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The 3 Questions The DOJ Wants You To Answer About Your Compliance Program

Predict360 Compliance Management System

The US Department of Justice has recently updated their criteria for the evaluation of corporate compliance programs. The new updates are in line with a trend we have seen in other parts of the regulatory framework – a shift towards evaluating compliance programs instead of simply evaluating compliance performance.

There was recently a joint statement released by federal regulators which encouraged a focus on improving the compliance framework itself, and now we see that the DOJ has taken a similar stance. In their new guidance document they outline 3 fundamental questions that will be considered during an evaluation:
Question 1 – Is the corporation’s […]

Do Your Organization’s Compliance Officers Have The Compliance Tools They Need?

Predict360 Compliance Management System

We all expect the highest level of performance from the compliance departments within our organization. Compliance is critical to any business in a regulated industry, and a misstep in compliance can cause significant damage to the business, its reputation, cash flow, and even its ability to make its own decisions. Everyone knows this importance, yet most compliance officers don’t seem to have the compliance tools that they need.

The perils of off-the-shelf general-purpose software
Most business provide their risk and compliance departments with general-purpose software such as Microsoft Excel and Microsoft Word. Now don’t get us wrong – these are fantastic applications and are still unbeaten when it comes to doing what they do. However, they are also not risk or compliance solutions. […]

4 Steps to Improve Compliance Management

Predict360 Compliance Management System

The necessity of compliance management ensures that businesses take it seriously. However, many businesses end up not being satisfied with the results. No matter how many resources they dedicate to managing compliance, the results seem to stay the same.

That happens because managing compliance isn’t simply a process that can be improved by increasing the employees working on it – there are diminishing returns in increasing compliance personnel. If businesses truly want to make a difference, they need to look at their overall compliance management framework and make structural improvements.
Step 1 – Increase […]

Improving the Enterprise Cyber Risk Management Framework

Predict360 Cyber Security Management System

Everyone understands the importance of cyber security. We live in the age of information and communication, where every business uses digital communication channels. Businesses use these channels to transmit and store highly confidential business and customer data.

A breach here can result in heavy monetary losses, penalties, loss of reputation, and most importantly, the loss of loyal customers. Cyber risk management, however, has not become as popular as it should be. Let’s look at what it is and how it differs from normal cyber security.
What is cyber risk management?
The need for […]

Enhancing Document Management Workflow Through Technology

Predict360 Policy and Procedure Management System

Document management workflow is one of those things which people don’t realize they are missing until they see it in action.

This is a reaction we are used to when we demo the Predict360 Policy and Procedure management system, which contains a comprehensive document management system. When people see how convenient things can be with the right tools it is hard for them to back to the inconvenient way of doing things.

All businesses use documents […]

Volkswagen Announcement Reaffirms the Importance of Culture of Compliance

Compliance Management System

Volkswagen recently suffered a major compliance scandal. The organization had been misreporting emission data for years. They were fined $25 billion for the scandal which was termed ‘’Dieselgate’’ by the media.

The whole scandal and fines were also widely covered in mainstream media, which resulted in reputational losses that will take decades to rebuild. The new leadership started by doing an in-depth audit of the organization to understand how such a breach of ethics could occur within their organization. They found that the lack of […]