Database Reference
In-Depth Information
Regional-focused
Compliance
In this chapter, we will discuss how organizations can build and manage an
integrated compliance platform to address regional regulations in major economic
zones around the world. Many of the successful organizations must operate
in a global economy to meet market demands, optimize supply chain, employ
skilled workers, and acquire assets. As a result, such organizations are impacted
by regional regulations that vary by country. The cost of compliance is growing
for organizations that operate in multiple economic regions with the rise in the
penalties imposed for non-compliance by the regional regulators. According to
the Competitive Enterprise Institute report on U.S. federal regulatory compliance,
the cost for compliance had reached an estimated $1.157 trillion in 2007.
Many organizations that manage compliance in silos are seeking ways to take a
more holistic approach to implement an integrated framework for coordinating and
monitoring compliance activities. The increased risk exposure in complex and global
business processes requires that compliance management be part of an integrated
framework. Redundant and disparate compliance activities create barriers for
regional process owners.
Search WWH ::
Custom Search