Amidst constant regulatory change – with high non-compliance penalties – successful organisations must evolve

Regulatory change is constant

Improved Compliance Management - The World of Ever-changing Regulation

We live in a world of ever-changing regulation

  • Expanding scope: drives the need to cross boundaries – to involve third-parties.
  • Accelerating pace: drives the need for improved awareness and agility – to accommodate rapid evolution in technology, social, environmental and cultural aspects.
 Regulatory alerts have grown five-fold since the financial crash in 2008: from 8,700 to over 50,000 in 2015 (source: Thomson Reuters: Whitepaper – Culture of Compliance)

Non-compliance is costly

Improved Compliance Management - Non-compliance Costs

There are significant costs associated with failure to comply

  • #1 Audit & Monitoring is the most costly aspect of compliance management – Compliance Insider, issue 18
  • 67% of companies have policy in place but think employees don’t follow or read them – Deloitte 2016
 £905m total FCA fines levied in 2015 (Source: Financial Conduct Authority)

Compliance strategy is evolving

Improved Compliance Management - Emphasising Organisation Value

Leaders look beyond policies and procedures to organisation value

  • Compliance Culture: Commitment to an environment where compliance is the norm
  • Embedded Compliance: Investment in operational compliance to reduce costs
  • Third-Party Compliance: Extending compliance and monitoring to the full supply-chain
 Efficiency → Trust → Growth

A consistent experience is required

Improved Compliance Management - Consistent Experience is Required

Use Improved Apps to create a consistent experience across stakeholders

  • Enable Continuous Awareness and Learning
    • Improved Help: enables delivery of curated, best-practice compliance help and training content for the task in hand, coupled with Enterprise Help Portal
  • Drive effective communication
  • Include employees and business partners
    • Support for Communities and Classic Portal environments, with conditional visibility enable extended reach for compliant operations and monitoring to multiple groups beyond the enterprise
  • Build compliance intelligence for continuous improvement
    • Inbuilt analytics and the use of Salesforce records for all operational data enables audit trails and integrated reporting across business operations and compliance functions.

Example: How are you keeping GDPR compliant?

How do you educate your employees of new policy, or policy updates on a regular basis? Do you have visibility of who has acknowledged and understood your critical communications? Can you automate regular reminders e.g Monthly or Quarterly GDPR policy reminders?

Improved NoticeBoard for Salesforce is a simple solution that just works… It can help your company and employees stay compliant, whilst providing you with full audit trail with real-time exception management.

× Improved Apps Shopping Cart

Your cart appears to be empty! Please close this box and choose your desired product(s).