Compliance requirements in companies are becoming increasingly complex and extensive.
Many companies are no longer able to cope with these changes adequately due to a lack of resources. Compliance Officer Services GmbH is your reliable partner when it comes to compliance outsourcing or support through a compliance service tailored to your needs. We are happy to support you or your compliance officer in ensuring compliance with all legal and regulatory requirements!
Compliance in SMEs is underestimated
Today, no company can afford to ignore the issue of compliance. Companies listed on the stock exchange, in particular, have long since relied on their compliance departments, which deal exclusively with this topic. However, many medium-sized companies still underestimate the usefulness of a compliance officer in their own company. Consequential costs are usually many times higher if irregularities come to light or are not noticed in the first place. Typical scenarios are antitrust violations or other anti-competitive acts, active and passive corruption or deliberately misrepresenting business transactions. The damage caused by corruption, in particular, has been far more significant than previously assumed.
Compliance creates trust
A company needs to develop, expand its position in the market and at the same time ensure that it maintains its reputation to remain attractive for employees, customers, business partners and investors alike. A compliance management system (CMS) provides a company with protection against corruption, criminal acts, and penalties. Under certain circumstances, it can even protect people in charge from imprisonment.
Time and again, there is a controversial debate about ethics in business. We are convinced that compliance creates trust; ethical behavior and lawfulness strengthens credibility. And credibility ultimately creates trust. Every entrepreneur wants to cooperate with companies that act in accordance with the law, adhere to rules and therefore also to contracts. Compliance not only creates trust, but it is also the basis for sustainable business.
Compliance pays off!
Anyone who wants to justify the necessity of compliance from an economic point of view will primarily recognize the long-term and sustainable advantages. But even at short notice, an effective compliance management system ensures the economic success of a company.
Over 40 percent of companies worldwide have been damaged by irregularities of various kinds in recent years. This resulted in an average loss of around 1 million euros per company, not to mention the loss of trust and image. For companies with more than 5,000 employees, the average loss was much higher.
Due to the constantly increasing cost pressure, it can, therefore, make sense for many (particularly medium-sized) companies to seek advice from an external compliance officer on the advantages and disadvantages of (also partial) compliance outsourcing.
Compliance Officer Services GmbH is a strong partner at your side. We are happy to answer your individual questions.