Compliance 2.0 Is On The Move & It's Not Stopping

Compliance 2.0 Is On The Move & It's Not Stopping

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The days of doing compliance alone are gone. Its time to accept compliance 2.0 @sourceintel
Monday, April 20, 2015 - 1:30pm

CONTENT: Article

The days of going at it alone are long behind us. The days of a lone compliance professional getting meshed in with organizations, making sure they are taking the proper steps to be compliant are things of the past. Understandably so, the ability that technology has intercepted the professional compliance industry has made for a much more elaborate effort to make sure rules and regulations are being followed. The idea of sharing and networking has broadened the ability for those within the profession to be very knowledgeable on the types of compliance programs they are subject to. Welcome to Compliance 2.0 or as we sometimes call it “Getting off of the Spreadsheet.”

Michael Scher of the FCPA Blog talks in detail about the evolution of compliance and how it’s shifted from a single person operation to a highly networked and collaborative effort between many compliance professionals.

“Today's compliance professionals are sharing what they know within their companies. And outside, they're pooling their collective knowledge and tapping into new resources -- membership groups, conferences and workshops, publications like the FCPA Blog and others, and social media message boards.”

Technology has given birth to the idea of idea sharing and knowledge collection through means of easy to use technological platforms. Although the concepts of sharing information amongst external parties rely heavily on the use of technology, so does the internal mechanism of what is comprised of a compliance program. This is also known as compliance 2.0 and more and more organizations are seeing how beneficial it is to handle its company’s compliance needs.

So what’s next and where does compliance go from here? It all relies on what the compliance professional chooses to do. Although the days of working alone are gone, many tend to stay with what is comfortable and choose to continue with self-discovery tactics and spreadsheet style management, but what many do not know is that 3rd party management systems and cloud based functionality software not only increase your focus on being up to date on your compliance responsibility, but allow for increased visibility within your internal and external operations. Compliance 2.0 is here, it’s not going away and you should use it to your advantage. Hear how..