As the regulatory landscape is constantly evolving, Compliance Risk Concepts (“CRC”) is issuing its monthly […]
This is the third of our series on Building a Business Case for Compliance Technology for Hearsay Systems. In this article, Mitch Avnet shares the process of building a business case within your firm to support investment in compliance technology. Implementing compliance technology doesn't have to happen all at once, and it doesn't have to happen inhouse. Cloud-based Service as a Solution (SaaS) products can pave the way for more successful implementation.
Integrating compliance technology into your organization is never a one-and-done proposition. If you’ve conducted due diligence and identified the gaps in your firm’s workflows and systems – as discussed in last month’s blog – chances are you’ve found more than one and in more than one area. Interaction and interdependency between departments typically means any solution you decide to implement will have an impact on other areas of your organization.