Are SOPs and Procedures the Same?
Not quite. Most staff use the terms interchangeably - and that's fine in casual use. But for compliance and internal consistency, it's worth understanding the difference between a Standard Operating Procedure (SOP) and a broader procedure.
Standard Operating Procedures (SOPs)
SOPs are step-by-step instructions for carrying out a specific task or function. They're often used in high-risk, repetitive, or regulated workflows (think: cash drawer balancing, wire transfer handling, or loan processing steps).
Procedures
Procedures are broader. They may describe a full policy, provide guidance, or outline how a process works across teams. Where an SOP might list the exact steps to close out a teller drawer, a procedure might explain the overall cash-handling framework and responsibilities.
Why the Difference Matters
- Staff need to know when to follow exact steps vs. exercise judgment
- Compliance teams need clarity on what's mandatory vs. interpretive
- Examiners often ask for both - and expect them to be clearly labeled
Common Questions
What's the difference between a procedure and an SOP?
An SOP (Standard Operating Procedure) provides detailed, step-by-step instructions for completing a specific task. A procedure, on the other hand, outlines the broader process or policy that may span multiple departments or roles.
Why does the distinction between SOPs and procedures matter for banks and credit unions?
For audits, compliance, and clarity. SOPs demonstrate how tasks are executed consistently, while procedures reflect organizational intent and oversight. Both are often required by regulators and examiners.
Can our intranet manage both SOPs and procedures in one place?
Yes. SimplifyIT lets you label, organize, and track both within your intranet - with full version history, audit trails, and powerful search built in.
How SimplifyIT Helps
With SimplifyIT, you can clearly label, organize, and track both SOPs and procedures in your intranet. Staff can search for terms like teller SOP or cash procedure and instantly access the latest version - complete with audit trails and version history.
One Place for All Your Operational Knowledge
Whether you call it a policy, procedure, SOP, or playbook - it needs to be findable, trusted, and consistent. Dive deeper into the SOP Management feature, Watch a short demo, or book a live walkthrough to see how SimplifyIT can help you build that foundation.
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