State of Compliance Survey 2020 – Compliance in the Times of COVID

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Nimonik recently completed a State of Compliance survey with 85 professionals from around the world, a number of interesting findings can be found in the survey responses. The majority of survey respondents have a compliance system. This short survey did not determine the extent or the quality of these systems, so I would suggest we take the feedback received with a grain of salt. Most of the companies we work with still have a superficial and highly silo-ed compliance system that tends to focus on a few issues, but does not address the entire business. That being said, we were quite happy to see that the survey participants have systems in place.

The survey consensus was well summarized by one person, “Compliance should be part of every organization to meet all standards and customer requirements!”

One respondent said, “I believe compliance is more important to ensure resuming “normal” business operations will require stability consistent approaches. Managements often deal with compliance in a reactive modes. Business needs to get away from the fire fighting approach to manage compliance issues.”. We could not agree more!

 

Interestingly, most respondents say that COVID does not change their perception of compliance. In a certain sense, this survey was preaching to the choir as the respondents were already working in the compliance space and understand the business value of a robust approach to compliance. As for COVID and how compliance matters more than ever, one respondent stated, “If you can’t or don’t protect your workers, the good ones will leave and the ones who stay make Compliance that much harder to ensure.

Interestingly most participants in the survey are happy with their current solution. About 40 % are barely satisfied or unhappy. It would have been interesting to gather data from other people who have to work within the system. In all likelihood, many of our respondents were the architects or decision makers for the systems they have – and should therefore be pretty happy with them! If you ask other people at your organization if they like the system you have, you may get a different response! One person said something fairly similar, “Compliance is not seen the same way by the many levels or departments in the organization. Makes it difficult to stay on top and to ensure everyone is complying at all times.

Most compliance programs identified during the survey are still in Pen, Paper, Word and Excel – this is quite scary! With hundreds of regulations and standards changing every year time, it is extremely hard to manage a system that is not well organized. Today, with limited onsite activities and social distancing it is more important than ever to transition to a robust, centralized and mobile friendly solution (P.S. Nimonik can help). A participant explained, “Having a dedicated conformance software system and document control system makes remote assessments for compliance much easier!

Most respondents also felt that their system offered good value to the business and that the business perceived it as an investment. One person clearly explained, “An organization can only be sustainable if it meets compliance.In conclusion, this small sample of professionals shared the conclusion that compliance has always been important and remains critical to the proper functioning of a business. Transitioning from pen, paper, word and excel should be a well thought out process. You can avoid costly errors if you plan properly and identify the stakeholders, outcomes and goals of your compliance program. Getting things right from the start is much less expensive than fixing errors after the fact.


Contact Nimonik at info@nimonik.com to discuss how we can help you improve your compliance system today!