In order to establish a compliance infrastructure that minimizes the business, operational and reputational risks associated with non-compliance, companies face the overwhelming task of managing the rules and regulations that impact their business. This means developing and constantly updating inventories of these rules, ensuring that internal controls are in place to comply, and that they are accessible and easily understood by different actors within the organization.
A proper regulatory change management process, supported by appropriate automation and technology, helps maintain an inventory of regulatory obligations, connects them to your people, and leverages those connections to enable more efficient compliance controls and reporting.
As a professional tasked with managing your company’s compliance, you inevitably face the challenge of keeping up with fast-changing regulatory environments. Rules, regulations and their updates are rapidly increasing in both volume and complexity.
Moreover, the compliance burden is often compounded by stretched internal resources and increased enforcement by government regulators, self-regulatory organizations and internal policies. As a result, it is no wonder that regulatory compliance is consistently highlighted as the number one concern for compliance officers, particularly at consumer packaged goods (CPG) companies with global operations.
Cost: No Charge
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