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increase requirements for compliance management continue

IT-based automation of compliance management - BearingPoint

IT-based automation of compliance management

According to a study by the consulting firm BearingPoint companies will increasingly invest in their compliance management. Sun 65 percent of respondents expect 2015 to "increase" or even "soaring" costs to adapt their compliance management accordingly. Investment is particularly needed in the areas of marketing, sales / customer, risk management, treasury and IT. For the majority of the respondents compliance management has become an integral part of their corporate strategy. 59 percent have already established a separate compliance department.

Great catching up to see The respondents were in IT-based automation of compliance management. For review of fixed rules still perform manual checks by 58 percent without systemic support. 19 respondents provide compliance guidelines are still in paper form, in only 27 percent of companies surveyed are stored electronically in one centralized location, and only 54 percent combine the two variants in the context of their compliance management. After all, already 67 percent of companies have introduced the one and three years an appropriate IT system, 30 percent plan to the development or implementation of such systems.

"The increasing volume of new regulations makes It requires policies and procedures more frequently and more quickly adapt. This forces the companies continue to lay even more attention on the issue of compliance and processes more efficient and transparent, "says Dieter Stein Hueser, Senior Manager at BearingPoint and author of the study. "IT-based automation is essential. Who operates compliance management only as an isolated solution structure and without risking security breaches in the long term, significant additional costs, brand damage and, ultimately, his competitiveness, "added Oliver Engelbrecht, director at BearingPoint.