Compliance Management

The Regulatory Compliance from a different angle

Recently, organizations have been paying close attention to regulatory compliance since the scope and requirements of their customers become more stringent. Regulatory compliance includes issues such as:

  • Laws, regulations.
  • Requirements of Regulatory Authorities.
  • Circulars.
  • Jurisprudence.
  • International conditions.
  • Policies and procedures.
  • Technical standards, International standards.
  • Code of Conduct and Ethics.
  • Contractual obligations with customers, suppliers, public authorities.

Monitoring the above requirements is a demanding process since it involves a substantial amount of information and requirements which in many cases are usually modified and changed. Failure to comply with the above often leads to fines, while it may affect adversely organizations’ reputation.

PRIORITY, understanding the above difficulties, has developed a specialized module that has been integrated into eQualSuite for the monitoring the regulatory framework of each organization

The features covered by this module are as follows:

  • Recording and collection of all regulatory compliance requirements of the organization.
  • Correlation of the requirements with documentation proving compliance.
  • Development of libraries with regulatory compliance issues.
  • Definition of required actions to meet regulatory compliance requirements.
  • Monitoring compliance ratio based on the relevant requirements.
  • Cost monitoring and financial consequences of non-compliance.
  • Compliance ration reporting.
  • Definition of KPIs.