The Third of the Five C’s of Compliance: Consulting

Communication are the first two of the five C’s of Compliance. As I was awaiting the results of a general checkup at the doctor’s office the other day, an interesting, yet unsettling thought occurred to me. This man, my doctor, is as much of a stranger to me as the guy I bought coffee from this morning. I have met them both only one time, and yet I am willing to give the doctor all of the power in the world to improve or destroy my health. Here’s my life, sir. Please handle it with care. If he told me I had “Luminarititis” (a made-up disease) which requires ten pills a day of expensive medication, I probably would not second guess him. Not only would I not be improving my health by following his expert advice, but I would also be spending extra money on medication I do not need. Talk about a lose-lose situation.

This same concept of inadequate or incorrect advice can play a major role in managing regulatory compliance. There are “experts” in all industries who help companies understand regulations and procedures that need to be taken to comply. The idea of reaching out for expert advice is all well and good, as long as you are paying for quality advice that will actually aide you in your journey to compliance and audit readiness. If you reach out to the wrong expert who gives you bad advice, you are leaving your company vulnerable to all types of compliance diseases.

PREDICT360 has already gained some great expert connections in multiple industries and is continuing to expand the network of quality consultants. To ensure that we add only strong candidates to our team, there are strict requirements. For example, a minimum of ten years of experience is a must, and he/she needs to be recognized in the field; a top tier expert and is active in the industry. It is important to 360factors, Inc. to offer the highest quality of services to the clients, and this includes the shared best practices. The name of the game is compliance, and you need the right tools to build a strong immunity to regulatory fines and penalties.