Industry Solutions

Issue Management

Managing issues that have the potential to drastically affect a company's financial health are paramount in today's business climate. Issues within a financial services organization may include lawsuits, shareholder actions, regulatory actions, audit findings, and others.

All identified issues represent possible vulnerabilities. In order to actively track and mitigate those vulnerabilities, forward-thinking organizations are implementing solutions that centralize management of all issues into a single, integrated, process management system.

TrackWise Issue Management Solutions

TrackWise software enables financial services organizations to implement a powerful, web-based management system for documenting the conditions that can evolve into critical issues and taking decisive action to reduce risk. TrackWise's powerful workflow engine drives the issue management lifecycle including capture, investigation, tracking, trending, escalation, approval, and closure.

The centralization of all information in one database facilitates effective prioritization of activities, root cause analysis, and corrective actions. TrackWise's unique ability to manage all issues and other operational risk management processes on a single platform provides the ability to interrelate management solutions, including investigations, loss tracking, and customer complaints, for a complete view of risk and remediation throughout the enterprise.

Benefits

  • Eliminate non-compliant paper-based systems with centralized management and audit-trailed history of all issues and actions.
  • Improve efficiency by automatically routing records through issue management workflow.
  • Increase productivity by assigning corrective action solutions to multiple related issues.
  • Promote informed decision-making from accurate, real-time information.
  • Standardize the capture, tracking and reporting of information.
  • Guide process refinement to streamline issue management and prevent recurring issues.
  • Standardize reporting for corporate and regulatory bodies; display simple information in summaries and tables, and detailed information in hierarchical parent-child reports.
  • Increase trending capabilities to measure results and responses.
  • Improve efficiency by prioritizing issues based on pre-defined criteria.