Compliance & Risks launches knowledge management system
14 May 2007 | 2103 views | 0
Source: Compliance & Risks
After an intensive period of research and development, regulatory compliance experts Compliance & Risks (C&R) has made its innovative Compliance Knowledge Management System, C2P (Compliance to Product) commercially available for the first time.
Irish/US based company Compliance & Risks has developed a ground-breaking Compliance Knowledge Management System (CKMS) designed to revolutionise the way legal, regulatory and compliance issues are resolved. Regulations and requirements, especially in the environmental arena, have grown exponentially over the last 10 years, significantly increasing the scale of the compliance task and the cost of implementation for global businesses.
Companies have identified the need for a strategic solution capable of responding to the challenges of information overload, time pressure and technical complexity. In response Compliance & Risks has recently presented C2P to the world's leading hi-tech, electronics and industrial companies. Compliance & Risks CEO, Damien McGovern reports that the concept of web-based technology, integrated with up to the minute legal data, and supported by customised data services has caused quite a stir on both sides of the Atlantic and that the feedback is overwhelmingly positive.
Compliance & Risks' core product, C2P, helps the corporate world successfully navigate their way through compliance requirements much faster and more efficiently than was previously possible. As the electronics and hi-tech industries are among some of the most heavily regulated industries in the world, leading global companies have already expressed considerable interest in the system. Early adopters in California's Silicon Valley expect that C2P will help reduce time spent on compliance tracking by up to 60%, leaving more time for the added-value, strategic compliance tasks that help companies become more competitive.
Damien McGovern explains: "C2P is not simply a better version of other products on the market. It is a revolutionary tool which is like nothing that has ever existed before. In addition to the obvious time, cost and accuracy benefits of a top-end compliance management system, C2P allows companies to use compliance as a source of competitive advantagge. C2P gives a holistic view of the many strands that legal requirements create within an organisation, promotes effective cross-functional communication and collaboration and allows companies to find solutions quickly."
C2P has been developed initially for hi-tech, electronics and industrial companies; however the architecture of the application means it is equally applicable to other sectors and can be adapted to work with laws in any policy area.