Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business. Violations of regulatory compliance regulations often result in legal punishment, including federal fines.
If you own or work for a company then you may be aware that you and the company have obligations to comply with requirements. Those requirements could be legal requirements, such as the requirement to provide a safe workplace. They could be ISO requirements, such as having a system in place to track records or environmental impacts. It could be client requirements to ensure you have a met your obligations under the contract. So picture this, you work for 5 different clients in 5 different countries, all with different regulations and requirements. How do you firstly, identify all of the requirements and secondly, how do you map each requirement into your organisational risk framework? This is typically a job for a whole department and even then it may not be done right?
Wouldn’t it be great if you could have a central list of every requirement that you need to comply with and then had these mapped to your audit system so you could demonstrate that you were managing your requirement risk? Then had those same requirements linked to documentation in your management system to show auditors how the requirements were being addressed? And finally wouldn’t it be a huge help if you could profile tasks and run queries on which ones had specific obligations under legislation?
This is what we have done at Contego. We have brought all the individual modules of auditing, document management, task analysis, requirements and people into one system. It makes a labor intensive task much easier and more efficient so that less people can effectively manage organisational risk in a system that makes everyone’s life easier.
Contact us today to see how we have helped companies just like yours become more efficient.