Manage Conflict of Interest Disclosures More Effectively with 3 Critical Steps

Managing conflict of interest (COI) disclosures is an essential part of maintaining transparency, compliance, and ethical standards within an organization. Without a structured process, disclosures may go unreported, approvals can be delayed, and compliance teams may struggle to track and resolve conflicts effectively. Manual systems such as spreadsheets and email reminders often lead to inefficiencies, making it difficult to maintain accurate records and meet regulatory requirements. 

ConvergePoint Conflict of Interest Software on Microsoft 365 SharePoint simplifies COI management by automating disclosure submissions, routing approvals, and maintaining a centralized record of all activities. Compliance teams gain greater visibility into disclosures, while automated workflows reduce the risk of oversight and missed deadlines. 

Here are three critical steps for improving COI disclosure management processes and how ConvergePoint COI Software supports a structured, reliable approach to doing so. By integrating technology into COI processes, organizations can improve response times, strengthen oversight, and maintain accountability across all levels of operation. 

The Risks of Unmanaged Conflicts of Interest in Your Organization

Conflicts of interest (COIs) can arise in any organization, from financial dealings to personal relationships that influence business decisions. When left unchecked, COIs can lead to regulatory violations, reputational damage, and even legal consequences. Employees may not always recognize when they are in a conflict-of-interest situation, making it essential for organizations to have a structured approach to identifying, documenting, and addressing these issues. 

Without a proper system in place, compliance teams often struggle to track disclosures, review cases promptly, and enforce policies consistently. Manual methods, such as spreadsheets and email reminders, are prone to oversight, leading to delayed or missed disclosures. Additionally, failure to address COIs in real time increases the risk of ethical breaches, which can erode trust among stakeholders and expose organizations to penalties. 

Simplifying Conflict of Interest Management with Automation

Managing conflicts of interest requires a structured approach to tracking disclosures, reviewing submissions, and ensuring compliance across an organization. Relying on manual processes such as spreadsheets and email-based follow-ups often leads to delayed approvals, missed disclosures, and compliance gaps. ConvergePoint Conflict of Interest Software automates these critical functions, reducing administrative effort while maintaining accuracy and accountability. 

1. Automated COI Disclosure Tracking: Employees receive scheduled and event-driven alerts prompting them to submit disclosures. Compliance teams can monitor submission statuses in real-time, ensuring timely completion of required disclosures​

2. Workflow-Driven Approvals: COI disclosures follow a predefined approval workflow, automatically routing submissions to reviewers, managers, or committee members based on risk level and organizational hierarchy​.

3. Real-Time Compliance Dashboards: The system provides a centralized dashboard displaying pending reviews, risk classifications, and disclosure trends, allowing compliance teams to quickly identify and address potential conflicts. 

4. Audit-Ready Reporting: All actions—including submissions, approvals, escalations, and policy acknowledgments—are stored in a fully documented audit trail, making regulatory compliance easier and more transparent​. 

By automating COI compliance with ConvergePoint and using Microsoft 365 SharePoint, organizations can reduce compliance risks, improve efficiency, and maintain a transparent, audit-ready approach to conflict of interest management.  

 

3 Critical Steps to manage conflict of interest disclosures

Managing conflict of interest disclosures requires a clear, structured approach that goes beyond annual policy acknowledgments. Organizations must have a system in place to identify potential conflicts, facilitate timely disclosures, and enforce compliance protocols across all departments. The following three steps outline how to strengthen COI management and how ConvergePoint Conflict of Interest Software helps organizations maintain transparency and accountability throughout the disclosure process.

1. Keep COI’s Front of Mind

Ensuring compliance with conflict of interest policies requires consistent visibility and organization-wide engagement. COI management should not be an isolated compliance task but an integrated part of daily operations. Employees must be reminded of their responsibilities, disclosure requirements, and potential risks regularly—not just during annual training or policy reviews. 

How ConvergePoint Conflict of Interest Software Keeps COI Disclosures Top of Mind: 

• Automated Reminders for Disclosure Updates: Instead of relying on employees to remember compliance deadlines, the software automatically sends reminders for upcoming disclosure renewals, pending reviews, or policy acknowledgments, ensuring timely action. 

• Configurable COI Questionnaires for Targeted Risk Assessment: Organizations can create customized COI forms tailored to specific departments, industries, or compliance requirements, making the disclosure process more relevant and efficient. 

• Escalation Alerts for Non-Responsive Employees: If an employee fails to submit or update a COI disclosure within the required timeframe, the system automatically escalates the alert to their manager or compliance officer, ensuring no disclosure remains unreviewed. 

• Discussion Board for Real-Time COI Communication: Employees and compliance officers can use an integrated discussion board to address disclosure-related concerns, ask clarifying questions, and resolve conflicts efficiently, ensuring compliance issues are addressed promptly. 

