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IT managers already handle a large amount of responsibility and are not very likely to welcome more. Between coding, offering support, and ensuring systems are performing at their peak, you might need to evaluate how the business’s software can support the company’s corporate compliance.

Technology is becoming increasingly vital in all fields, including fields that are highly regulated. Healthcare, manufacturing, pharmaceuticals, finance, and energy industries need as much assistance as they can get from their IT team to ensure company compliance. If IT helps ensure compliance, companies are less likely to face fines and lawsuits.

Here is how technology can be used to support company compliance.

Use software to track policy implementation

Prior to company-wide technology implementation, a large portion of a compliance officer’s work included maintaining and keeping track of paper records. These paper records had employees’ signatures to confirm that they had received and understood the training and material that had been given to them.

This system resulted in many drawbacks, and it would be easy for compliance officers to accidentally skip over employees or lose essential documents.

IT can help streamline and simplify the compliance officer’s job by implementing software that can more easily track policy implementation. Allowing an electronic record of all employees and whether they have received and understood training material means it is all stored in one place.

This makes it is easy to track which employees have not received important information. These records can also be used to show that your company was proactive in implementing due diligence, which can save you from facing lawsuits and other fines in the future.

Adhere to industry regulations when implementing software

While most compliance officers focus on ways to stay compliant with labor laws, they often neglect industry-specific regulations. Just as Resourceful Compliance provides you with custom solutions with its team of compliance professionals, finding a software solution that is compliant with your industry’s requirements should be on top of your IT team’s agenda.

Your IT team may be able to adapt general software to match the regulations laid out by your industry, ensuring that your company is meeting regulations at all times.

Alternatively, if your company is finding it difficult to comply with regulations, enlist the IT team to create software for your industry. Not only will this make sure that your company is compliant, but you can also market this software to other companies in your field to help them in their compliance.

Finally, if these options are not viable, you can run an audit of your software and find out whether there are other solutions to help your company reach compliance. Doing this research can save the company time and money, especially in the long run.

Protect your data appropriately

Different industries have different regulations surrounding the protection of data and procedures. In the medical industry, for example, you are required to maintain medical records for a set number of years.

While these records are in storage, there are regulations regarding who may access them and when. If access to this data is not controlled appropriately, your company could face legal troubles.

Your IT team can set up and implement control systems to ensure that data is only accessible to the right parties at the right times. While this example specifically addresses the medical industry, you should be aware that data regulations apply across all kinds of industries.

More recent data breaches have occurred on social media platforms, which have resulted in complications for the companies, shareholders, and users. Protecting data means you protect your company and its clients. Appropriate data protection also ensures your business’s legal standing is maintained. 

Posted on Monday, April 27, 2020 1:37 PM | Back to top

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