Meeting Regulatory Requirements
In regulated industries—such and banks, pharmaceutical and educational organizations—there is often a need to produce a chart for a specific point in time. For example, a response to a legal or audit request might require an org chart to be produced for how the organization was structured on a particular date in history.
A client of ours working with their auditors on SOX (Sarbanes–Oxley Act) compliance issues was asked for an org chart that was effective on a particular date. The Sarbanes–Oxley Act was implemented to increase the transparency and responsibility of management within firms and the auditors have an obligation to ask for these documents. Requests of this nature are typically cumbersome, time consuming endeavors if demanded of HR departments without a strong digital trail of their employees’ movements.
OrgChart Now Solution:
Our client had been creating org charts with OrgChart Now for years and was able to quickly pull up the requested version on the specified date within minutes using OrgChart Now’s Point In Time Module. While many changes in the organization had taken place over years past, the software had successfully stored the charts data for that specific moment in time and was easily retrieved for the auditor. This same module has been used with success in other use cases such as legal departments requesting org charts of HR departments for discrimination, EEOC or negligence lawsuits.
Creating and maintaining org charts with the OrgChart suite of products has the advantage of being able to save historical data in a readily retrievable form for audits and other regulatory controls. For further details on how this works try the software for yourself or arrange a free demo with our experts.