While companies can strive to be legally compliant in all operational matters, the actual administration of the task requires practitioners to be kept up-to-date, which can prove challenging without the right kind of help.
Each business has its own set of compliance requirements to adhere to based on industry and service offerings, and failing to comply can mean serious repercussions for the company.
To ensure compliance, companies must be kept alert when legislation has changed to avoid referring to outdated legislation - and there are tools available to do the groundwork of on-going monitoring.
One should invest in software that covers the following:
Investing in software that is too complicated for a business to implement can prove ineffective and worse, costly. To avoid these pitfalls, solutions need to be user-friendly, efficient and should include system support.
Solutions need to take the burden out of knowing the law with a flexible set of software modules that can be used as standalone tools or as an integrated system which effectively manages all aspects of the organisation's compliance needs. Configurability allows the clients to tailor the system according to their specific needs.
Businesses should invest in solutions that put them in a position to assess their risks and conduct internal audits, with results that drive mitigation and actions for continuous improvement.
Every incident has a business impact. Apart from the human suffering and morale issues they also cost time and money. Solutions must help a company track down the root cause of an incident and make fast, focused interventions that result in substantial decreases in similar occurrences.
An intelligent compliance management tool should make it possible to have all the company's vital information in one place and easily accessible.
In short, businesses serious about legal compliance need tools that not only tell them the risks of not being compliant, but also provide step-by-step information on how they can rectify matters.
A solution like LegalEasy 2.0, an online web-based compliance system, includes all South African acts and by-laws purchased by the client in a Legal Register that maps the legislation per business unit or function, and is automatically updated as soon as new legislation is passed. Users can include other documents such as ISO standards, and potentially other African and international legislation as required. It also comes with plain language interpretations and standard audit questionnaires or checklists.
