ASIC’s report on regulatory technology

ASIC’s report on regulatory technology

AU Energy Compliance, Financial Services
The Australian Securities and Investment Commission (ASIC) has published a report (Report 685) on ASIC’s Regtech initiatives during 2019-2020. We’ve spoken previously about the benefits of advanced software when it comes to regulatory compliance. Compliance processes are generally complex. They have many moving parts, and the amount of time and money required to enact processes can be high. Compliance management systems such as the Compliance HUB can simplify these processes and save a business both time and money. The ultimate aim of products such as the Compliance HUB is to embed compliance into decision-making. Compliance management software can simplify compliance processes by streamlining and simplifying tasks, eliminating redundancies, and improving efficiency. For example, automation can be used to automate the review and approval of large quantities of documents. This frees…
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Should Your Business Invest in a Compliance Management System?

Should Your Business Invest in a Compliance Management System?

AU Energy Compliance, Financial Services
Businesses around the world face challenges in managing regulatory compliance. Compliance requirements and the regulatory environment are constantly changing and there is no 'one-size-fits-all' solution. Companies are constantly faced with a balancing act between the risk of not complying with rules and the cost of having to comply with the rules. Companies are not the only ones that are affected by these challenges. They have a huge impact on the public sector and the general public. When it comes to investment in software, businesses typically start with a customer relationship management system and then sales and marketing software. Traditionally, compliance software is not considered a priority. Many businesses use excel spreadsheets to track their regulatory obligations. And yet, with the potential cost of non-compliance, is that an adequate approach? As…
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