How are companies managing their drive toward sustainable compliance? Business Finance assembled a panel of finance executives and technology experts to find out.
Business Finance: Compliance management software and the cost associated with utilizing it effectively will likely continue to be significant. What are some of the things that companies can do to manage spending effectively in this area?
Vani Kola, CEO & Founder, Certus: The software costs are about 15 to 20 percent -- maybe as low as 10 percent -- of overall compliance costs, from our experience so far. To me this is not a significant cost. But what companies can do with their IT structure to gain higher quality of compliance is standardize the IT infrastructure to enable users throughout the enterprise to adopt the software.
Doug Robinson, SVP/Controller, Computer Associates: As we've gone through the compliance process, I've seen the benefit of systems integration. I think companies that don't have an integrated infrastructure can gain a lot by getting the right software tools in place and integrating them, and then the work really kind of takes care of itself.
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