The digital future of risk and compliance management

Dec 26, 2023 | Operational Excellence

Why intelligent automation, process mining and a process-oriented approach are essential to minimizing compliance risk

“Act only according to that maxim whereby you can, at the same time, will that it should become a universal law.” — Immanuel Kant (1724-1804)

Compliance requirements are on the rise

In the modern business world, companies face ever-increasing governance, risk management and compliance (GRC) demands. Effective GRC is a key factor in gaining the trust of investors, regulators and customers. In addition, penalties for non-compliance or errors in compliance implementation are increasing.

The number of compliance requirements has increased steadily in recent years. Organizations must now adhere to an ever-expanding list of national and international standards related to quality, data protection, IT security, sustainability, corruption and human rights amongst other areas. Keeping track of new regulations and proving compliance can be difficult and expensive.

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