Streamline and automate all statutory and labour law compliance processes to help enterprises with risk-free management. Reach us to fulfill the regulatory compliance needs.
How Compliance Automation impact your Business:
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As a result of the outbreak, all industries, from manufacturing to healthcare to finance to education, are stepping forward to digitize every facet of their operations. As a consequence of this, digital automation intersects with the compliance landscape to ease the compliance process for risk-free management. In this blog, we are going to discuss how compliance automation impacts the entire business process.
Identification of Non-Compliance:
"Being compliant is the base for reliability."
Adhering to the regulatory system not only mitigates risks but also helps to gain consumer trust and loyalty.
Compliance laws, filings, and acts are continuously proliferating across the country. That means "compliant" requires perpetual monitoring, tracking, and assessment to maintain a strong compliance culture. To simplify the work cycle, an automated platform centralises the compliance tasks in one place and identifies the areas of non-compliance in real-time before they manifest as a major risk.
Gaining a Competitive Edge:
"Automation is the key to gain a competitive edge."
Regulations, laws, standards, policies, and contracts make the compliance process cumbersome. The paper-based approach leaves room for pitfalls that cause threats to the management. Deploying automation streamlines the risk assessment in an efficient way to keep pace with the dynamic nature of the compliance structure. This reduces the burden on the workforce and lets them indulge in the tasks that create competitive advantages for your business.
Being Proactive:
"Being proactive is a strategy for business growth."
Risk management is an important strategy to build reputational value for the business. Navigating the automation landscape helps to monitor the regulations and compliance standards proactively. This proactive approach to compliance is used to build a strategy for a risk-free business environment by predicting the potential risks.
An automated framework for compliance completely eradicates human error. It provides a place to store large amounts of documents and evidence shreds for easy access and tracking. Practicing new innovative approaches and adopting technological advancements enables business growth in the Era of Information.
Comply Well Technologies offers a complete cloud-based solution for compliance requirements to help various industries stay in line with the plethora of regulations and laws.
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Quality and compliance are the building blocks of safety and efficacy of drugs and devices. They are the pathways for life science organizations to provide a meticulous framework to their businesses. According to a recent survey, over the years, the Regulatory scrutiny has increased across various aspects of the business including clinical operations, data privacy, and sales and marketing. These keen observations are driving organizations to explore the hidden opportunities and potential of innovative compliance. However, the shift in the global compliance requirements is pushing companies to continuously adopt the evolving standards.
To better satisfy the global Regulatory compliance requirements, businesses should modernize their approach, to ensure the needs of both, business as well as end-users are met. Modernizing compliance approach can result in the development of a value-adding strategy in terms of efficiency and shaping the future of compliance landscape. But from a holistic view, there are a few challenges that should be addressed first, like:
1. Lack of innovation
Even though the pharma industry is investing in technology, the fact that only a little emphasis is given to compliance is alarming. The lack of automation in the process and
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The leader is Global Talent Mobility, Topia has announced a new name and identity for Monaeo Enterprise Edition, which was recently acquired by the firm.
The new identity is Topia Compass.
This new name is for the purpose of creating a brand consistency within the wider product suite of Topia that also reflects the extended values as a part of the family of Topia and integrated applications.
Companies will be able to navigate the landscape of compliance management encountered when harnessing distributed workforce and business travel, by using Topia Compass.
This compliance management will prove to be useful now more than ever since firms are embracing remote as well as distributed workforce during the ongoing global Coronavirus pandemic.Topia Compass Delivers Distributed Workforce Compliance ManagementNishant Mittal, co-founder of Monaeo and now SVP & GM, Business Travel at Topia stated that the addition of Monaeo to the product suite of Topia is solving quite a critical need that is not met in the market which is of bringing together legacy talent mobility with the remote workforce and business travel that are of dynamic nature.Topia Compass will continue to be made available to clients as an independent solution or as a part of the broader suite of products of Topia, powered by the Topia One platform, inclusive of –Topia Compass – Business Travel and Distributed Workforce Tax, Immigration, Payroll along other Cross-border Compliance Management.Topia Go – Location Discovery and Command Center for Mobile EmployeesTopia Pay – Compliance Automation and Payroll DeliveryTopia Manage – Global Talent Mobility Delivery, Analytics, and AutomationsTopia Plan – Financial Planning and Interactive Move SimulationShawn Farschi, CEO of Topia stated that in present times, distributed employees, especially since the arrival of the pandemic, firms need modern solutions for keeping their employees safe as well as ensuring that they remain compliant across the regulatory landscape.Follow hrtechcube for more such hrtech news and related information.For more such Updates follow us on Google News Hrtech News
