Stripped down to the basics, enterprise compliance is the unified attempt by a business that arches various geographies that all constitute a single organization. Compliance management solutions essentially enables oversight of technology, people and processes with regard to data compliance.
Compliance also ensures that the rules and regulations set in place by governing bodies are not accidentally overstepped by anyone within the company. It also maintains the integrity of the company in the eyes of stakeholders, partners and customers. More than 90% of executives agreed upon the importance of organizational integrity making compliance management an integral component of business management.
Businesses that do not place importance on their compliance management suffer from multiple compliance pain points. Failing to harness the latest solutions can struggle with compliance, especially when there is no automation involved and only in-house resources are utilized.
Let’s take a look at the pain points arising from lack of a compliance management solutions, and how to address them:
- Overcome Fragmented Systems & Silos
When various systems have been implemented to handle a range of activities such as communication, CRM, project management, HR and so on, it becomes much more complex to manage compliance. This pain point can be ameliorated with a compliance management solution that spans the various systems in your organization.
It becomes all the more complex to deal with compliance issues when all of the data used is manually transmitted and stored. Such information often becomes highly fragmented and can be difficult to trace across storage devices, divisions and employees. Manually attempting to track and control such data is a huge and cumbersome challenge.
An automated solution that tracks sensitive data without manual effort can tackle this challenge.
- Minimize Managerial & Communicative Complications
The number of communication channels in place has a direct impact on the likelihood of misunderstandings and unnecessary complications between C-level staff and other individuals in your enterprise. It also slows down the working of your business to a great degree. Eliminating avoidable miscommunication can be created with a single source of data and visibility for optimized collaboration.
- Make Compliance Efforts More Efficient
When your compliance efforts are primarily manual, this is highly inefficient. This method is prone to numerous errors and takes up a lot of man hours of effort as well as a great deal of time to maintain and demonstrate compliance efforts. . Not to mention the additional time taken to rectify errors. An automated compliance management solution can boost efficiency saving time and cost while also minimizing manual effort for compliance.
If you’re interested in improving compliance management for your organization, the ComplyD team would be glad to help. Leverage our SAP-native data discovery and compliance enablement tool. Enjoy comprehensive visibility through a user-friendly, unified dashboard with analytics. You’ll be able to take pro-actively take steps to meet any compliance regulations for ANY industry or geography. Our scientific, robust DASH approach discovers vulnerabilities and secures and hardens your perimeter to meet compliance regulations and avoid regulations. If you’d like a taste of compliance simplified for your entire enterprise, please request a demo.
