Why regulatory compliance remains important?
Regulatory compliance is one of the top business drivers and a cause for concern for most enterprises today. With data reporting, security and privacy gaining importance, companies world-over are under increasingly complex requirements for regulatory compliance. The intent of these multiple regulations and industry standards is to ensure the security, availability and integrity of business information. Companies that don’t comply with these regulations risk legal action as well as fines and restrictions.
Organizations are therefore turning to IT to establish and sustain compliance with changing regulations, reduce the cost of being compliant and minimize the risk of non-compliance. Here are some examples of how our clients have benefitted from leveraging IT to comply with regulatory requirements cost-effectively:
WorkSafe Victoria improves claims efficiency and compliance with corporate and state-specific regulations.
Swiss Federal Customs Administration provides a good overview of the rules in all stages of development, contributing to quality assurance.
New York State Department of Tax and Finance saves $889 million by optimizing audit case selection.
Latin America Tax Agency increases tax collection and reduces costs with IBM Operational Decision Management (ODM)
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