Today compliance obligation definitions are broadening and are most likely impacting multiple areas within your organization. These evolving requirements create more initiatives and compliance tracking for organizations to manage. It is also increasingly difficult to define who owns your culture of compliance and who is responsible for tracking these initiatives. One common struggle for many organizations is the ability to collect reliable data for compliance management obligations.
A recent poll by SmartBrief asked executives: What is the weakest link in your infrastructure for reliably collecting and processing data?
The majority of respondents, 57%, cite human inefficiencies in the office. 17% said that failure of communication systems was the weakest link and 15% noted failure of measurement devices. 10% were honest and said there are just no systems in place to get the job done.
You can implement compliance programs to meet regulatory requirements. However without reliable data, how can you measure and prove you are being effective? If you haven’t already, it is extremely important for your organization to address your weakest links so you can maintain accurate reports and monitor the completion of compliance obligations.
Automation is Your Key to Efficiency, Communication & Tracking
It is crucial that you automate your compliance management obligations so you can increase organizational efficiencies, effectively deliver on communication throughout your organization and monitor and report on the status of compliance initiatives to meet your business needs.
Compliance management systems are built to automate program initiatives and obligations, enabling your organizational success and effectiveness. Flip the switch on your infrastructure weak links by implementing an automated compliance management system. Not only will this improve your organizational efficiencies it will also make your Board of Directors very happy.