Calculating the ROI of compliance has long been an elusive topic of discussion. How do you quantify the value of a violation not occurring? Or worse, how do you calculate the impact an investigation or fine has on a company’s reputation and bottom line? It’s fundamentally complex in nature to calculate the value of the preventive role compliance has.
However, if you isolate compliance automation, the conversation begins to get a little less muddy. Understanding the ROI of compliance automation, rather than the entire compliance program, allows you to see the impact that technology can have from a financial standpoint and a productivity standpoint.
To address this topic, we called upon none other than Matt Kelly. In the off-chance you are not familiar with Matt Kelly, he is the editor and CEO of RadicalCompliance.com and was previously associated with Compliance Week but, most of all, he is a forward-thinking voice in the compliance industry. In hopes of getting one step closer to calculating the ROI of compliance, Kelly authored our latest eBook: How to Measure the ROI of Compliance Automation.
Quantifying the ROI of Automation
Most compliance officers crave technology to automate processes, provide a single point of record, and ease the burden of reporting. However, justifying the costs of these systems and securing budget is often a major hurdle. CCOs first need to be able to easily prove the value of compliance solutions.
Whether you currently use technology to automate certain compliance processes or are considering investing in technology for the first time, read the eBook to provide you with a helpful guide to rationalizing spend.
Calculate Your ROI on Automation
- How much you are spending on manual compliance labor
- The dollar savings from automating certain functions
- The change in productivity (time saved) your company could experience with the right technology in place
Not only does the eBook review the benefits of automation but it is also complete with a helpful worksheet that you can easily customize to your organization.