5 Tips for collaborative working between Product and Compliance teams
by Sue Sivam-Raja
Hello again, fellow product and compliance leaders! As the Head of Customer Success, I see the constant challenge between product and compliance teams; the difference in priorities and the lack of communication. So today's blog provides some key tips on how product and compliance teams can work together more effectively to save time, increase productivity, and minimise risk gaps.
Tip 1: Foster a culture of collaboration and communication
Effective collaboration between product and compliance teams starts with a culture of collaboration and communication. Make sure that your teams are working towards the same goals and understand each other's roles and responsibilities. Encourage open communication and regular check-ins to ensure that everyone is aligned and working together effectively.
With Skyjed’s platform, product and compliance teams are part of the team set-up to ensure both teams have the visibility to work collaboratively on the same goals and objectives.
Tip 2: Use a centralised platform for product lifecycle management and governance
A centralised platform such as Skyjed’s for example for product lifecycle management and governance can help streamline product practices and processes ensuring that everyone has access to the same information. Look for a platform that offers features such as real-time reporting, automated workflows, and collaboration tools to help your teams work together more effectively.
Tip 3: Involve compliance teams early in the product development process
One of the biggest challenges in product lifecycle management and governance is ensuring that compliance requirements are met. To minimise risk gaps and ensure that your products are compliant from the outset, involve compliance teams early in the product development process. This can help ensure that compliance considerations are built into the product design and development process, rather than being added as an afterthought.
Tip 4: Regularly review and update your compliance policies and procedures
Compliance requirements are constantly evolving, so it's important to regularly review and update your compliance policies and procedures. Make sure that your compliance teams are up-to-date on regulatory requirements and that your policies and procedures reflect the latest best practices. Work with your compliance teams to understand where you may have gaps and start to address these in order of priority.
Tip 5: Use data to inform your decision-making
Data is a powerful tool when it comes to product lifecycle management and governance. By gathering data on how your products are performing and how they are being used, you can identify potential risk gaps and make informed decisions about how to optimise your products. Make sure that you're gathering data on key metrics such as customer feedback, product usage, and compliance performance, and using this data to inform your decision-making.
If you're not already using Skyjed, I encourage you to book a demo or trial our platform today to see how it can help you maximise the value of your product lifecycle and governance efforts. With the right tools and approach, you can ensure that your products are meeting the needs of your customers and your organisation is meeting its governance obligations.
If you want to learn more about Skyjed, book some time with me today!