Carry out your policy management with otris compliance: Establish company-wide guidelines and regulations, documented in a traceable way in a central regulatory framework. A complete representation of all GRC measures and processes means that risks and irregularities are detected more quickly and ensures conformity with the regulations. otris compliance can be quickly and easily adapted to meet your company’s requirements.
On the one hand, compliance stands for the observation of laws and prevents slush funds, corruption or exploitation. On the other hand, compliance focuses on fulfilling the ethical standards and requirements set by a company, which can go far beyond the scope of statutory regulations. Examples of these standards can include forms of cooperation with business partners, the behaviour of employees towards one another or sustainability-oriented production. When it comes to compliance violations, the amount of the fines can assume gigantic proportions and threaten the existence of entire companies. However, it’s not just the company itself but also corporate bodies, managers and employees who are at risk of exposing themselves to penalties and having to pay damages.
With otris compliance, all the relevant GRC information, reports and documents are classified by topic, assigned the necessary authorisation rights and continuously monitored for timeliness and completeness. Regular reports, clearly structured lists and interactive charts support both the management and the operational units in assuming their corporate governance and compliance responsibilities. Using an easily configurable structure, company-specific compliance issues such as data protection, occupational safety, crisis management or fire protection can be represented and monitored efficiently. otris compliance can be quickly and easily adapted to meet your company’s requirements and processes.
Conformity with regulations
Using an easily configurable structure, your company-specific compliance issues such as data protection, occupational safety, crisis management or fire protection can be represented and monitored efficiently.
All the relevant GRC information, reports and documents are classified by topic, assigned the necessary authorisation rights and continuously monitored for timeliness and completeness.
Compliance with an overview
A glance at the integrated dashboard will show you if laws and regulations regarding your corporate governance and compliance are being observed.
An essential objective within corporate management is to ensure the existing corporate governance is sustained and documented. Special software solutions such as otris compliance can assist in implementing these objectives. The basis within otris compliance forms a company-specific catalogue of corporate governance topics that is tailored to meet your company’s needs. The allocation and storage of all information related to corporate governance – in the form of documents or reports, for example – is carried out using the compiled tree diagram that is classified by topic.
The categorisation can be based on different prioritisations:
All compliance tasks are also classified by topic and are depicted in a company-specific catalogue of topics. For every compliance-related topic, the following can be specified and tracked:
Topic-related reports will give you a reliable and sustainable compliance management system that will ensure even more transparency in your company-wide compliance organisation. otris compliance will support both the compliance officer in their operational work as well as management for the ongoing monitoring and holistic approach of your implemented compliance management system.
The authorisation system enables you to provide all public compliance information in a clearly structured way. Moreover, our compliance management software guarantees the necessary access protection for confidential, compliance-related or personal information. By allocating validity periods or a reporting date, you can take the following into account at any time: current and historical observations relating to the compliance organisation, the respective responsibilities and the required documentation. Furthermore, existing corporate governance, including that from the past, can be displayed and verified with the corresponding documents and reports.
The ISO 19600 standard is designed to make companies aware of potential risks, while providing tools that can help to build an effective compliance management system. The ISO 19600 standard redefines the term compliance and encompasses the complete fulfilment of all the compliance requirements of a company (including all statutory obligations and voluntary commitments). Risk assessment lies at the heart of the new standard. The aim is to determine compliance risks and establish the appropriate countermeasures. In addition, the ISO 19600 standard addresses how effective individual compliance measures are with ongoing process improvement and the responsibility of management, employees and the compliance officer.
All information from your company-wide GRC processes is collected in our compliance management system and made centrally available to the decision-makers in your company in a clearly structured way.
Due to the number of specific regulations involved, large corporations are required by law to have a comprehensive monitoring and reporting system in place. This is rarely the case for SMEs. The question of whether and at what point a company can benefit from compliance software is impossible to address with a general answer based on individual indicators such as staff turnover or the number of compliance violations in a given period. The issue is simply too complicated and the conditions and requirements of each company and its respective industry are too unique. As an example, the laws and regulations by which a company and its employees need to abide are not necessarily based on its size. Likewise, the specific regulations within different industries and market legislations also play a decisive role. In addition, there are questions concerning issues such as:
In general: Regardless of a company’s field of activity, the need for action arises if compliance costs are already unnecessarily high, are steadily on the increase or concerns about compliance with laws and self-imposed rules prevent the actual core business from being carried out.
Five tips for handling compliance software
Compliance isn’t only important for corporations. Especially for SMEs, penalties arising from compliance violations can quickly mean financial ruin. As a result, the following applies: Trust is good but compliance software is better. Act responsibly and pro-actively, and not after compliance issues arise or already have legal consequences. Penalties and the analysis of compliance violations nearly always cost companies far more than it does to implement an effective compliance system. This means that the initial investment will almost always pay for itself in the medium term. Compliance software not only reduces the risk of liability for companies, it also ensures transparency and creates trust among employees, customers and business partners.
When choosing an appropriate compliance software, do not limit yourself to a purely functional comparison. The provider behind the technology is at least as important as the software: