Risk and Compliance
These days managing the risks and compliance in your company is very important to the overall success of the business. If risks remain unmanaged and compliance isn’t ensured, it is highly likely to damage your ability to achieve the revenue, profitability and growth targets. Additionally, many regulatory bodies are now imposing significant punitive fines on companies that are not in compliance – for example GDPR non-compliance could be fined up to 4% of annual revenue.
IT is under attack from multiple angles; trojans, software exploits, phishing attacks, worms, and many others, have led to enterprises having to invest heavily in detection and counter measures products. However, the analysis of the output from these tools is slow and time consuming, leading to significant delays in capturing the issue and longer again in deploying counter measures.
The balance of risk and reward is the difficult line that business operations groups attempt to walk. Avoiding unnecessary risk, taking risks where the returns outweigh the potential downsides (assuming they have been approved correctly) and anticipating, and hence managing, risk to try to remove / mitigate some of the impact all have to be transparently aligned.
In today’s world, which demands increased regulation for workers, the background check has become a very important element of the process which ensures the right approved people arrive on-site in your organisation. Historically the process has been very slow, costly, not very transparent and often not at all effective. This can lead to significant compliance risks and potentially business risks.