The global regulatory environment has created increased complexity and burden for organizations operating in multiple geographies with different regulations. The scope has expanded beyond customers to suppliers and partners.
Regulators expect compliance programs to not only offer early detection, but to have procedures and teams in place to act on red flags. Continuous compliance is now considered essential for business continuity.
Risk associated with customers, suppliers, contractors, vendors, and partners leaves companies vulnerable to brand and reputational damage, regulatory violations and fines, as well as business operation interruptions.