Importance of Effective Ethics and Compliance Program

In today’s world, the explosion of social media, new mobile technologies and big data has brought about a new era of transparency, exposing illegal transactions and raising new ethical questions in the way business is conducted. In order to survive and thrive, ethics and compliance executives need to develop sophisticated measures for preventing, detecting and mitigating risks.

Ethics and compliance problems result in increasing regulatory fines and legal costs and can entail significant reputational risks if the public begins to question a company’s ethics. These risks can be costly for organizations as information and misinformation travel through social media in an unprecedented rate. Additionally, these costs can be amplified as companies navigate tough economic conditions and emerging unfamiliar markets.

A strong ethics and compliance program, built on an organization’s values and principles, creates a culture that is focused on outstanding quality and business outcomes. It not only protects from internal and external threats, but also enhances the brand.

Also, new studies, surveys and empirical evidence reveal that companies demonstrating reputable ethical business practices and good governance have higher stock prices, lower costs and more satisfied employees.

Predict360’s Risk and Compliance Management Software uses cognitive technology and analytics to make ethics and compliance risk initiatives more effective and efficient through a simple yet comprehensive model and methodology.

About the Company

360factors, Inc. helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures, risks and controls, audit and inspections, safety management systems and on-line training and qualifications, in a single cloud-based platform.

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