As the volume of regulations and legal requirements and the associated efforts and costs for achieving compliance is ever increasing, there are some key questions that organizations need to ask themselves:
- What is our risk and financial exposure if policies and procedures are not followed or are not auditable, and we are out of compliance?
- Do we spend a lot of time, money, and effort creating, acquiring and handling an ever increasing number of policies & procedures that need editing, review, and approval by multiple people?
- Is it important to have our employees agree, in writing, to policies and procedures that affect their job, performance, or personal behavior?
Policies and Procedures (P&Ps) are often considered a necessary evil and given little attention until something goes wrong. If your critical procedures aren’t managed right based on policies, you waste time and money—and risk non-compliance, costly errors, or worse. Not only is your organization at risk, it can’t operate to its highest potential. In today’s competitive and highly regulated environment, you can’t afford that.