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Survey Report: Compliance tech priorities in 2023
Nearly two-thirds of senior compliance executives anticipate third parties to be the most heightened area of risk to their businesses in 2023, according to the results of a new study.
Compliance Week and FTI Consulting polled 151 legal and compliance decision-makers as part of an online survey benchmarking the use of technology in compliance conducted between February and March. Asked to choose all that applied from a list of top-of-mind risk areas they expected to require additional focus this year, 62 percent of respondents selected third-party risk management (TPRM), far ahead of litigation/regulatory exposure; anti-bribery, anti-corruption, anti-money laundering, and fraud; and environmental, social, and governance matters.
In this report, you will learn:
- Reasoning why TPRM is such a popular risk area and how to address it
- The impact of the difference between mature and immature implementation of compliance technology
- Best practices from six senior compliance practitioners regarding use of compliance tech
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