Provana

IPACS – Audit and Compliance Solution

IPACS is the new Integrated Performance, Audit, and Compliance Solution from Provana, the experts in business process solutions.

IPACS is designed to assist participants in the retail collections industry, including retail collection law firms, collection agencies, network managers, debt buyers, and issuers or sellers of debt.

In an industry with growing and evolving compliance requirements, IPACS can help your company meet the expectations of your clients, owners, and auditors. Watch this short introductory video to see just how simple we’ve made compliance for firms all over the country.

The IPACS system features a comprehensive policy and standard operating procedure (SOP) document management solution including:

  • Active repository that enables users to quickly access the most current, relevant materials to manage their work
  • Role-based access to prevent unauthorized changes to policies and SOPS and track version control of all documents
  • Customized SOPs with client-specific requirements to ensure accurate daily processing and facilitate internal and external audits

IPACS also facilitates audit and compliance through:

  • A defined approval process for accepting revisions to documents
  • Tracking of users within the company certified to perform selected procedures
  • Notification to certified users of changes to policies and SOPs within their span of responsibility

Provana – The Universal Solution

When you choose IPACS, you also gain access to Provana’s full slate of services.

Provana has a team of experienced business and compliance consultants that can assist in assessing current policies and SOPs, developing documentation to address gaps in compliance materials, and supporting ongoing maintenance of the company’s policies and procedures.Provana and IPACS help you keep clients and put your best staff to work generating revenue, not managing documents, through industry-leading expertise in four core areas:

Policies & Procedures: Provana works with clients to build a comprehensive set of firm-wide business policies and standard operating procedures (SOPs). The result is a living library of SOPs which are regularly revised to adapt to dynamic client and regulatory revisions.

Compliance Support: Provana systematically reviews client and regulatory guidelines to position our clients to demonstrate their adherence to defined standards. Provana strengthens Standard Operating Procedures, not as an event, rather as an ongoing process to address the ever-changing nature of client and regulatory demands. Each SOP is approved by the process owner and indexed to manage the legislative history.

Audit Support: Provana provides remote audit support. Through our processing hub, Provana creates a virtual internal audit team, equipped to support a variety of audit and compliance functions such as; (a) review and respond to client requests, (b) review and audit vendor billing, (c) review and score collection calls, (d) internal audit functions validating adherence to  Standard Operating Procedure.

Performance Measurement: Systematic measurement of results to expectations.