How our regulatory & compliance solutions solved similar challenges for our clients
Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting technology to consolidate sets of compliance controls. Technology is critical to ensuring all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources. According to Tripwire’s “The True Cost of Compliance”, “the average cost of non-compliance being 2.65 times higher than compliance”, it is critical your organization to implement proactive measures to protect the company.
Every organization has different regulation tracking, reporting, and compliance needs. With true solutions – vs. point systems – an organization reduces redundancies and compliance gaps, while increasing efficiency and risk mitigation.
Our clients have utilized our solutions to manage many different types of regulations, such as:
- Decreasing the risk of employee non-compliance with company policies.
Important knowledge about staff awareness and agreement was lacking. Unchecked, this could have posed a real threat to our compliance status.
- The need for instant, real-time access to subsidiary and related data and documents for stakeholders.
It really did enhance the level of service we were able to provide to our stakeholders; when we are asked for specific information, we are now able to generate reports and send as an email.
- Ensuring all employees comply with rapidly changing regulations, both out in the field and in the office.
A solution was required to integrated responses and enable the reporting of incidents occurring in the field, operational risks to prevent incidents and to track training plans to ensure only qualified personnel could work in high risk [and heavily regulated] environments.
- Managing strict, complex regulations without sacrificing business goals.
With the advent of stringent regulatory requirements such as ‘Know Your Customer’ and in the interest of being able to provide a prompt and efficient service to clients, along with increased paper handling and storage demands, we identified our need for a more inclusive solution.