Understand your data by instantly creating charts and graphs
What is Omnitrack?
Omnitrack is a centralised reporting and tracking tool that replaces traditional, yet outdated data management processes such as emails, spreadsheets and long PDF and Word forms. It allows anyone to identify a risk, complete staff surveys or carry out reporting requirements. Compliance managers can then easily track and analyse incoming data. Collecting and storing data relating to all areas of compliance in a central portal adds structure, efficiency and transparency to the compliance process.
VinciWorks has made several updates to the Omnitrack form builder to make using our data collecting and reporting tool even easier and more efficient.
What is the Omnitrack form builder?
Rather than spending hours creating and sending out long and tedious Microsoft Excel, Word or PDF forms, the Omnitrack form builder allows administrators to easily build forms with conditional logic. All the data collected from the forms can easily be aggregated into charts that are updated in real-time.
The main advantages of using our form builder to create questionnaires and surveys as opposed to Excel or similar systems are:
Choose from a host of form templates that can easily be customised
Use conditional logic to build a dynamic form that contains only the questions relevant to each individual completing the form
Easily duplicate forms and edit them so you don’t have to start from scratch
Seamless collaboration between admins so that all collected data appears in one central portal
Capture all edits to the form in our “audit trail” so you can revert back to a previous version of the form
All data collected stays in one central location and is updated in real-time. This means that all reports will always be up-to-date
AML: Know Your Risk drops users into real life, immersive scenarios to test their knowledge, understanding and ability to uncover risks of money laundering hidden in everyday transactions
The Fifth Money Laundering Directive comes into force on 10 January 2020. All VinciWorks courses have been automatically updated to ensure that they reflect the latest regulations across all relevant jurisdictions.
There is no technical impact for any of our existing clients whether on the LMS or SCORM.
All course enrolments, both in-progress and all new enrolments will be updated for the Fifth Directive.
After an extensive review of the new regulations, we have concluded that the training impact for most regulated businesses in the UK is minor. As a vanguard in the fight against money laundering and terrorist financing, the UK already implemented many of the provisions of the Fifth Directive in 2017. For example, the Fifth Directive requires enhanced due diligence for transactions involving high-risk countries, a requirement that already exists in the Money Laundering Regulations 2017. The Fifth Directive also introduces new requirements for cryptocurrency, letting agents and art dealers but these requirements do not affect most regulated businesses.
We regularly carry out updates to our reporting tool, Omnitrack, to make it easier for administrators to build forms, collect data and analyse that data. One of our biggest developments to date is the addition of a library of best-practice templates covering GDPR, DAC6, health and safety, whistleblowing and more.
What is Omnitrack?
Omnitrack is a reporting and tracking tool that helps businesses shape their culture to encourage all employees to engage in the risk management process. It allows anyone to identify a risk, with high priority issues escalated to the risk management team. Omnitrack replaces traditional, yet outdated data management processes such as emails, spreadsheets and long PDF and Word forms. Collecting and storing data relating to all areas of compliance in a central portal adds structure, efficiency and transparency to the compliance process.
2019 was another important year of growth form VincWorks, with 38 new compliance courses, 9 webinars with industry experts and the release of our new revolutionary compliance tracking tool, Omnitrack.
With the dust settling on GDPR, we focused our attention on new compliance topics and areas on the regulatory horizon. Below is a list of the areas that we focused on in 2019 and will continue to be a focus in 2020.
Compliance training roundup
During 2019 users completed an average of 4 compliance courses and 1.5 hours of compliance training.
The most popular compliance training topics were:
Cyber security
Anti-money laundering
Data protection
Anti-bribery
Criminal Finances Act
SRA regulation
Diversity and inclusion
Those topics constituted over 80% of all compliance training time in 2019.
2019 has been another productive year for VinciWorks. We have seen a record number of active users and course completions and we have once again released a record number of compliance courses in line with current regulations and compliance concerns. This includes refresher training, short five minute “knowledge checks”, and training on upcoming legislation such as DAC6, the EU Whistleblowing Directive and the SRA Standards and Regulations.
Here is a summary of all 38 courses we released in the past 12 months arranged according to topic. All of our courses are fully customisable and can be translated into any language. Additionally, many courses include a “course builder” that allows each user to take the version of the course most relevant to their industry and job role.
UK/ EU/ Global courses
Competition Law
Organisations have a responsibility and a legal obligation to comply with competition law and to ensure that staff have the knowledge and understanding to do so. Competition Law: Know Your Market drops users into a set of immersive scenarios that test their knowledge, understanding and ability to comply with UK competition law. Covering the Competition Act 1998 and the Enterprise Act 2002, our gamified course Competition Law: Know Your Market rewards users with a new “experience points” system.
In 2019 we expanded our course library significantly into new areas such as DAC6, health and safety, and USA compliance. We also added in-depth training, refresher courses and short knowledge checks to existing topics.
Best practice for GDPR compliance training is to enrol staff in GDPR training every year. The GDPR refresher course, GDPR: A Practical Overview, combines short bursts of learning with practical scenarios and real-life case studies to ensure all staff know how to safely and securely work with data.
From 10 January 2020, the Fifth Anti-Money Laundering Directive (2018/843) is in force in the UK and around the European Union. The changes are not as extensive as those that were introduced in the Fourth Directive, such as the concept of risk-based due diligence, but the Fifth Directive will impact an increasing number of businesses, such as art dealers and cryptocurrency companies who must now have regard to money laundering laws.
Businesses, such as law firms, banks, accounting firms, FCA regulated companies and estate agents who already have AML procedures in place will likely need to make only small modifications to their procedures.
Training plan recommendation
VinciWorks does not recommend that companies or law firms that regularly train on AML (every 12–18 months) make any significant changes to their training schedule because of the new directive.
Users get instant feedback on their answer to each question
The Foreign Corrupt Practices Act (FCPA) is a piece of American legislation aimed at outlawing bribery of foreign officials. The Act applies to those with formal ties to the US, such as US nationals or businesses incorporated in the US, as well as foreign nationals and entities who are in the US at the time of the improper conduct.
In addition to our core FCPA course, VinciWorks has just released a five-minute FCPA knowledge check. Knowledge checks consist of different scenarios to help employees understand which course of action to take in different situations.
The five minute FCPA knowledge check covers:
The requirements of the FCPA
Who the FCPA relates to
Examples of FCPA breaches and acts considered as bribes
Scenario questions
Examples of acceptable facilitation payments under FCPA
“The Health and Safety at Work etc Act 1974 requires all businesses in the UK to provide whatever information, instruction, training and supervision as is necessary to ensure, so far as is reasonably practicable, the health and safety at work of employees.”
Despite the legal requirement, health and safety training has a bad reputation. Most people working in an office don’t want to do it, and won’t think about it much again. VinciWorks has released a health and safety course designed to make training more engaging and relevant to the user’s workplace.
Health and Safety for Office Workers
VinciWorks’ new course, Health and Safety for Office Workers, delivers short, interactive health and safety training units that are customised to the specific office they work in by default. Gone are the endless slides that bear little to no relevance to a person’s working environment. Health and Safety for Office Workers provides all the health and safety information in one place.
