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BDO Cerberus launches bespoke electronic compliance monitoring tool

28 January 2021

BDO Cerberus Regulatory Consulting has launched Hyperion: A locally-developed bespoke electronic compliance monitoring tool.  

Hyperion offers an intuitive, real-time solution for monitoring programmes and helps to ease the growing administrative burden of regulatory compliance monitoring.

With static workbooks being the norm, which can often require significant manual maintenance, automation is a widely recognised means of helping to improve efficiency and eliminate human error.  BDO Cerberus designed Hyperion as an interactive system for compliance testing, providing automated notifications, deadline monitoring and board reporting.

Hyperion offers a ‘real-time’ method of monitoring legal and regulatory obligations that is easier and less time-consuming than standard workbook-based programmes.  The system includes the ability to create and record test methodologies, document test findings, track and assign remedial work and swiftly extract data for reporting.

BDO Cerberus advisory director Paul Robinson said: “In the past, and certainly still common practice today, compliance monitoring involves a lot of manual process, updating workbooks and extracting data, which can lead to additional work when regulatory obligations change and issues when something is missed.

“We saw an opportunity to develop a tool which improves firms’ monitoring arrangements and worked closely with a local software developer to roll out an adaptable, cloud-based system designed to allow businesses to focus on their risks.

“It’s an exciting venture and one we hope helps businesses to simplify a lot of the complexity around compliance and business risk monitoring with one flexible, intuitive tool.”

For more information on Hyperion or BDO Cerberus please visit our Regulatory Consulting page or email [email protected].