Regulatory Compliance

Regulatory Compliance

The complex interrelationships between legal regulations present a growing challenge for companies in today’s globalized and increasingly interconnected economy in which financial relationships transcend national borders. As an important takeaway from the Global Financial Crisis, corporate actions are more and more subjected to new laws and regulations, reversing the trend toward deregulation that the economy saw before the crisis. Compliance with relevant laws and regulations has become ever more important for organizations today and tougher action is taken against those that are found to be non-compliant. That is why, in today’s economy it is codes of conduct, compliance with regulatory requirements and knowledge about current embargos and economic sanctions that help ensure a company’s ongoing growth and success. Leaders need to place a strategic focus on implementing compliance policies and procedures so as to keep their organization in good standing, minimize the risk to their business and increase efficiency. A modern compliance system has become something no company can afford to live without – anything a company does to compromise their regulatory compliance will land them in hot water.

 

If companies do not have a solid system in place to ensure regulatory compliance, they make themselves vulnerable, sometimes even against their better judgment. Even if no laws or regulations are violated – the very absence of a system that ensures and documents that a company takes every reasonable step to prevent misconduct and offences that warrant criminal prosecution is a risk not worth taking. When a situation arises and the company leadership cannot produce evidence that they have implemented adequate regulatory compliance procedures, they can be held liable themselves, even for the misconduct of employees or business partners. As a consequence, a company can get caught up in costly and time-consuming legal procedures or face fines and even imprisonment, all of which eats away at the company’s profit. In other cases, profit is lost when a company is not awarded a deal because they fail to meet the compliance requirements asked for by their business partners. If an organization has implemented their own regulatory compliance system, they are also less likely to have to accept compliance requirements imposed on them by one of their business partners which they have no control over. These are just a few of the reasons why it makes absolute sense for organizations today to protect themselves from legal risks in the best possible way by taking the necessary steps to comply with relevant laws and regulations.

Compliance with Applicable Laws and Regulations – But No Integration in SAP

Our innovative SOPLEX solutions provide invaluable support for companies in their day-to-day regulatory compliance management. By cooperating with renowned compliance providers, SOPLEX has been able to offer solutions that enable organizations around the world to collect relevant information and perform compliance checks. Our regulatory compliance solutions retrieve information from Dow Jones, SAPPER and other established providers.

Our software solutions allows companies to check their business partners against sanction and embargo lists and to retrieve the latest information relating to their change and risk management, thus helping ensure their regulatory compliance system is working properly.

Our SOPLEX solutions support the entire compliance check process – directly from within a company’s SAP system. Innovative SOPLEX technology with add-on features ensure seamless integration and extensive automation.

 

Discover our regulatory compliance solution.