Organizations across many industries are tasked with documenting their adherence to various regulatory requirements. From data protection laws like GDPR to industry-specific regulations, the compliance effort can be significant. In this blog post, we highlight some of the challenges and strategies for effectively documenting compliance with regulatory bodies. Read on…
According to the Bureau of Labor Statistics Report of Tenure in 2022, the average tenure of all workers is 4 years. That number goes down to an average of 3 years for 25-34 year olds. If average tenure is 4 years, then a company of 200 has 50 employees turning over each year. Since your corporate human assets are replaced every 4 years, it makes sense why successful companies use process and process documentation where-ever possible. Otherwise, 1 in 4 employees could be making questionable decisions based on whatever limited information and spotty business records that they found.
However, a business process doesn’t provide new employees with answers, it provides the path to find the answers. But what if the process is only loosely followed. …
What’s your company’s superpower? It could be a technology, a marketing edge, engineering talent, or exceptional service. Whatever your secret sauce is, it’s important in generating your revenue. What could be its kryptonite? Obviously, whatever could harm or stop your superpower would logically be your kryptonite.
It’s also obvious that you want to prevent kryptonite situations from occurring. You visit important customers frequently, pay a lot for marketing and engineering talent and invest in your technology and operations. But somebody always wants to see proof. You do have the critical documentation, right?
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As we roll out compliance workflow I am reminded how information technology (“IT”) is so tightly connected to the concept of compliance. Information, as in vulnerability reports, access requests, firewall logs, hiring statistics and much more, is the key component for compliance. Technology, as in firewalls and workflow, is both the end purpose and solution. You know the headlines, data breaches, ESG issues, government regulations, these are all issues that require corporate compliance measures.
Compliance is basically setting up policies and procedures that ensure best practices for corporate security, effectiveness, goals, etc. and then auditing the adherence to those policies and procedures so that risks can be avoided. The best solution to minimize the deviation from the policies and procedures and to lessen the burden of audits, is to use technology…
