A message from Apromore CEO and Co-Founder Marcello La Rosa
As regulatory landscapes continue to evolve, businesses are under increasing pressure to ensure compliance and manage risks effectively. Today, I’m thrilled to share the launch of Apromore Compliance Center, an innovation designed to reshape how organizations navigate these complexities using advanced process intelligence.
This release marks a pivotal moment for compliance and risk management. For years, businesses in highly regulated industries such as financial services, energy & utilities, healthcare and the public sector, have faced mounting challenges related to compliance. Over the past decade alone, regulatory changes have surged in terms of volume of regulatory issuances, complexity, breadth of regulatory supervision and economic impact. Meanwhile, financial institutions in the U.S. have incurred a staggering $243 billion in penalties in the decade 2008-2018 alone, with the annual cost of compliance now exceeding $182 billion.
With the introduction of Apromore Compliance Center, we are offering businesses a powerful new capability to not only meet regulatory demands but to stay ahead of them. This product allows organizations to proactively manage compliance risks while reducing costs. It's a strategic asset that turns compliance into a driver of operational excellence.
Setting a New Standard for Compliance Management
Compliance doesn’t have to be a burden. Instead, we see it as an opportunity for businesses to gain deeper control over their operations while minimizing risk. The Apromore Compliance Center is designed with this philosophy in mind. By leveraging process intelligence insights, it provides a wide range of functionalities specifically designed to manage operational compliance: from automated key control testing to the ability to simulate the impact of change on control effectiveness; and from automated compliance reporting at the press of a mouse click to continuous monitoring of an organization’s compliance posture. With Compliance Center, our customers can detect and mitigate compliance risks as they arise.
Compliance professionals can now simplify audit preparations, automate control testing, and benefit from the power of process intelligence to root-cause control breaches —all while reducing the manual effort typically associated with regulatory adherence. The result is a dramatic reduction in compliance violations coupled with significant savings in compliance costs.
In-line with Apromore’s academic roots, the design of the Compliance Center has been informed by the PhD work of Nigel Adams, Apromore’s senior advisor and a former banking executive. It is the result of focus groups and endless discussions with key process and risk stakeholders at leading banks, and as such it is grounded on the requirements of highly regulated verticals.
Integrating existing operational risk and compliance capabilities with dedicated compliance rules templates and a powerful process intelligence platform, transforms compliance monitoring, which is a necessary burden, into a potential source of operational advantage
— Nigel Adams, Senior Advisor at Apromore.
In addition to the Compliance Center, Apromore version 10.1 brings even more to the table. The new GenAI-enabled Copilot provides a conversational interface to aid the discovery and analysis of business processes, and quickly find bottlenecks and other friction points. Variant Comparison enables analysts to compare different variants of a given process in a single, integrated view, instead of side-by-side, identifying key differences and commonalities along multiple dimensions such as duration, cost and frequency, effectively supporting standardization efforts. Meanwhile, our KPIs & Metrics Center enables users to build a library of reusable, custom process metrics and compose these into KPIs, ensuring businesses remain agile and responsive to any operational deviations.
At Apromore, we’ve always been driven by a mission to democratize process mining and enable businesses to unlock the full value of their transactional data. With the launch of the Compliance Center, we’re furthering that mission by equipping organizations with the capabilities they need to turn compliance into a source of strength, not strain.
I am incredibly excited to see how businesses will harness the power of Apromore Compliance Center to not only meet regulatory demands but to thrive in today’s fast-paced, highly regulated world.
Read the announcement about the new Compliance Center and 10.1 capabilities in our Newsroom.
