How does Approved Notes work?

To begin, let’s go over the Approved Notes process at a high level.

This process enables your organization to focus on compliance while ensuring efficient workflows and minimizing unnecessary alerts. Through Monitoring Rules and targeted monitoring options, your compliance team can more effectively manage risks, respond to issues proactively, and uphold regulatory standards across regions and products.

Create Monitoring Rules

Start by setting up Monitoring Rules to specify which text fields are monitored.

When creating Monitoring Rules, you can specify parameters like effective dates, categories, and targeted fields. This focused approach ensures that only relevant information is tracked, reducing unnecessary compliance checks and allowing your team to concentrate on meaningful compliance risks.

Define Monitored Phrases

After establishing the fields to monitor, define the specific words and phrases, known as Monitored Phrases, that could indicate compliance and or regulatory concerns.

By linking these Monitored Phrases to the Monitoring Rules, you can flag potentially problematic language that could pose business risks. This step empowers the compliance team to quickly identify and address risky language, enabling faster responses to potential issues.

Active Monitoring Rules do not have an effect on the end user's experience.

Customize monitoring by region and product

Additional monitoring capabilities can be extended specific to regions and/or products.

This customization ensures that monitoring is relevant to different regulatory environments and product requirements. Customizing monitoring this way helps field users adhere to regional regulations and industry-specific standards without creating unnecessary alerts for the compliance team.

Review and resolve potential violations

When potential violations occur, compliance users review flagged records to determine actual risks.

The Approved Notes review process uses lifecycle states, stages, and Monitoring Rule categories to organize and streamline the review process. This systematic approach enables your team to address and resolve potential issues quickly, supporting ongoing compliance efforts and minimizing regulatory risks.