There are different options available to you when choosing regulatory compliance software. Know how to analyze them!
When it comes to regulatory compliance, the regulations are complex and constantly evolving. Companies often face many difficulties in complying. They have to process large amounts of data and documents, which are distributed across different departments, making the compliance process time-consuming and error-prone.
Some structures choose to develop “in-house tools”, either to maintain control over the entire regulatory compliance process or because they cannot find suitable software on the market. Therefore, they rely on their internal developers (list design, process traceability, action history, etc.). However, internal solutions often “collide and deadlock” when dealing with external factors, in this case, various regulations, standards, and laws. That is why these “internal tools” are good for complying with internal obligations but very poor for external obligations.
Not all companies have sufficient resources to develop “internal tools.” In many cases, external developers are the only option, especially given the complexity of regulations, standards, and laws that affect the running of a company. We haven’t even mentioned the updates which, if counted globally, can run into thousands across the entire spectrum of industries.
Compliance software is what every modern company should have, especially those with a “sizable” number of employees. Professional compliance software can prevent a client company from making the mistake of ignoring one or more regulations, standards, and laws. Automation is a “must” given the hundreds or even thousands of regulations, standards, and laws to comply with. And of course with all the updates.
Compliance software solutions can vary, depending on the diversity of the situation at hand. Every company is unique and even those working in the same business niche may face different “compliance situations”. Whatever compliance software solutions should be chosen, ensuring that they come from a trusted developer like Nimonik inc. is highly recommended.
What is Nimonik?
Nimonik Inc. is a developer of automated compliance solutions based in Montreal, Canada. It is an ever-growing company and has recently acquired Calgary-based Media Logic Inc. The acquisition is a very clear signal that Nimonik will expand its dominance in Canada, and North America in general. However, Nimonik’s expansion does not stop in North America since it also plans to conquer the Asian market with its representative office in Shanghai.
As a developer of automated compliance solutions, Nimonik ensures that its products truly reach its target market, which is the ability for companies in different industry areas to comply with all obligations related to regulations, standards, and laws that can number in the thousands.
Nimonik’s compliance software is “housed” by a super comprehensive database covering thousands of regulations, standards, and laws. As such, it is unlikely that a client company will miss out on what it needs to comply with by not having access to them.
Not only is the database super comprehensive, but Nimonik compliance software also comes with audit management features that ensure every regulation, standard, and law is properly followed. These audit management features can simplify the task of any compliance audit team, no matter how experienced they are. Nimonik has now successfully proven that its products are the backbone of many modern businesses. Its compliance audit management system enables several functions to be performed well; monitoring, reporting, as well as a comprehensive understanding of the compliance status.
And its integration with various internal systems is the “last straw” for other similar software. Nimonik compliance software can be easily integrated with a wide variety of internal company software to make it easier for every business to adapt to its use.