Managing Regulatory Change and Compliance

Is your compliance team able to stay up-to-date and compliant with regulatory change? As a compliance or risk officer, do you have the capabilities to effectively manage the risks associated with regulatory change?

If you hesitated in answering, do not fret. You are not alone in the race to stay ahead of regulatory change.

According to a Thomson Reuters Governance, Risk & Compliance survey, compliance professionals around the world are struggling to keep up with the growing demands of regulation. A combination of rapidly growing regulations and increasing responsibilities  for compliance professionals coupled with limited resources and constrained budgets are raising concerns that compliance teams have plateaued in their ability to successfully manage compliance.

As a result, we have witnessed a growth in technology-enabled compliance programs. Governance, Risk Management and Compliance (GRC) software have grown in scale in recent years to serve financial entities, facilitating a system to manage GRC as a whole. This includes advanced systems that automatically track regulations in real time and in turn, provide tools that identify regulatory trends and link strategy with operations to stay ahead of regulatory change.

These innovative systems have the capability to provide dashboards and essential tools that provide useful and insightful data, including KRIs and KPIs, enabling upper management, compliance and risk officers to be proactive in predicting problem areas and potential risks. In turn, this allows compliance professionals to align their resources in a smarter and more effective way, and provides financial entities the ability to maximize their operational proficiency.

Have you thought of incorporating a GRC software into your compliance program?

360factors, an Enterprise Regulatory Risk and Compliance Management Software Compliance Software Company, developed Predict360, a software platform to manage change, risk and compliance. Predict360 uses unique mapping and cognitive technologies to provide regulatory insight, predict risks and improve operational excellence, sustainability and margins. Predict360 vertically integrates regulatory information, policies and procedures management, enterprise risk management, audit management, case management, training management and provides visibility into all risk and compliance areas for Compliance, Governance and Risk executives, yet provides user friendly pre-configured tools to functional managers enabling them to manage their day-to-day risk and compliance tasks to improve efficiency, agility quality, productivity and enabling a culture of excellence in regulatory compliance.

Please let us know if you’re ready for a demo so you can get started on the path to an ideal regulatory compliance software.