Compliance with regulations is important for the sustainability of an organization or company. It includes matters such as verification of controls, detailed record keeping, and provision of evidence. Ensuring compliance in a modern organization or company is difficult to do manually. Automation is a necessity and slowing down processes means increasing costs which can often be exponential.
Hiring a dedicated consultant can be very helpful but as long as the person doesn’t have access to automation tools then it won’t help much. That’s why regulatory software is the best solution, at least until the time of this writing. There are many of them, one of which is regulatory software and content produced by a well-known compliance software development company, Nimonik Inc.
But what is regulatory software?
Regulatory software is a term that is widely used for regulatory compliance software. Yes, the “full version” is “regulatory compliance software.” This software is designed to manage compliance with various regulations, standards, and laws that apply in the area where an organization or company operates. Violation of one or several items may result in serious consequences, such as termination of company operations, lawsuits, and even loss of life.
In short, regulatory software is software that ensures compliance. And when we move in a broader direction, that means compliance with external as well as internal obligations. For information, compliance with internal obligations usually refers to compliance with signed contracts and standards set by the company itself.
Change can take place faster than imagined
Yes, regulation can happen more quickly than we think, especially when we are talking about entities under strict regulation such as financial institutions. A decade ago, it was sufficient to rely on internal and external legal teams to ensure compliance with internal and external obligations. Today, it’s not enough because in one year there can be changes in many aspects. It is impossible if a group of people can handle hundreds of changes, each of which can be described in detail.
But what about regulatory software?
This is the next question. What kind of regulatory software? Which how? Created by whom?
There are many technology companies that create regulatory software but not all of them produce quality products. This is related to the resources and experience possessed by these companies. We have considerable experience in the “regulatory software world” and have come to the conclusion that Nimonik Inc. is one of the best regulatory software providers. This is a compliance software development company based in Montreal but with offices in Shanghai and Calgary. With dozens of compliance experts it employs, Nimonik Inc. is one of the most respected developers of compliance software today.
Why Nimonic?
Nimonik provides regulatory software with integrated audit features. That means the software can ensure that all compliance is truly measurable. In other words, no abstract estimate can mislead. All the requirements for EHS/ESG compliance are streamlined into a collection that is easy for anyone to understand.
All requirements such as ISO 14001, 45001, 9001, and IATF have been accommodated by Nimonik’s regulatory software, proving that it is compatible with commonly used standards. Basically, most of the regulatory content that applies in modern industries in various countries has been accommodated by the software.
If your organization or company employs a large number of workers, for example between 500 and 25 thousand employees, compliance automation is mandatory and any manual approach makes no sense. And when we choose to move towards automating integrated internal and external liability compliance, Nimonik’s regulatory software is one of the best options one can find.
