For many compliance teams, spreadsheets have long been the default tool for managing registers. Whether it is conflicts of interest, gifts and hospitality, breaches, or training records, Excel and similar tools have offered familiarity and flexibility. But as regulatory expectations evolve, the limitations of spreadsheets are becoming increasingly clear.
Spreadsheets may still “get the job done,” but they are not built for the complexity, oversight and accountability required in today’s compliance environment. It is time for firms to think beyond spreadsheets and modernise their approach to registers.
The Limitations of Spreadsheets
- Version Control Issues
Multiple versions of the same document quickly become unmanageable. Tracking the most up-to-date entries or identifying who made changes can be a headache. - Human Error
Spreadsheets are prone to accidental overwrites, deletions, or formatting mistakes, which can compromise data integrity and create compliance gaps. - Lack of Transparency
Regulators expect firms to demonstrate oversight and accountability. Spreadsheets make it difficult to provide real-time visibility across registers or generate audit trails. - Scalability Challenges
As firms grow, so too does the volume of data in their registers. What once worked for a small team quickly becomes unfit for purpose.
Why Modern Registers Matter
Modernising registers is not about abandoning what is familiar, it is about creating a system that is more reliable, scalable and aligned with regulatory requirements. Moving beyond spreadsheets offers clear benefits:
- Centralisation: All registers in one secure platform, easily accessible to those who need them.
- Auditability: Built-in audit trails provide transparency for regulators and senior management.
- Efficiency: Automation reduces manual data entry and eliminates duplication of effort.
- Risk Reduction: Stronger controls help prevent errors and ensure compliance obligations are met.
The ComplyPortal Advantage
With ComplyPortal, firms can manage all their registers in a single, secure environment designed specifically for compliance.
- Real-time oversight: Full visibility across gifts and hospitality, conflicts of interest, breaches and more.
- Customisable workflows: Adapt registers to your firm’s needs while maintaining consistency.
- Automated reporting: Generate accurate, regulator-ready reports in minutes.
- Accessibility: Cloud-based access ensures registers remain up to date, even during periods of leave or staff turnover.
By replacing spreadsheets with a dedicated compliance platform, firms can move from reactive record-keeping to proactive compliance management.
Conclusion
Spreadsheets may have served compliance teams well in the past, but they cannot keep pace with the demands of today’s regulatory environment. Modernising registers is about more than efficiency, it is about resilience, oversight and protecting your firm against regulatory and reputational risks.
💡 Ready to take your registers beyond spreadsheets?
👉 Book a demo with ComplyPortal
