If you have to remember that your Annual Accounts are to be submitted to the Stock Exchange, it is easy to remember. If you were to be listed on 20 stock exchanges, you will find it hard, but still remember since it is just one compliance across geographies.
Now, take the example of hundreds of rules and compliance for each of your business unit in each country and for each month in the calendar year. Numbers can quickly multiple and easily cross more than 5,000 to 10,000 compliance points during the year.
Manual methods or the use of excel will fail you one day. It is not effective or efficient. In the end, with regulatory penalties increasing to unbearable amounts, automation is the only solution.
Riskpro, through its strategic partners, offers Legal Compliance or simply Compliance Software for medium to large businesses. Simply put, compliance software help companies in the following ways.
Legal Compliance Acts covered
To see a full list of the legal compliance covered by the compliance management software, please click the link below.
Alerts and Reminders
Compliance software remembers approaching tasks and sends reminders to all stakeholders on pre-configured intervals. Triggers stop once the tasks are completed.
Upload evidence of compliance.
With more than 3,000-5,000 compliance points for a large company during a year, how do you catch fake compliances whereby employees confirm compliance, but in fact there is no compliance or it is a non compliance. Well, you can ask them to upload documentary proof, pdf, images of licences, returns etc. Then a central compliance team can monitor these submissions on real time basis.
The first and most important piece in the compliance software is the rules or the actual compliance that apply to the company. As you may have guessed, dynamic regulatory compliance means that your compliance repository can be soon outdated and you may actually miss out an important compliance. Rules management enables users to be updated of current developments, provides them with regulatory feeds that they can then convert into rules.
Once rules are created, these are then mapped to a particular department that is responsible for the management of these compliances.
Top reasons to Deploy our Compliance Software
Request a Demo
For a free, no obligation demo, please send an email to firstname.lastname@example.org for more details on how we can help your company. For a small monthly subscription, you can take the first step to compliance without boundaries.