- Higher Education Use Case
Compliance & Risk Management Beyond Privacy
How Profisee can help institutions ensure data accuracy to meet compliance and mitigate risk.
An MDM platform supports higher education institutions in maintaining accurate, compliant data, helping to mitigate risk, reduce penalties, and uphold institutional reputation.
Data Domains
Compliance, Financial, Operational
Business Problem
Reporting Inaccuracies, Regulatory Exposure
Teams Impacted
Compliance, Risk Management, Legal, Finance
MDM Impact
Aggregating Risk Data, Continuous Quality Monitoring
Business Problem
Data Strategy
Outcomes Business Problem
Compliance & Risk Management Challenges
- Incomplete Compliance Records: Gaps in compliance-related data expose institutions to the risk of non-compliance and associated penalties.
- Regulatory Reporting Issues: Inaccurate data complicates reporting processes, reducing transparency and risking compliance failures.
- Costly Data Quality Gaps: Poor data quality in compliance-related information leads to remediation costs, regulatory penalties, and reputational risks.
- Limited Risk Oversight: Inconsistent risk data makes it difficult to anticipate and address compliance issues, increasing institutional exposure.
Data Strategy
How MDM Can Strengthen Compliance & Risk Management
- Data Standardization and Validation: MDM applies standardization to compliance data, ensuring accuracy and completeness for reliable reporting.
- Consolidated Risk Data View: Aggregates risk-related data across departments, providing a comprehensive view of potential exposure and facilitating early risk identification.
- Automated Data Quality Monitoring: MDM supports automated data quality checks, flagging discrepancies for timely correction and reducing compliance risks.
- Ongoing Compliance Data Integration: Keeps compliance data current across platforms, supporting accurate reporting and timely responses to regulatory requirements.
Outcomes
Reduced Compliance Costs & Enhanced Reputation
- Lower Compliance-Related Costs: Accurate, timely compliance data reduces the likelihood of penalties and associated costs.
- Proactive Risk Management: Access to consolidated, reliable data supports early risk detection, improving the institution’s risk response.
- Reputation Protection: Consistent compliance enhances institutional trust and reinforces credibility with stakeholders.
