The survey conducted by Loudhouse Research of 1,010 executives with responsibility for governance, risk and compliance (GRC) in their organizations found increasing risk and regulation complexity is now the biggest pressure on organizations’ GRC functions.
Growth in new markets introduces new costs to
control, regulations to manage, and supply chain
complexities to solve.
Longer, more complicated cold chains mean that
collaboration with third party logistics providers
(3PLs) can help make the difference between
profitable simplicity and unmanageable complexity.
Companies are increasingly relying on their 3PLs
for services such as monitoring and intervention,
contingency planning, and cost control.
Reduce risk by improving packaging, visibility, and
establishing QA best practices.
Improved visibility, new tools, new monitoring
capabilities and appropriate packaging can also help
drive down costs for shippers.
Published By: MarkLogic
Published Date: Jun 19, 2017
There is opportunity in the ongoing turbulence throughout the financial industry; however, regulatory and compliance challenges absorb resources and distract focus away from growth.
Download white paper to learn about a smart approach to data and innovative tools that build resilience into a business looking to not just weather the storm, but seize the advantage.
- Executive Summary
- Challenges of Financial Markets Today
- The Need for a 360-View of Data
- How to Deliver:
Adapt to Evolving Regulations
Improve Compliance and Lower Cost
- Solution Architecture for Regulatory Reporting
- Case Study: Adapting to Regulatory Complexity
"Disparate systems led to frequent cycles spent correcting errors within the data”.
For many insurers, this accounting process will look familiar:
• Tools and processes vary for different lines of business.
• The needed data is stored in hundreds of files.
• Calculations are performed by multiple, undocumented spreadsheets, with little or
no version control.
• Humans have to step in to help cobble together data from different channels.
• The process of preparing and presenting financial data is not manageable or traceable.
• The path from input data to P&L numbers is largely a black box.
In a simpler time, this patchwork was passable. But change is coming. New regulations
will bring greater complexity to the accounting process for insurers, which will make
semi-manual, legacy processes look like a house of cards and raise doubts about the
validity of the final numbers on the P&L sheet.
How do you know for sure that you're managing compliance with labor laws and regulations correctly and accurately? Start by completing this checklist. Responses to a recent Kronos® survey of 812 HR and payroll managers identified five key compliance readiness issues that organizations need to address to reduce risk of noncompliance.
These issues were determined from questions such as:
•Can I easily respond to and communicate to my organization about new regulations within 60 to 90 days?
•Do I spend more time on duplicate data entry among various systems than I do on strategic initiatives?
•Does my workforce management vendor provide education and tools that help my organization stay compliant?
Download this piece and complete the entire checklist to see where your organization stands on compliance preparedness. You can also and find out more about the Kronos single unified platform for HR and payroll that can help you adapt to regulatory changes and reduce the data-entry complexity, co