Choosing the Right Risk and Compliance Technology Implementation

Businesses in the risk and compliance technology implementation phase should evaluate a variety of variables when selecting the optimal solution for their firm. This encompasses cost, usefulness, efficiency, and return on investment, among others. One critical issue that is sometimes forgotten is the solution’s usability — how simple is it to use?

Convenience is sometimes ignored, as most risk and compliance users are subject matter experts with command of software tools and data management. However, these firms frequently encounter difficulties following the implementation of the solution – they witness employees attempting to avoid or reduce the use of the new solution. Some employees may even continue to use inefficient, older ways regarding new technologies.

The actual reason for this is a phenomenon called adoption friction.

Understanding the Root of Adoption Friction

The term “adoption friction” refers to employees’ resistance to a new technology deployed in the firm. Organizations discover that certain employees continue to resist utilizing the new technology even after being implemented. They may continue to operate in the inefficient manner they are accustomed to or attempt to minimize their contact with new technologies.

This is not exclusive to risk and compliance or technological initiatives; adoption friction has been found when implementing new rules or modifying an organization’s culture. Any firm that wishes to reap the full benefits of implementing new risk and compliance technology must mitigate adoption friction.

Ensuring Acceptance of Change

It is critical to take the required steps to ease everyone into the new business procedures to minimize adoption friction. The following are the steps:

• Selecting a solution that is simple to use
• Increasing the number of critical stakeholders across the organization
• Keeping a macro-view in mind

When integrating new technology, the best thing a firm can do is ensure that it is user-friendly for all users. Click To Tweet

Selecting a Solution That Is Simple to Use

It is critical to consider the benefits and promises of the risk and compliance solution selected for your firm. Still, it is also critical to keep in mind that these promises will be beneficial only if employees use the system to its full potential. That is why the chosen solution must have an intuitive user interface that helps employees grasp rationale and complete their jobs. Specific risk and compliance solutions require extensive training before implementation, making them difficult to adopt.

However, many solutions are designed with the user experience in mind. These solutions intentionally mimic commonly used software solutions and provide help and information to users to make their work easier. Such solutions are more likely to be accepted by employees.

Increasing the Number of Critical Stakeholders Across the Organization

Top-down implementation of recent technologies can encounter significant opposition. People may think that higher management is imposing something on them and is unaware of ground reality. Therefore, it is critical to identify and include stakeholders at all levels in the implementation process. Demonstrate the solution to all team leads and provide additional training to assist other members of their departments.

Keeping a Macro-View in Mind

After a significant installation, a common question heard in offices is, “why did they even alter anything?” Everything was perfect.” This is quite concerning because if employees believe the new technology’s benefits are cosmetic, they will avoid debate as much as possible. This issue is exacerbated further because some employees would not directly benefit from modern technology in their current job roles.

Standardizing data entry, for example, requires all employees to collect data in the same format and manner. While they may not immediately see the benefits, standardized data is beneficial because it allows comparison and cross-referencing. It is critical to explain the benefits of modern technology to employees since this guarantees that they understand its critical role in accomplishing company goals.

Convenience is Essential for Sustainable Improvements

When integrating new technology, the best thing a firm can do is ensure that it is user-friendly for all users. If you want your employees to benefit from your organization’s risk and compliance technologies fully, adopt a solution that simplifies their work. Compliance should become so simple to implement that it is ingrained in the genes of the work culture. By implementing a solution with an intuitive user interface, a business may cultivate a culture of compliance.