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Compliance Fridays: Compliance Technology

Buckner assists organizational clients with developing, auditing and enhancing compliance programs. The firm’s “Compliance Fridays” blog series is designed to provide clients and interested readers with best practices and strategies for, as well as insights into, compliance. An effective compliance program helps an organization, and its employees, agents and officers, conduct operations and activities within the scope of the law and internal policy; ethically; and with the highest level of integrity and professionalism. Today’s post discusses the use of technology in a compliance program.

It is common place for organizations to invest funds in software and other technological advances to enhance compliance programs. The incorporation of technology into a compliance program helps stretch budgets; increases accuracy; and assists humans with completing compliance functions. However, an organization that relies on technology should be mindful of the following issues:

  1. Your software or program should be flexible so that it can be updated to reflect new or revised laws, regulations and policies.
  2. The technology should serve multiple functions. For example, a software program that can be used for compliance and risk management functions improves efficiency, identified common issues across departments and saves money.
  3. No matter how successful technology is, it cannot replace the human touch. Technology is only as good as the person who designs, maintains and uses it. Further, compliance professionals should be used to analyze and spot check the results from compliance software.

Contact attorney Michael Buckner (+1-954-941-1844; mbuckner@bucknersportslaw.com) for more information on, or to assist with auditing, a compliance program.

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About Michael L. Buckner, Esquire

An attorney who provides clients with internal investigation, civil litigation, estate planning and compliance services.

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