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Operational excellence for better compliance

Tom Fox | May 5, 2018

One thing that must be continuously emphasized is that compliance is a business process—and as a business process, the greater the operational excellence, the more efficient a company is and, at the end of the day, the more profitable. It is this execution of the business process, not the implementation of a paper, check-the-box exercise, that is critical to performance. 

Borrowing from the world of worker safety, there are three key steps for compliance operational excellence. The first is that one must recognize that doing business in compliance evidences more efficient business structure and process in an organization. Compliance internal controls are largely financial internal controls, which means that the more efficiently your internal controls function runs, the more efficiently your company will run. 

The second is that the strength of the company’s products and services can be used to emphasize operational excellence in compliance. Companies that are required...

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