By implementing ConvergePoint COI Software, organizations embed compliance into daily workflows, ensuring that COI policies remain top of mind, proactively managed, and easily accessible for all employees. 

 

2. Embedding COI Awareness into Everyday Operations 

Managing conflicts of interest effectively goes beyond annual disclosures or periodic reminders. Organizations need a structured approach where COI considerations become second nature to employees, ensuring potential conflicts are identified and addressed as part of their daily responsibilities. Rather than relying on manual processes, businesses can leverage automation to create a consistent, organization-wide compliance culture where employees proactively recognize and report conflicts as they arise. 

How ConvergePoint COI Software Helps Maintain COI Awareness: 

• Scheduled and Self-Submitted Disclosures: Employees are prompted to disclose potential conflicts based on pre-defined schedules or whenever they identify a new conflict, ensuring compliance is proactive, not reactive. 

• Automated Workflow Routing: Disclosures are automatically escalated, reassigned, or resolved based on organizational policies, ensuring a streamlined approval process without manual bottlenecks. 

By integrating ConvergePoint COI Software on SharePoint, organizations eliminate the burden of manual COI management, ensuring employees remain aware of their disclosure obligations without disrupting daily operations. 

 

Related Article: Conflict Of Interest Disclosures – Do You Have an Effective COI Policy?

 

3. Keep Detailed Records with Automation 

Keeping an Excel spreadsheet of disclosure forms and scheduling renewal cycles on your corporate calendar is no longer considered to be proactive compliance. Having a completed disclosure form on file is only the beginning. All disclosures must be reviewed, clarified where appropriate, and formally approved before being placed in the renewal cycle. The department responsible (HR/Compliance) can then run regular reports to monitor the status of all disclosed COIs. 

How ConvergePoint COI Software Improves Compliance Oversight: 

• End-to-End Disclosure Lifecycle Management: Automates submission, review, and approval workflows, ensuring every disclosure follows a structured process with full visibility for compliance teams. 

• Real-Time Compliance Dashboards: A centralized compliance dashboard provides instant access to pending disclosures, risk classifications, and approval timelines, enabling teams to address compliance issues proactively. 

• Automated Alerts and Escalation Management: The system notifies reviewers, managers, and compliance officers about pending approvals and overdue disclosures, ensuring timely resolution and preventing regulatory risks and conflict of interest.  

• Secure, Centralized Data Repository: All COI-related records, policies, and approvals are stored within SharePoint, ensuring easy access, data integrity, and compliance with internal governance standards.
  

Why ConvergePoint is Your Ideal COI Software Solution

Selecting a conflict of interest management solution requires a system that can handle disclosures efficiently without creating unnecessary administrative work. ConvergePoint Conflict of Interest Software is designed to automate key processes, track compliance activities, and provide clear oversight throughout the COI lifecycle. Built within Microsoft 365 SharePoint, it leverages existing infrastructure for seamless adoption while offering structured workflows that support compliance teams.

Key Capabilities of ConvergePoint COI Software:

• Automated Disclosure Review and Approval: COI submissions follow a structured workflow, automatically moving through the appropriate review and approval channels. Notifications keep compliance teams updated on pending actions, and escalation alerts prevent delays​.

• Controlled Access for Compliance and Security: The system assigns role-based permissions, restricting access to COI records based on user roles. Compliance officers, reviewers, and department heads only see the disclosures relevant to their responsibilities, protecting sensitive information​.

• Detailed Compliance Tracking and Reporting: Compliance teams can access real-time dashboards and historical reports, tracking disclosure trends, unresolved conflicts, and department-wide compliance levels. Custom reports help identify patterns and provide documentation for audits.

• Centralized Record Management: All disclosures, policy acknowledgments, and related approvals are stored within SharePoint 365, allowing for quick retrieval and organized record-keeping. Advanced search functions enable compliance teams to locate specific disclosures or approval histories efficiently.

Take Control of COI Compliance Management with ConvergePoint 

Managing conflicts of interest requires more than periodic disclosures and manual tracking. Organizations need a centralized, automated solution that ensures COI compliance is not just documented but actively monitored and enforced. With evolving regulations and increasing scrutiny, relying on manual processes increases the risk of missed disclosures, compliance gaps, and regulatory penalties. 

ConvergePoint Conflict of Interest Software on SharePoint provides an automated, centralized system that eliminates manual tracking, improves disclosure accuracy, and enhances compliance monitoring. With automated notifications, structured workflows, role-based access, and real-time reporting, organizations can handle COI disclosures more efficiently while reducing administrative overhead.

By implementing a technology-driven solution, compliance teams gain greater visibility into COI risks, faster response times for approvals, and a reliable audit trail for regulatory reporting. With ConvergePoint, organizations can build a transparent and accountable compliance framework that supports long-term operational integrity.

If you’re looking to simplify COI management and reduce compliance burdens, schedule a demo today to see how ConvergePoint Conflict of Interest Software can support your organization’s compliance goals.