Digital transformation can greatly benefit an organization through new products, sales channels and operating efficiencies, but benefits cannot be achieved without taking on risk. Digital transformation exacerbates compliance challenges because as organizations transform their businesses digitally, they may become subject to new laws and regulations, they introduce new and updated policies and procedures to ensure strategic objectives are achieved, and the scope and composition of customer and third-party contracts change.
These challenges are made more difficult for compliance teams because of the mountain of regulatory obligations, standards, and codes; the amount of time that must be spent analyzing and testing obligations; the costs to maintain compliance; and the lack of resources to do so.
Organizations cannot afford to continue to apply checkbox approaches to compliance. To efficiently and effectively address compliance challenges, compliance managers need to modernize their approach to compliance, employing digital transformation in the management of the organization’s compliance obligations.
Please join me and my colleague, Corey Carpenter, at our October 24 Webinar, as we explore today’s compliance challenges and how you can exploit digital tools and techniques to capture program efficiencies while demonstrating program effectiveness. Included in this discussion will be a presentation of the new RSA Archer Regulatory Content Analysis use case utilizing natural language processing!