There I was last week, talking with my friend the Vendor, as he sat across a conference room table from me smartly describing his software’s approach to regulatory compliance. And actually, his idea was pretty smart.

Start with the obvious, he said. Highly regulated industriesโ€”mostly finance, pharmaceuticals, healthcare, and energyโ€”have exhaustive compliance demands. Regulators have crawled all over their operations for years, creating ever-longer checklists and tests and exams that a company must pass if it hopes to stay in business.