Today there are many people who are still unaware of the benefits of regulatory compliance programs. Especially in some countries, where it is a new concept that little by little is integrated into the practices of small and medium-sized companies. We have seen growing concerns from CEOs and shareholders who want to discover the weak points of their organizations. For this reason, many law firms are promoting this type of legal advice to adapt risk prevention programs to the realities of each business. Some of them go further by implementing corporate compliance software, such as that provided by Nimonik inc.
Here are some of the reasons why it is necessary to apply a compliance program in your company.
1- Promotes ethics in the work environment
One of the main benefits of applying a compliance program is that employee loyalty can be strengthened. This is so because adopting these management systems through codes of conduct helps a lot to promote a healthy environment for employees. In this way, the ethical codes and the development of good practices framed in the law, make workers feel comfortable socializing and working in the company.
2- Detect and neutralize illegal conduct without affecting the reputation of the company
Another benefit of applying a compliance program in companies is that illegal behavior by employees can be detected early. This happens when special controls are evaded and inappropriate transactions or behaviors are evidenced. In many cases, things happen such as diversion of funds, increased costs, services, and money laundering, among others. For this reason, by periodically monitoring the daily activities of the company, the risks inherent in financial crimes can be prevented.
3- Promotes the exchange of information on the daily practices of the company
This set of legal and administrative tools is translated into manuals of procedures and good practices. In this sense, internal policies have a fundamental role in promoting the exchange of information within the company. There, the methodology must be adjusted to ensure that each business unit is in constant feedback between the other departments.
4- Helps to attract investment with foreign capital due to the seriousness and commitment of the company
By applying a corporate compliance program in your company, you may have the opportunity to attract all kinds of investments with foreign capital. Because companies that adapt their activities to regulatory compliance tend to have all their permits and documentation in order. So it is difficult for them to find themselves in unexpected legal conflicts, thus increasing the risk of losing the investment.
But which program to choose? There are lots of them!
We have tried to investigate the various corporate compliance programs or software on the market and we found that the one offered by Nimonik is the best. Why?
Nimonik is an EHSQ software development company based in Canada but with main branches in the United States, Europe and China. Nimonik’s EHSQ software was developed by a combination of experienced code writers and a team of legal, environmental, safety and quality professionals. The result is software that takes corporate compliance to the next level.
Nimonik lets you control your company’s corporate compliance through your mobile phone. Its corporate compliance software is capable of accessing no less than 2,000 free checklists. You can also create your own compliance template.
Nimonik database access is so wide. That includes regulatory documents that apply in more than 40 countries, 600 thousand documents to be exact and 2 million special obligations! As far as we have found, there is no corporate compliance program that is as comprehensive as this.
With Nimonik you can also add your own internal company obligations, for example business contracts and documents signed by stakeholders in your company.
With Nimonik you can identify every law, regulation, and standard related to your company’s activities. And not only that, the process of creating an audit trail for your company’s compliance can be realized very easily.