Auditing And Compliance Are The Keys To A Profitable Exporting Business

blog, Compliance Management, Compliance Monitoring Software, Import/Export

Even if your business has never exported before, it may be considering doing so now in the wake of ChAFTA. The opportunity for up to a billion new customers is just too great to pass up in most cases, especially with tariffs being relaxed across so many industries. If your business is contemplating getting into the export game, or just expanding into the Chinese market, there are many additional risks that it will take on in the process. Here are 10 things to consider, in order to manage those risks effectively and grow your exporting business. In this article we examine the potential risks in exporting and how to minimise them using an effective auditing system.

7 Things Every SME Exporter Needs To Know About Protecting Their Brand

blog, Compliance Management, Compliance Monitoring Software, Import/Export

Your brand is your reputation, and your reputation determines your success. This is even more important when considering exporting to foreign nations, as the risks to brands being tarnished are harder to mitigate, and can ultimately be more harmful. A global reputation for poor products is obviously more difficult to repair than a national reputation. In this article, we look at ways SMEs can protect their brand and reputation when exporting, with attention on exporting to China.

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.

The New Global Economy Lowers Trade Barriers, But Not The Necessity Of Compliance

blog, Compliance Management

The internet has created unprecedented global business opportunities over the last decade or so, giving small companies the ability to compete with big players in countries all over the world. While this revolution is historic on every level, the world is now looking at possibly an even greater development: the breaking down of trade barriers between countries, even those that may have been inaccessible before.

Transparent Audit Results, Compliance Engagement and Workplace Safety

Audit Management, blog, Compliance Management, Risk Management, Work Health & Safety

Workplace health and safety can be a dull topic for employees, in most cases truth be told, but that doesn’t make it any less important. The challenge for management and compliance officers is to create engagement in this area for everyone involved, so that improving work safety becomes a regular part of a team’s goals.
In this article, we look at how companies can get employees engaged in compliance measures, to create a safer work environment.

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.