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Reduce risk and cost with control automation

Conquer the costs and demands of compliance

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Team discussion The costs of traditional compliance are increasing:

  • the cost of identification, documentation, analysis, remediation and monitoring to ensure compliance
  • the potential financial losses, damage to reputation, regulatory interventions or legal actions from failing to ensure compliance
  • the opportunity costs created by inefficient and outmoded processes

Grant Thornton estimates the opportunity cost of traditional SOX (Sarbanes–Oxley) compliance among its clients across a range of sizes to be about $1.9 million.

In traditional compliance, we needlessly divert human resources to rote, tedious and manual processes and remove those people from more creative and valuable work.

But new technologies accessible to companies of all sizes make it possible to transform the compliance function to become a more efficient and cost-effective machine, while delivering a more comprehensive view of an organization’s risk profile. Framed another way, compliance is now the byproduct of good risk management practices that are enabled by grouped data management technologies that were previously cost prohibitive to the risk function.

Download our white paper on how to lower your costs and clarify your risks with control automation.

Contacts

Ethan Rojhani
Partner, Controls Advisory
T +1 303 813 3478

Greg Haberer
Senior Manager, Controls Advisory
T +1 703-373-8735