What is Action Tracking software?
Within any organisation, actions can be generated from a number of sources – from governance or team meetings, to actions arising from Audit, Risk and Compliance activities. Embedding robust software to consistently manage and update actions provides organisations with greater control and visibility of activities.
Action Tracking software allows actions to be created and managed through to completion. They can be recorded with ownership and due date fields, allowing the system to remind users when an action is due for an update, or when the due date is approaching. The solution should also provide a means of linking the specific action and the activity it relates to – for example, actions arising from an Internal Audit or Board meeting. This provides users with information to allow them to update their action in the context of the relevant data.
Having a robust software solution for Action Tracking encourages consistency in approach and visibility for senior management of all activities within their function. At an individual level, the software creates a consolidated list of their actions so that workloads can be managed proactively.
Action Tracking Software can help organisations to manage reminders and action reporting in a consistent and transparent way, helping to minimise any overall risks to the organisation.
What are the benefits of Action Tracking software?
Within organisations, employees often spend too much time in gathering information, or chasing up actions recorded at previous meetings. This can lead to poor data quality and excessive time being taken on reporting and emailing. Governance, Compliance and Risk functions can run the risk of not focussing on the output of actions as too much time is spent on reconciliation and reporting.
The CoreStream Action Tracking module provides a flexible and robust platform which can be adapted to meet the needs of any organisation. Actions are captured and reported on in a consistent and visible way leading to a high level of individual accountability in the action tracking process. For leaders, the ability to see all actions relating to their function will become a key tool for managing their department and employees.
CoreStream’s Action Tracking software will provide the means to manage actions across the organisation by:
- Increasing personal accountability by providing a full list of actions for each individual.
- Providing oversight for managers and teams to report on the progress of actions
- Simplifying the process of following up on actions by allowing the system to remind users when updates are required.
- Improving the efficiency of reporting across the organisation.
- Linking actions with the activity they relate to, giving users additional information to increase accuracy.
What are the risks of not having Action Tracking software?
In organisations of all sizes, actions are being generated throughout the day. Whilst minutes and actions may be created, having these in an offline version could lead to them being lost and individuals not being held accountable. This could lead to missed deadlines, an increase in risk and a loss of reputation. Allowing a system to record, remind and report on actions greatly reduces these risks.
The CoreStream platform is designed to be flexible and to adapt to the needs of an organisation. The Action Tracking solution provides greater levels of control for an organisation to manage deadlines, and help prevent issues before they occur.
The flexibility of the CoreStream platform means that actions across your organisation can be managed in a way which works for your business. Our solution removes the needs for time consuming chasing of actions and provides senior management with the necessary reporting to manage their business lines.
Our Action Tracking platform saves time and allows resources to focus on value adding activities, helping to maximise the time spent on helping the business to grow.