Good Auditing Practice Converts A Supply Chain Into A Value Chain

Audit Management, blog, Compliance Management, Compliance Monitoring Software, Import/Export, Risk Management, Supply Chain

There is often some confusion about the difference between the traditional supply chain and what has come to be known as a “value chain”. In reality, the two usually overlap and can even be the same “chain”. The difference lies in the high-level view of the process, but it can be argued in most cases – if not all – that a supply chain that isn’t also a value chain is a sign of poor business practices.

Today we look at creating a value chain for business, and how effective auditing is just as important as ownership for each link in the chain.

Real Time Risk Management Is Not Optional Anymore

Big Data, blog, Compliance Monitoring Software, Risk Management, Trust

Businesses in Europe and the US are poised to leave us behind. That may seem a bit blunt and perhaps is a slight overstatement, but the essence of the statement is true, according to new global data released by multinational professional services firm Ernst and Young.
The survey in question looked at businesses around the world and how they are managing their risk. While Australia has historically “been at the forefront of risk management”, we are now merely “on par” with our industrial global counterparts, and that is a concerning trend.
Today we consider how real-time risk management is necessary, in order to compete in global business.

How To Move From Reactive To Predictive Compliance

Big Data, blog, Compliance Monitoring Software, Operational Compliance, Regulatory Compliance, Risk Management

Compliance in many organisations is reactive rather than proactive, and perceived as a necessary evil to stay in business. More sophisticated organisations who place a higher value on compliance, however, are using the data from compliance audits to gain competitive advantage and mitigate risk exposure.
Compliance data, when collected correctly, is rich business intelligence and offers invaluable insight into internal and external business process, performance and control metrics. Digitised compliance monitoring systems are a necessity to gather this information in real-time, which is the only way this application of the data is effectively possible. The result of this forward thinking application of data is a state of “predictive compliance”.
Today we consider how real-time audit data can allow businesses to predict and prevent future compliance risks.

Too Big to be Non-Compliant, Why Take the Risk

Accreditation/Certification, Compliance Management, Compliance Monitoring Software, Operational Compliance, Regulatory Compliance, Risk Management

As we’ve preached for years now, regulatory compliance is more than just important in business, it’s an absolute necessity. And the larger the business caught in non-compliance, particularly in cases that affect public health and safety, the deeper and wider the implications and consequences of that non-compliance becomes. This has become very evident in the current scandal involving Volkswagen, the third largest automobile manufacturer in the world.
In this article, we look at the potential large-scale consequences of non-compliance, as demonstrated by the Volkswagen scandal.

How HSE Practitioners Can Better Manage WHS

blog, Compliance Management, Compliance Monitoring Software, Work Health & Safety

The Safety Institute of Australia’s is going to be held on 16-17 September 2015, at the Melbourne Convention and Exhibition Centre.
This Convention will bring together industry thought leaders and will encourage national and global involvement across the two days, outlining the need for change in systems and how looking beyond safety disciplines may be the answer.

Compliance Experts are a proud SIA Silver Corporate Sponsor and will also be sponsoring the plenary session titled “Challenging the Paradigm”

In Compliance, Big Salaries Come With Big Risks and Responsibilities

blog, Compliance Management, Compliance Monitoring Software, Operational Compliance, Regulatory Compliance, Risk Management

Compliance has become a huge industry, partly out of wanting to simply do good business, but mostly out of the necessity of complying with ever-increasing rules and regulations from governments and other regulatory agencies.
In response to the new demand, companies are now paying hefty salaries to compliance officers. As with all things, however, great rewards come only from great risks and responsibilities.
In this article we explain why Compliance Officers are earning higher salaries and why they are personally at risk for non-compliance.

Risk Management Doesn’t Mean Risk Aversion

Audit Management, blog, Compliance Management, Compliance Monitoring Software, Risk Management

There is a disconnect in today’s businesses that is causing significant losses in market value. That disconnect is shown in two ways. First, many companies equate risk management with risk aversion. That is, instead of actively monitoring and measuring the risk controls they put in place, they are simply setting the controls in place for maximum risk avoidance and then letting them ride.

Managing the PCI Compliance of 3rd Party Vendors

blog, Compliance Management, Compliance Monitoring Software, Risk Management

Third-party compliance issues can be a nightmare if you don’t do your due diligence (say that five times fast!). The truth is that there is still a lot of confusion when it comes to what third-party service providers are specifically required to be compliant with, but ensuring that compliance is your responsibility if you’re going to deal with them.
To keep your own business safe from costly compliance violations, you must check out and validate the third party service providers (TPSPs) you do business with.

Saying Goodbye to SSL and TSL

blog, Compliance Monitoring Software, Data Security & Privacy Compliance, Risk Management

Winston Churchill once said “To improve is to change; to be perfect is to change often”. Some might argue that we’ve taken that idea to the extreme and decided to be a society under constant change, in which case we should listen to Mr. Churchill’s further thought, that “There is nothing wrong with change, if it is in the right direction”.
In the case of security and compliance, that constant progress is definitely a good thing. The more secure customer and company data can be kept, the better. Keeping products safe and in good shape along supply lines is also good.