There are aspects of running a business that are viewed by most as necessary evils, but they can be turned into positives with a change in our viewpoint. Compliance falls into this category more often than not. The cost of compliance can be counted in money, time and resources, and these costs can be viewed two different ways. The wrong but more common view is reactionary, seeing compliance as a necessary evil that is a pain and causes problems.
The more helpful view is proactive. With this mindset change, compliance is seen as unavoidable – just as in the negative mindset. But because it’s unavoidable, the proactive organisation makes the decision to find the silver lining. That silver lining is that fact that big data can be collected through the compliance process. As anyone using big data is aware these days, where there is a lot of data, there is the possibility for analysis resulting in significant positive solutions to improve the company and create better efficiencies and productivity.
A Case Study
Our product, Compliance Checkpoint, is designed to streamline, simplify, and automate the requirements that every business has to one extent or another to stay compliant with their associated regulatory bodies, whether that’s government, industry standards, or any other type of standardization. But there is an added benefit to using it that our clients have seen over the years which is happily in step with the current trend of using big data to make better business decisions.
One water authority client has been using Compliance Checkpoint for more than 10 years now, and the data collected by the software over time has resulted in invaluable insights on how to operate in certain areas going forward. Having seen the results that this data has captured over more than a decade, they can now:
- Ensure that quality materials are installed during development phases by land developers and their contractors,
- Prevent the risk of broken pipes and disruption of services to the communities they serve,
- Reduce the lifetime asset maintenance costs over its lifecycle,
- and Accurately predict when assets need to be replaced,
all based on the historical data collected by software which was originally intended to simply gain productivity by digitising their field data.
Good News for Every Business
Broken down into simple and broad terms, this business used Compliance Checkpoint to gain productivity, but over time the data that the software collected allowed them to also mitigate risk, prevent losses, cut costs in various areas, and save time and money in the planning phase of projects. That’s the power of big data – it’s information that allows a different outlook on something and can turn a negative into a positive.
But the good news gets even better, because compliance is something that every business has to deal with at some level. That means that by using a product like Compliance Checkpoint to improve productivity and streamline an otherwise unwelcome but necessary area of business, your company can discover other ways to improve business through analysis of the data collected. That’s a win-win.
Compliance Experts provide clients with access to the Compliance Checkpoint Software Technology, which is complimented by our Professional Auditing and Consulting services. This is our unique point of difference. To learn more, visit our website or download the 30 Day Free Trial of Compliance Checkpoint.