Importance of Regulatory Change Management Program

With thousands of regulations around the world constantly being added or modified, it is critical to understand what is applicable to each company. The compliance footprint varies with the type of industry, the nature of the company, and its business imperatives. Every company has a responsibility to identify existing and emerging regulations relevant to its business and ensure that risks that may arise from the compliance directives are well understood by the board and management.

The reputational ‘hit’ at the board level for lacking a good regulatory change management program and corporate governance program can have a dramatic impact on public perception, negatively affecting the business. Additionally, the ongoing risk exists until the company is able to implement measures or controls that effectively mitigate the new risks arising out of compliance requirements for the new regulations.

In order to survive and thrive in today’s complex world, an effective Regulatory Change Management program has become a necessity.

Predict360’s Regulatory Change Management Software is built on artificial intelligence (AI) technology, which centralizes regulatory library with consistent taxonomy and automates the translation of the regulations as well as create an applicability of regulations process as to which regulations apply to which location, branch or even an asset.

About the Company

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

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