Historically, compliance management has been initiated to respond to meet compliance requirements for a specific regulation. At an organizational level, it is usually achieved through compliance management processes which identify the applicable requirements, assess the state of compliance, assess the risks and potential costs of non-compliance against the projected expenses to achieve compliance, and then prioritize, fund and initiate any corrective actions deemed necessary.
A compliance management system can enable an organization to better handle any quality risks, ensure transparency across the supply chain, automate assignments to improve accountability, reduce compliance costs, and use real-time data and trending to allow managers to make the best strategic decisions to offset new risks and improve operations. It can also help protect brand reputation, which be affected if a recall or customer complaint occurs.
Business Process Automation and Synchronization
Automate manual and paper-based compliance management processes that are common across many industries such as such as corrective and preventive action (CAPA), audit management, and risk management.
Interaction with Suppliers
Opens up the lines of communication with suppliers providing more visibility and control into the supply chain. This line of communication can be used to prevent adverse events, protect brand reputation, reduce compliance risks, reduce compliance costs, and therefore improve long-term profitability.
Closed-Loop Quality Processes
Integrate compliance processes and leverage a closed-loop quality environment for sharing quality process data and content.
Visibility into Key Performance Indicators
As companies contend with increased regulation, competition and globalization, the ability to leverage and analyze quality-related data to gain insight across the enterprise is critical.