5 Reasons You Might Need a Compliance Assessment

When you are going about the day-to-day business of compliance, you may not always think about looking at the big picture. Are you meeting all of your regulations effectively? Are there regulations you should be meeting that you have a failed to notice?

In the complicated world of global compliance regulations, it can be all too easy to let a requirement fall through the cracks, leaving your company vulnerable to lost time and resources as well as financial penalties.

A compliance assessment enables you to step back and look at all the product compliance regulations and requirements you are expected to meet and identify the tools you need to do so. It can put a spotlight on areas that need improvement and provide you with a roadmap that will guide you to sustainable solutions.

How a Compliance Assessment Can Help You

Understand Your Compliance Requirements

Are you meeting the right regulations? Have you overlooked anything? When you are caught up in the routine work of your business and of complying with existing regulations, you may fail to notice when a new regulation crops up or when a change in your product materials means a new requirement must be met.

A compliance assessment can uncover every compliance regulation and unique customer requirement that your products are required to meet. It can also guide you into the future, helping you keep an eye on the horizon for potential compliance regulatory changes that may be coming.

Improve Compliance Systems

Understanding all your requirements enables you to turn an eye toward your compliance systems to see if they are working effectively. Do you have the right software systems in place to meet all your requirements? Are the right people assigned to the right tasks?

Receiving a thorough compliance assessment is also an ideal time to examine any possible weaknesses in your compliance systems. This can include workflow processes, software solutions, management systems, or employee assignments.

Find Weak Links in Your Supply Chain

Once you know all the regulations and requirements you are expected to meet, you can more easily identify where in your supply chain you need to make changes. Perhaps you have a supplier that is not communicating effectively with you to meet regulations. Or maybe a new requirement means you need to source a different type of material for your product.

Understanding your requirements can help you understand your supply chain and identify the areas that may need to be addressed for both smoother compliance and smoother production.

Set Future Goals

Are there sustainability goals your company is working toward? Are there certifications you are pursuing? Effective compliance is an essential first step in meeting any future goals you might have for your products and supply chains.

If you are not complying with your most basic regulations, you will not be able to reach the next steps in your sustainability goals. Identifying all your compliance requirements through a compliance assessment helps ensure a solid foundation is in place for you to build your future goals on.

Improve Job Performance and Satisfaction

Understanding the regulations and requirements you must meet will guide your employees in their day-to-day work.

Do your employees understand their scope of work? Are there any regulations you need to meet that they don’t fully understand? Having employees who are not fully trained in the compliance work they are doing or who don’t understand the requirements not only can leave you vulnerable to compliance risks, it can also increase job dissatisfaction. Employees who don’t understand their job are more likely to be frustrated by it.

A compliance assessment can help your company focus on the regulations and requirements that need attention. This will help you see areas were your staff might need more support.

Get a Compliance Assessment from Tetra Tech

Without taking a wider view of your compliance performance, you may be letting regulations remain overlooked. This can hold your business back from meeting future goals and cause problems in the short-term with your supply chain and your customers.

To further discuss the ways a compliance assessment might benefit your company, contact Tetra Tech today. Our experts can offer you a thorough compliance assessment that can guide you into a sustainable future and give you confidence that you are fully meeting your regulations and requirements.

 

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