Deal with compliance complexity
The global avalanche of legislative regulations is stretching government affairs teams to the limit. All over the world, teams waste valuable time keeping emails sorted and Excel spreadsheets up to date in an ongoing struggle with compliance complexity that only a sophisticated relational database can cope with. These teams need a single Compliance Knowledge Management (CKM) system that can guide them through the details and the implications of new compliance developments as soon as they arise.
Manage the details
Ambiguous definitions, undefined terms, the inexact scope of exemptions, and the vague duration of exemptions are just a few of the compliance management areas that government affairs needs to handle carefully and with discrete commentary. At the same time, government affairs need to clearly distinguish and focus on problems within the text details of documents, rather than on big picture concerns such as dates, key scopes, and the like.
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Process more information collaboratively
Government affairs teams are also processing much more information, yet they cannot afford to hire inexperienced staff just to fill this gap. Their only cost-effective solution is to find a technology that can reliably accommodate all the twists and turns of a complete compliance lifecycle. At the same time, it is no longer enough for business units to work sequentially and rely on—as well as wait for—government affairs to provide them with a summary analysis. All teams have to learn about developments at the same time and be able to collaborate in real time with a purpose-built Compliance Knowledge Management (CKM) tool.
Ensure data storage, handover, and links
Government affairs teams need to know that regulatory affairs stakeholder contact information is stored in the right place for quick access and easy handover in the future. They also need a software tool that intelligently links ongoing issues, tasks, comments and attachments to the data in question.
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C2P: government affairs 