Does everybody in your company get the regulatory information he or she needs?
Even if you are about to answer this question with “yes”, let’s just quickly look at few more questions first:
- Do all different stakeholders receive only the regulatory information and news, they need? Or are they daily drowning in an information overload?
- If everybody gets only the information which is relevant and complete, how much effort you have to exert in order to obtain such information and at which price?
- Are the stakeholders provided with the required high-quality regulatory information immediately, in real-time?
- How do different stakeholders share information and insights and manage them?
- And most importantly, what happens next? How do they further process the important information?
The point is that it’s not only about getting regulatory information, it’s much more about the regulatory information quality, real-time availability, user-focus and structure.
These are the properties driving your spendings and your compliance risks.
New insights? Not, really. Still a big challenge? Yes, definitely! Can we help? For sure!
The RegHub Regulatory Change Management and Compliance approach tackles all aspects of Regulatory Change & Compliance, starting with the efficient and effective inflow of regulatory information.
The Regulatory Outlook
To achieve this goal, we have automated the real-time scanning of the regulatory universe based on your company profile in the RegHub platform. More precisely, RegHub is connected with hundreds of regulatory information sources worldwide (further sources can be easily added), automatically filtering regulatory information and news which are important for your business. Furthermore, any user is able to easily add additional personal filters and attributes to further narrow the area of his interest.
Now, viewed from the company perspective, all the relevant regulatory information is in a golden source and everybody has the purposeful information inflow for his scope of work. Great, but what’s next?
Let’s assume you received a notification in RegHub, that the EU supervisory authority had just published a statement impacting the business area you are responsible for. In this case, usually, your first step would be to dig deeper, so as to better understand the requirements and impacts. Maybe you would also appoint someone in your team to do more research, or you would just connect with other colleagues who possess the relevant know-how. Perhaps you would ask yourself as well which past publications are related to this particular regulatory novelty, hoping that previous implementations of similar nature might help you better understand the newly published obligation or measures.
The good news is RegHub allows you to do all this easily. Even better, RegHub performs automatically some of those activities for you!
You can find more information on “HOW” here.
Speaking of regulatory information inflow and of staying up to date, let us also introduce our free of charge “Regulatory Recap” Newsletter.
The Regulatory Recap
The Regulatory Recap delivers the TOP 5 Must-Read regulatory articles each and every week! We track down the most interesting publications in the context of regulation & compliance for you.
The Regulatory Recap also includes a simple daily regulatory news monitor, pulling the live-data (news) from the RegHub platform and presenting them in a dynamic daily report.
Of course, the information there cannot be compared with the complexity of the depth of the RegHub platform, but the daily regulatory news monitor is a very helpful tool for keeping an eye on regulatory novelties on a daily basis and getting an indication of potential impacts on your company and business.
Interested? Just subscribe to our Regulatory Recap!