With the rise in incidents of frauds, corruption, legal compliance violations resulting in increased liabilities and penalties for organizations combined with recent political developments and a fast-changing/evolving Regulatory landscape; an effective Enterprise-wide Compliance Program is not just an option, but a necessity.
Today, businesses need to have a strong Regulatory understanding to operate or expand globally; this needs an investment of thousands of hours to research, collate, track global Regulatory knowledge & Changes; else increase the risks of non-compliance.
With our vast coverage, we decided to implement the Regulatory Compliance Management Solution offered by Lawrbit Global Compliance Network (www.lawrbit.com). The implementation started with a detailed understanding of our business, cutting across service lines, functions and locations; followed by a compilation of all applicable laws and compliance, defining ownership matrix and training users on expectations and system usage.
The Compliance team now receives notifications on upcoming compliance and updates on every Regulatory change on a Real-time basis; thus reducing risks of compliance misses.
Our RegTech Partner - Lawrbit Global Compliance Network
Lawrbit offers SaaS-based Risk-based Global Compliance Management Solutions ("GCMS") to help the Board of Directors, Risk Officers effectively implement and monitor the Corporate Governance framework.
GCMS integrates internal workflows with Regulatory Intelligence for 70+ countries covering 1000+ regulatory bodies and 5000+ laws globally, across Americas, Europe, Africa, Middle East, Asia Pacific & Oceania. The Regulatory Intelligence is created, managed, and updated by 100+ Law firm partners globally supported by Lawrbit's internal team of Lawyers and CPAs.