Gap Between Management Expectations and IT’s Ability To Implement Appropriate Technologies and ProceduresGroundbreaking Study on State of Compliance Readiness in North America Underscores
Corporations struggle to align compliance and control with business processes in the face of mounting volumes of electronic content and a challenging regulatory environment
While the majority of chief executives confirm their attention on compliance issues has measurably increased in the past six years, less than half of IT executives consider compliance to be a “critical initiative with full management support.” Meanwhile, nearly 40% say their company's IT execs don't understand current regulations well enough to effectively implement compliance technologies and policies.
Those are just a few of the key findings in a comprehensive report issued today by the Business Performance Management Forum (BPM Forum) and AXS-One Inc. (AMEX: AXO), a leading provider of high performance records compliance management software solutions. The report, developed in partnership with Chief Executive Magazine and the IT Compliance Institute, is titled “Compliance Enabled Enterprise (CEE) the Future: Building the Compliance-Enabled Enterprise,” and it takes the closest look yet at an issue that has assumed mission-critical status within corporate America: While compliance issues around regulations such as Sarbanes-Oxley and related legal complexities have become a top management priority, many companies are still a long way from developing the IT infrastructure, policies and processes needed to align with compliance objectives. As a result, these companies remain seriously unprepared for a lawsuit, audit or request from a regulator.
See full Press Release.
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