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February 24, 2022
At the end of an exhausting day, we would all like to sleep over our problems and stress. The pertinent question is- will all this stress and fatigue just vanish into thin air just by sleeping over it? Temporarily, yes for individuals!
Let’s look at it from the context of enterprises. The business ecosystem is constantly evolving and becoming even more complex. In midst of all the painstaking efforts to remain profitable, sustainable, efficient, and compliant- the entire process of compliance audit can throw every employee, every department off its balance.
Imagine getting the additional responsibility to furnish invoices for an entire month, followed by tons of paperwork and scrutiny of the tiniest of details just to prove that an enterprise has adhered to all relevant regulatory compliances. What then follows is known as audit fatigue leading to this weariness and anxiety.
Enterprises are well aware of the fact that bypassing any of the regulatory guidelines can cost them dearly. The business entities also reckon with the fact that compliance audits need to happen every year, but the question is – are they okay to go through this excruciating process in the same fashion every year?
‘No’ would be the most obvious answer. So, before we set out to find how to really eliminate this fatigue, let’s first understand what causes this audit fatigue.
One of the only and proven ways to eliminate this ‘Audit Fatigue’ is by embracing technology and enabling enterprises to focus on creating an “Audit Ready” work culture. Technological intervention can massively transform the way compliance becomes the ‘way of work’, thereby bringing about a successful conjunction between the compliance objectives of an enterprise and the auditors.
Advantages of Leveraging Technology
By leveraging technology, enterprises can experience the
From the above discussion, it is evident that enterprises really need to transform this ‘Audit Fatigue’ into this constant state of being “Audit Ready”. This can only be orchestrated by leveraging a robust and intuitive technology solution that not only automates adherence to the regulatory compliance processes but also transforms the way people perceive compliance and audit.
In this highly challenging compliance landscape, Quant LegalTech stands out with its flagship offering Complius that stands tall as a compliance compass directing the enterprises in doing things in the “Right Direction”.
Chief Technology Officer,