Source: Thomson Reuters
Thomson Reuters Governance, Risk & Compliance today announced the launch of Accelus Compliance Manager, a single platform that allows firms to track, monitor and understand regulatory changes and connect them to their internal compliance process and workflow.
The platform combines Thomson Reuters trusted global regulatory intelligence with its leading software platform for governance, risk and compliance.
Thomson Reuters Accelus Compliance Manager was created in response to customer feedback and is designed to connect the five key stages of compliance identified by Thomson Reuters Governance, Risk & Compliance: understand, evaluate and map regulatory risk; identify, monitor and track regulatory change; define and communicate controls; monitor, test and audit controls; and evidence risk controls to management and regulators.
The resulting solution provides information from more than 230 regulators and exchanges around the world, and can be deployed within an organization to manage the lifecycle of the compliance process, from the notification of a new regulation, through responding to regulatory audits.
The launch of Accelus Compliance Manager comes on the back of the results of a recent Thomson Reuters survey of more than 500 compliance professionals globally who report they are often struggling to keep up with the growing demands of global regulation. Accelus Compliance Manager was developed to address this challenge in association with some of the world's most heavily regulated organizations.
"The compliance manager's workflow has reached saturation point. Our customers are hit with thousands of regulatory developments each year and traditional manual approaches are no longer viable," said Andrew Neblett, SVP, Compliance, Audit and Risk, Thomson Reuters Governance, Risk & Compliance. "Budget constraints also mean departments are continually being squeezed to do more with less. Accelus Compliance Manager will help them support the oversight and operation of their enterprise-wide compliance programs across the business, and deliver improvements in corporate governance, regulatory compliance and the ability to achieve their business objectives faster."
Commenting on the launch, Mark Schlageter, president, Thomson Reuters Governance, Risk & Compliance, said: "You just need to look at the results of our Annual Cost of Compliance Survey 2012, to understand that the traditional approach to managing compliance and being able to evidence it to the regulators, will no longer scale to meet the new demands imposed by increased regulatory volume and complexity."
According to Schlageter, the launch of Accelus Compliance Manager builds on the success of Thomson Reuters Enterprise Governance, Risk & Compliance software solutions, designed to reduce the time, effort, and cost that organizations invest in their pursuit of Governance, Risk & Compliance convergence. It also follows the platform's positioning by Gartner, Inc. in its Leaders Quadrant of the "Enterprise Governance, Risk and Compliance Platforms Magic Quadrant" report, and it underpins the strategy and the vision behind Thomson Reuters Governance, Risk & Compliance business.