Compliance, like the elephant in the room, has an interesting way of flipping the tables on conventional wisdom. It’s the damned if you do and damned if you don’t enigma businesses face every day.
The truth of compliance is that rarely does a business invest in becoming compliant because it is the right thing to do. In fact, many organizations try to close their eyes to the elephant in the room and unrealistically hope it will disappear. Don’t be fooled, the elephant continues to eat until it eventually breaks down the walls or crashes through the floor.
There is a concern that if you address the demands of compliance you will unearth a series of operating issues that have to be addressed with financial and human capital; that your business might lose creativity or even innovation due to the restrictions of compliance. Most business want to ignore compliance, and often do, until they can no longer afford to. That’s the damned if you do.
The damned if you don’t? That’s very simple – it costs you relationships, productivity, competitive edge, resources and revenue, and potentially your business.
So why are we here? Because most business are damned because they “don’t”. We have perfected how to get clients out of the compliance plight, whether you are being proactive or reactive.
“SO WHY ARE WE HERE?”
Your Customer or Partner has threatened a cut off or announced that they can no longer do business with you:
– “Comply or Die” letters are received
– PO, contracts or MSA are on hold
– Revenue claw backs are being discussed
– Vendor disqualification or qualification failure due to compliance issues are on the table
Your Customer or Partner has already cut off your business relationship:
– You have been disqualified as a vendor
– POs are canceled
– Revenue claw backs are in process
Your Business has responded to one or more security and compliance questionnaires/ surveys and it is past time to make the responses and representations “real” and supportable.
Your business has received notice of a Customer, Partner or Regulatory Audit.
Your business has a financial audit finding (management letter) pointing to compliance issues that need to be resolved.
If any of this resonates with your business, or you have realized that the compliance elephant is not going away, then BostonCOMPLY can help. We Fix the Problem.
We would love an opportunity to explain the entire BostonCOMPLY – Practical Compliance Automation™ offering and get you straightened away with a proper compliance program BEFORE the elephants start dancing.