Why include compliance from the start?
Turn compliance into a source of competitive advantage, by including it in business processes from the beginning.
This modern approach provides a heap of benefits, here’s a few examples:
Development is streamlined
Companies that wait until design and development are completed before requesting compliance support and sign off are simply slowing down project completion. Early compliance input helps organisations avoid unnecessary rework and speeds up final approvals down to a few days, instead of weeks.
Compliance concerns are addressed early on
Early involvement also enables compliance professionals to identify and offer suggestions to address any issues that could impede Customer Communications Management (CCM) compliance approval later on. This way, the design and development team are able to make adjustments and changes for compliance purposes before a communications package gets too far along in the process.
Compliance becomes collaborative and holistic
Getting compliance involved in design and development provides a unique opportunity for the function to become an enterprise-wide collaborative process.
Furthermore, if compliance has a holistic view of all communications, it greatly reduces the risk of ‘errors of omission’; where compliance professionals miss issues as they do not have full visibility in to customer correspondence, only to miscellaneous items which have been submitted individually.
Creating competitive advantage
With customer experience being a source of competitive advantage for companies, a more streamlined and responsive customer communications compliance process is of critical importance. By maximising compliance flexibility, design and development teams will find it easier to innovate within existing compliance frameworks. Instead of railing against the barrier of compliance, organisations have the ability to integrate compliance requirements by building them into the design of communications materials from the beginning. This enables companies to bring new products to market far more quickly than they otherwise could.
Ultimately, as customer experience becomes the pivotal differentiating factor between competitive organisations, compliance must help and not hinder innovation. This requires a new approach; one that combines compliance and innovation from the very beginning. With the help of the appropriate CCM solutions such as GMC’s Inspire, organisations are able to transform compliance into a driver of business value.
Financial Relationship Management - Are you across it yet?
Customer Relationship Management has perhaps been the most significant area of investment for businesses across the world over the past 10 years. As the channels of communication broaden and the effects of digitisation widen, businesses are presented with more media than ever before that they...
How to Keep Your Operating Costs Down
Managing operating costs is an integral aspect of running a business. The higher they are, the smaller the margin on each generated sale. This limits the amount of cash available to invest in business-growing activities. While some outgoings such as overheads will be fixed and...