With the new year fast approaching, compliance professionals have their eyes on the future…and they aren’t alone. In our recent webinar, “Preparing for 2022: Compliance Trends and Priorities” we covered topics ranging from technology automation to the SEC’s focus on MNPI, and we discovered where top compliance professionals will be focusing their efforts in the next 12 months.
Automating Processes to Build Comprehensive Programs
What’s the difference between data and intelligence? Structure. Understanding how to transform the seemingly endless stream of data into clear insights is the lynchpin to success within the compliance industry. But with the sheer quantity of data flowing into your organization on a daily basis, the question becomes: how do we move out of managing the data and into analyzing it?
A question many professionals still haven’t quite puzzled out, given that 71% of professionals considered data management a top challenge according to an October 2021 ComplySci® Stats poll.
To see if opinions had changed, we asked attendees at our recent webinar, “Preparing for 2022: Compliance Trends and Priorities” what they thought, and we learned:
- 100% of attendees believe the amount of data they are managing will either increase (38%) or stay the same (63%) in the next six months.
Compounding the challenge of data management is the ever-evolving regulatory environment, including the SEC’s Marketing Rule and the second year of SM&CR in the UK. The answer? Automation.
- 70% of compliance professionals state that regulatory changes are causing their compliance teams to consider increasing automation in the next 12 months.
Whether you’re a business of one or an enterprise level organization, automation is the key to stepping away from administrative compliance and towards a more comprehensive compliance program, creating strategic value for your firm. And we’ve got the data to prove it.