The Strategy Challenge – Effective Roadmaps
A compliance strategy is the company’s roadmap for effective management. A well thought out approach will allow an enterprise to measure and align corporate objectives to industry established best practices and standards. Doing this can help organizations reduce cost and streamline processes. A solid strategy addresses many of the questions and challenges that arise from the need to comply. Are any of the following questions familiar?
- What happens if there is a change in policies and procedures that effect the organization?
- How do I integrate these changes into my existing compliance framework?
- What do I do when a new requirement develops?
- How do I correlate this across the business units within the organization?
- Do I have policies and procedures that are redundant or that contradict each other?
- How do I link my policies and procedures with standards, regs and best practices?
- How do I link environmental standards with IT standards?
- Are my projects being run effectively?
- How do I know who to train?
These challenging questions, and hundreds more, have been addressed and solved with C2C’s methodology.
Why It’s Important
Governance, Risk and Compliance (GRC) has many facets and has a profound effect on the enterprise. Today’s business environment is highly regulated and includes many ‘global’ mandates. Internal controls and audit demands require being able to address the diversity of most requirements and getting questions about compliance answered in a timely and cost-effective manner. Many solution providers have tried to remedy this challenge by offering compliance solutions based purely on technology or on regulations and standards that sometimes fall outside of the jurisdictional borders of where companies are in the world. Many of these solutions have not performed as promised because at a strategic level they’ve failed to maximize the advantages gained by mapping all relative regulations through to the operational level of the enterprise. A solid and unified compliance strategy, with a cross-regulatory approach, that’s tied to processes and departments, is paramount. Combined with extensive reporting capabilities, this strategic approach gives your company valuable insight and minimizes expenses and non-compliance disruptions to your business – streamlining and simplifying management oversight efforts.