In today’s age of accelerating regulation and scrutiny, organizations must ensure they are compliant with operating objectives, externally imposed laws and regulations, internal policies and procedures and stakeholder commitments so as to avoid the risk of damage to the company’s business model, reputation and financial position.
Compliance requirements have not traditionally been addressed as core operating requirements. As a result, existing compliance processes tend to be disconnected and grow layer upon layer – adding cost, increasing the likelihood of duplication and inconsistency and reducing the overall agility of the business. This reactive approach leaves a gap between the processes designed to keep the organization in line with its regulatory obligations and the policies needed to protect and improve the business.
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