Companies that operate in highly regulated and frequently audited environments are often challenged with managing an ever-growing mountain of compliance documentation.
The stakes are high for these companies to ensure they are managing their compliance-related information in accordance with mandates, due to crippling fines and liability issues that can result from non-compliance. However, many companies still maintain manual processes for routing, filing and organizing compliance-critical documentation. These error-prone and time-consuming practices present a major risk and can easily compromise a company’s ability to meet ISO 9001, PoPI Act and other regulations and standards.
Given the high priority for regulatory compliance and the amount of documentation required to prove compliance, it is no longer practical to manage the content separately from compliance efforts. If compliance management teams are asking themselves the following questions, chances are their organization is at significant risk for non-compliance due to inadequate content management practices and procedures:
- Where is the gatekeeper? Do compliance management processes slow or stop production when a key person is sick, on vacation or exiting the company?
- Has everyone read the latest compliance-related communication? Is it difficult to get the accurate status about compliance-related tasks, procedures and workflows?
- Are policies being followed and schedules being met? Who has visibility over the completion of the specified processes?
- Where are the required signatures? How easy is it to locate the documents that verify the approval processes?
- Have all of the audit issues been resolved? Are employees and managers barraged with repetitive reminder emails while the status of essential action items remain unclear to key stakeholders?
- Is compliance slowing down the business? Is the organization at a competitive disadvantage because it takes a long time to adjust to the latest regulatory compliance requirements?
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