Mitratech recently held our annual EMEA user group meeting in London, with over 40 clients in attendance. It was a tremendous success, but like any event, not everyone could make it.
For those who couldn’t, here are some of the highlights…
Some overall observations
Before discussing the sessions, I wanted to share some overall thoughts about the user group. One of the things that struck me the most was what a wonderful group of people we had in attendance. They were so insightful in the discussions they had, and the questions they posed. They were truly engaged in the presentations and interested in learning how DataStore and PolicyHub can improve their operations even more.
The other thing that struck me was how the attendees have made PolicyHub and DataStore vital to their operations, using both of these solutions to increase their organization’s efficiency. This was particularly true with DataStore clients. Throughout the day, I talked to clients who use DataStore for everything from improving the customer experience to responding faster to regulators and auditors to eliminating vast swaths of paper in the office. The range of uses was impressive.
The day kicked off with an introductory session by Mark Delgado, Managing Director, GRC for Mitratech. In his session, Mark gave a brief update on Mitratech before diving into the topic at hand, effective processes. One stat from Mark’s presentation that stood out for me was that just 20% of the working day is spent on important jobs. A whopping 80% is wasted on tasks with little value. I was left wondering, how do we change that so those numbers get flipped?
That’s the question that Mark addressed next, and the answer was simple: automation. Mark explained that by using tools like DataStore and PolicyHub to automate routine tasks, one could accelerate compliance and reduce risk, improve customer service, reduce costs and improve collaboration.
I had always thought of automation as just speeding up processes, never thinking of what it might mean for other outcomes of those processes. But Mark connected the dots and showed how automation can impact all areas of an organization’s operations.
I spent most of my time in the DataStore sessions. The first one I sat in on was about the latest version, 4.0. What I walked away with from this session is just how easy Mitratech has made DataStore’s workflow automation tool. Prior to this latest version, it was hard for end users to draft workflows.
That’s all changed with this latest update, where users can easily write their own workflows with little or no help from IT. At the end of this session, I could almost see the wheels spinning in the minds of those in attendance as they thought about how workflow automation could cut the time it takes to execute their own processes.
The other session for DataStore was devoted to use cases. More specifically, two use cases were presented, one focusing on using workflow automation on the front-end with customer operations, the other focusing on the back-end with daily reports. The former really was eye-opening for me. I had always thought of workflow automation as improving back-of-the-office operations, but here was a bank using it improve the front-of-the office operations and enhance the customer experience.
I didn’t get to spend as much time in the PolicyHub sessions as I wanted to because they were being held concurrently with DataStore’s sessions. However, the feedback I heard was fantastic, making me sorry I missed them.
One of the things I heard repeatedly from attendees of the PolicyHub sessions? How useful the discussion was around TAP, our workflow automation solution that can be integrated with PolicyHub to manage exceptions.
The surprise among many I spoke to who attended this session this was just how easy it was to create these workflows in TAP and marry them up with PolicyHub. Some of the attendees told me they went into the session thinking that to create a workflow for exceptions would require reaching out to IT and having them build it. These same people walked out of the session with the realization they could create workflows by simply clicking and dragging objects, barely needing the help of IT, if at all.
The wrap-up from 2019?
This year’s GRC User Group was a huge success, with great participation from the client base, fantastic sessions showcasing DataStore and PolicyHub, and outstanding presentations. And while the curtain might have come down for this event, we’re not finished – not by a long shot – in continuing to engage with our clients and help them succeed. Stay tuned for information on other events and other ways we’ll keep supporting our GRC users in the months and years ahead.
Webinar: What’s New in DataStore 4.0
Explore the new features – like workflow automation integration – that are keeping it on the cutting edge of FinServ ECM.