5 Reasons You Might Need a Compliance Assessment

When you’re 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 failed to notice? In the complicated world of global compliance regulations, it can be easy to let a requirement fall through the cracks, leaving your company vulnerable to lost time, resources, and financial penalties. A compliance assessment enables you to 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 spotlight areas that need improvement and provide a roadmap to 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’re caught up in your business’s routine work and complying with existing regulations, you may fail to notice when a new regulation is issued or when a change in your product materials means you must meet a new requirement.

A compliance assessment can uncover every compliance regulation and unique customer requirement that your products must meet. It can also guide you into the future, helping you anticipate potential regulatory changes.

Improve Compliance Systems

Understanding all your requirements enables you to examine your compliance systems to see if they are working effectively. Do you have the right software systems 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 you need to make changes in your supply chain. 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 material for your product.

Understanding your requirements can help you understand your supply chain and identify the areas that you may need to address 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.

To reach the next steps in your sustainability goals, you must comply with your most basic regulations. Identifying all your compliance requirements through a compliance assessment helps ensure a solid foundation for your future goals.

Improve Job Performance and Satisfaction

Understanding the regulations and requirements you must meet will guide your employees’ 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 may leave you vulnerable to compliance risks and increase job dissatisfaction.

Employees who don’t understand their job are more likely to be frustrated by it. However, a compliance assessment can help your company focus on the regulations and requirements that need attention. Consequently, this will help you see areas where your staff might need more support.

Get a Compliance Assessment from Tetra Tech

Without taking a broader 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 explore the potential benefits of a compliance assessment for your company, reach out to Tetra Tech today. Our team of experts is ready to provide you with a comprehensive compliance assessment, guiding you toward a sustainable future and ensuring full compliance with all regulations and requirements.

 

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