Exchange data with other business units to create an ecosystem of information that reduces duplication of efforts ensures consistency and streamlines communication to help the organization meet its objectives while increasing organizational efficiency.
In today’s complex environment organizations typically run dozens of different software applications which results in redundant or inconsistent data across systems. Departments often have different workflows and reporting but when this information gets filtered up to management it's often inconsistent. This requires time to compile and standardize the information so it’s easy to understand.
Integrate with the other lines of defense to ensure the entire business is operating with consistent information and reducing any unnecessary redundancies. 3rd party system, such as Salesforce or GRC platforms can get information from TeamMate to use in their system or they can push information, such as risk and controls, into TeamMate+. There are many ways to use the Data Exchange to benefit the organization, but the two most common business cases are outlined in the following pages.