Embracing technology to help manage risk, reduce administrative burdens, and improve efficiencies is a strategy that’s been developing in the compliance space for a while, but the coronavirus pandemic has fast-tracked the urgency behind it. A pair of recent reports explores this trend in more detail, as well as the compliance risks and opportunities created as a result.
“The COVID-19 pandemic has certainly accelerated the trend of digital adoption in the compliance space,” says Joanna Ludlam, a partner at Baker McKenzie. This finding was confirmed by 47 percent of more than 1,500 compliance leaders surveyed around the world in the law firm’s 2020 “Currency of Connection” report.
