The right compliance automation solutions save time and resources both within IT and corporate-wide. Forest City is one company that did their homework, then took three basic steps when investing in IT automation: They 1) calculated the cost of the status quo, 2) estimated lost opportunity costs, and 3) projected cost savings. Here is how it paid off for them…and can for you.

Companies traditionally look to their IT professionals for implementing business efficiencies within automating functions, such as accounting, finance, purchasing, human resources, manufacturing and compliance. However, in today’s global, highly complex and competitive marketplace, IT is tasked to do much more. Executive management needs IT to execute strategic initiatives and drive innovation that will create differentiation and offer a competitive advantage. The question is: How can IT employees/teams have the time (and the budget) to recommend and implement solutions on top of their daily tasks?

There’s no doubt, IT is staffed with a lot of intelligent, innovative individuals. But the problem is that most IT organizations spend 50 percent or more of their time working on routine maintenance and non-value add operational tasks. And it is not uncommon for this to rise to 80 or 90 percent. Above all, IT professionals know they are hired to offer a higher level of support and problem solving.

Bottom line, compliance automation can fall by the wayside. What is not realized is that internal audit preparation is far more time-consuming and inefficient. The right compliance automation solutions save time and resources within IT and often corporate wide.