Compliance management for any organization or business can be defined as the methodology that is designed to protect and enhance business value by adopting a regulatory risk-aware culture. Even today many companies assume that ensuring compliance requirements are met is as simple as performing a scheduled audit. This prospection is absolutely wrong, as compliance management addresses ongoing compliance requirements with the ability to improve business development.
Earlier this Compliance management was Reactive, where the benefits can be seen only when a process or any action is performed. Even the name tells that the achievements and benefits are measured only after the reactions, but this method will not be useful and fails in many cases while adopting a regulatory risk-aware culture.
To replace this existing Reactive compliance management, Predictive compliance management has been incorporated in Quality Management Process, Predictive Compliance will help businesses to identify, investigate, and communicate compliance within the organization resulting in a more effective and efficient Quality Management System.
Advantages of Predictive Compliance
- Helps to proactively evaluate and manage potential compliance issues before they are assessed.
- Allows to dramatically reduce costs of compliance and assists in allocating resources for safer, more efficient operations.
- Provides unique and effective approach to Automate compliance management
- Helps in predictive decision making, impacts compliance costs, resources and operations
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