31 Days to a More Effective Compliance Program - Originating and Managing a Compliance Ecosystem

Thomas Fox
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Have you ever thought of compliance as an ecosystem? When you consider the concept, it becomes clear that this is one thing every company should strive towards. Obviously, every multi-national company must have a compliance program. But to have true effectiveness, your compliance program must be operationalized throughout the organization. One way to facilitate this is through the ecosystem concept.

2020 has brought a paradigm shift to See more +

Have you ever thought of compliance as an ecosystem? When you consider the concept, it becomes clear that this is one thing every company should strive towards. Obviously, every multi-national company must have a compliance program. But to have true effectiveness, your compliance program must be operationalized throughout the organization. One way to facilitate this is through the ecosystem concept.

2020 has brought a paradigm shift to corporate compliance as a result of technological and digital innovation. CCOs who cannot interpret the data from their own systems will likely find themselves consigned to the dustbin of corporate luddites. Compliance will be moving into a new era of collaboration and connection to more fully operationalize compliance to make all business stakeholders more efficient and at the end of the day more profitable.

Three key takeaways:

1. A compliance function’s customers are a variety of stakeholders.

2. Compliance can improve business processes.

3. A compliance ecosystem can help to operationalize compliance. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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