Retail
Compliance Solutions for the Retail Industry
Benefit from an integrated, data-driven approach to managing corporate compliance, ethics, and third-party risk – trusted by leading retail companies worldwide. With less effort and more reach, you finally get a better way to do your essential work.
Trusted by the world’s leading retail companies
Why leading retail firms rely on GAN Integrity
GAN Integrity is how compliance teams at retail firms get the tools and expertise to stay ahead of risk. With less effort and more reach, you finally get a better way to do your good work. With less effort and more reach, you finally get a better way to do your good work.
See everything – Gain a comprehensive view of overall risk and compliance in one centralized platform for more effective program management.
Adapt to anything – Leverage dynamic workflows and integrations to stay ahead of regulatory changes and evolving program requirements, all without heavy lifting or expense.
Get all the help you need – Receive dedicated support from GAN Integrity’s team of experts.
Compliance challenges for the retail industry
As a compliance professional in the retail industry it can feel like you’re facing an unfair fight. You are tasked with navigating a maze of regulations from agencies like the FTC and FDA, and laws like GDPR. Key areas of focus include product safety, sustainability, and data privacy.
Retail organizations face unique compliance challenges, including ensuring product safety and quality, adhering to labor laws, managing a vast network of suppliers, and keeping up with consumer protection regulations. The emphasis on sustainability and ethical sourcing requires monitoring the environmental and social impact of your supply chain.
Building a strong ethical culture and acting with integrity is crucial. This involves implementing robust compliance policies and training programs, managing conflicts of interest and gift disclosures, ensuring third parties meet your ethical standards, and continuously monitoring changes in their risk profiles.
Key areas of compliance in retail
Retail companies are complex enterprises. There’s many areas of compliance, ethics, and risk that need to be managed, spanning everything from Environmental, Social and Governance (ESG), to Data Protection, to Anti-Bribery And Corruption (ABAC). These include:
- ABAC Compliance: Upholding anti-bribery and anti-corruption (ABAC) laws such as the Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act.
- Data Protection: Safeguarding customer and employee information and ensuring compliance with data privacy regulations including GDPR and CCPA.
- Supply Chain Transparency: Ensuring suppliers and partners comply with relevant laws and standards and maintaining visibility into the entire supply chain.
- Ethical Sourcing: Implementing ethical sourcing practices to meet consumer and regulatory expectations.
- Product Safety: Ensuring all products meet safety standards and are safe for consumer use.
- Sustainability: Adopting sustainable practices in sourcing, production, and distribution to comply with environmental regulations.
- Third-Party Risk Management: Ensuring that third parties, suppliers, and partners comply with relevant laws and standards.
- Financial Reporting: Maintaining accuracy and transparency in financial dealings.
- Conflict of Interest Management: Ensuring potential conflicts are disclosed and managed to uphold ethical standards.
- Training: Educating employees about compliance requirements and ethical conduct.
Steps to achieving compliance in the retail industry
Achieving compliance in any organization involves a series of strategic steps:
Compliance in the Retail Industry
Risk Assessment
Identify potential compliance risks specific to your retail operations.
Objective Setting
Define clear compliance goals that align with your operational objectives.
Documentation
Maintain thorough records of compliance efforts and decisions.
Training
Educate employees about compliance requirements tailored to the retail industry.
Monitoring and Auditing
Regularly review compliance status and adjust practices as needed.
Reporting System
Establish clear channels for reporting issues and disclosures.
Issue Response
Quickly address non-compliance issues to prevent disruptions.
Continuous Improvement
Regularly update compliance practices to stay ahead of regulatory changes.
GAN Integrity for Retail Companies
GAN Integrity helps technology companies navigate these challenges with a unified, easy-to-use compliance platform that organizes requirements, automates tasks, and provides powerful reporting, making it easier for you to do your good work. With GAN Integrity, compliance teams can see everything, adapt to anything, and get all the help they need.
Disclosure Management
Consolidate your disclosures for conflicts of interest, gifts, travel, entertainment, and political and charitable donations or contributions. Capabilities include:
- Policy management: Develop and enforce comprehensive disclosure policies. Educate and engage your workforce with targeted training and policy attestations.
- Flexible disclosure process: Simplify the submission of potential conflicts of interest with user-friendly forms, ensuring easy access for employees.
- Automated approvals and reviews: Enhance compliance with automated approval and review workflows. Quickly escalate notifications to relevant stakeholders to address potential risks.
Supply Chain Due Diligence
Enhance supply chain risk management by consolidating processes, identifying and mitigating risks, and integrating data from various risk intelligence and business systems. Capabilities include:
- Automated risk assessments and continuous monitoring: Monitor suppliers continuously for adverse media, sanctions lists, PEP lists, forced labor, and ESG (Environmental, Social, and Governance) issues.
- High-risk supplier identification and management: Identify high-risk suppliers, manage them effectively, and track actions and mitigations to ensure compliance.
- Integrated due diligence assessments: Perform thorough due diligence across your business operations and workflows for seamless integration and enhanced efficiency.
Third-Party Risk Management
Manage risks associated with third parties and assess these against relevant laws and organizational standards. Capabilities include:
- Lifecycle management: Automated workflows for onboarding, risk assessment, issue management, monitoring and off-boarding.
- Integrated due diligence: Initial and ongoing screening of third parties for sanctions, adverse media, forced labor, ESG and more.
- Reporting and analytics: Executive dashboards and reports: Consolidate third party data to identify risks and potential exposure to your organization.
Policy Management
Manage approvals, distribution, and attestation of policies, along with centralized portals for easy access to the latest policies and procedures. Capabilities include:
- Regulatory change management: Identify policies that require updates and timely distribution to employees in response to regulatory changes.
- Automated workflow: Optimize the review and approval process for policies, operating procedures, and work instructions with automated workflows.
- Comprehensive reporting and documentation: Maintain a full audit trail and generate detailed reports to provide clear evidence of compliance to stakeholders and regulators.
Reporting and Documentation
See everything across your compliance program, and generate reports and dashboards to demonstrate compliance program effectiveness to stakeholders and evidence to regulators. Capabilities include:
- Reporting and analytics: Executive, role-based dashboards to review the effectiveness of your compliance program initiatives.
- Evidence-based compliance: Maintain an auditable trail of all activity with the platform’s integrated and automated audit log.
- Compliance insights: See risk trends and patterns within your program, including third-party and supply chain risk, policies and disclosures.