Compliance Management Software
What Is Compliance Management?
These days, businesses face a number of organizational challenges, some imposed by government regulations, some formulated by the company itself to optimize internal governance. Compliance management is essentially the totality of the policies and practices that a given company enforces internally as a means to conform to these rules.
Challenges Companies Face
Government regulations take a variety of forms, depending on the type of industry in question. To pick one random example, the Occupational Safety and Health Administration (OSHA) has an assortment of workplace safety rules in place designed to protect the welfare of employees while on the job. Failure to comply with applicable regulations such as this can lead to costly penalties, including heavy fines and punitive litigation.
Internal regulations are those rules created by the company itself in order to improve its various organizational processes—for example, the procedures listed in the business’ employee handbook.
For many companies, regulatory compliance is full of hidden minefields. Large organizations are often forced to comply with a confusing patchwork of laws across various jurisdictions. They also must juggle the competing operational requirements of different departments. Small businesses can avoid many of these issues, but compliance management at this level can be unwieldly as well. A lot of these businesses rely on unwritten, informal compliance policies, which can be thrown into disarray if certain key personnel leave the company.
Creating a Compliance Solution
To cope with these various challenges, it is important for companies to establish a well-defined compliance management system. This should include several key elements:
- Developing or adopting relevant compliance policies
- Providing employees with compliance training
- Periodically reviewing policies to ensure compliance with current law
- Periodically performing audits to ensure compliance with policies
- Reporting findings of compliance audits to supervisors
- Enforcing corrective actions, if needed
An organized, centralized compliance management solution is the best option for companies that wish to streamline these processes. This allows companies to eliminate redundant tasks, create easy access to important documentation, and ensure uniform management functions. The advent of compliance management software gave the business world a highly flexible technological tool for handling these various functions and maintaining a unified compliance framework. With the invention of cloud computing, the reach and effectiveness of this software was substantially extended. Now it is easy for compliance managers to access the network virtually anywhere, with virtually any internet-accessible device.
How Aruvio's Compliance Management System Can Help
As a leader in compliance software, Aruvio is proud to be able to provide our clients with an extremely effective user-friendly solution that allows them to juggle various tasks relevant to their corporate governance needs.
Aruvio’s common controls framework enables organizations to meet cross-industry regulations and industry specific regulations such as ISO, SOX, NIST, FedRamp, FCPA, HIPAA, HiTech, and PCI efficiently by avoiding redundant control testing and auditing. Aruvio solution combines software and content to deliver solutions for effective and sustainable compliance.
Please contact us for a FREE demo or more information about the compliance management solutions available through Aruvio.