As we could see in our previous reading, compliance has to do with procedures to avoid non-compliance, irregularities and infractions within organizations and implies complying with legal and regulatory requirements, in order to have a responsible company.
The application of compliance in companies goes hand in hand with transparency in operations and good practices, in order to avoid risks, corruption, money laundering, data leaks or the existence of mechanisms that promote corruption.
Benefit in double day.
Today we will learn about some of the benefits of compliance in our company, as this is our letter of introduction in the business world, and therefore, it must be flawless. The main objective is to avoid criminal, tax, operational or labor sanctions, depending on the economic branch in which our company operates, and it must be understood that the benefits will be for us as a company, as well as for our clients.
For our company
- Reduction of the company’s legal and criminal liability risks.
- To have a program for the management and prevention of any crime that may occur.
- Detect improper operations in the company by management personnel, senior management and workers and deduct responsibilities.
- It will always be a good thing to have an element of control within the company.
- Increases our company’s credibility with owners, business partners, investors, and customers.
- It allows the detection of irregularities that may arise, including corruption structures or mechanisms.
- Avoid or reduce insurance costs or seek lower costs through the reduction of all risks or fraud policy.
- It gives the company an image of neatness and credibility both locally and internationally.
- It provides an important advantage to participate in public tenders for contracts.
- Reduces any possibility of fraud or bribery within the company.
- You must become an effective collaborator when it comes to investigations or collaborate in order to avoid damage to the image.
For our customers
- It offers clients the assurance that they are operating within the framework of compliance, through the operation of the figure of good corporate governance.
- It allows them to have commercial relations with those companies that have not been sanctioned or fined.
- Compliance with the rules of Compliance is international in nature.
- It offers security and a good investment climate.
- To be an effective collaborator when providing information, in addition to offering an environment of transparency.
Today more than ever, companies must implement mechanisms to shield their operations and their image; this is not a fashion, but rather a matter of promoting good corporate governance and an organizational culture in line with a code of ethics. The challenge is to eliminate all possible threats, including third parties, who are often responsible for mismanagement that others must then pay for. We will talk about that in our next installment.
