The State of Compliance 2020 survey is underway. We invite all compliance professionals to take the online survey and contribute their voice to the resulting report.
The study will evaluate organizational structures, and highlight the true cost of compliance for companies of various sizes. It will also examine the state of digital transformation for companies’ supply chain data management programs, and provide a view into future trends and demands.
The aggregated results will provide actionable insights into how companies are navigating the expanding regulatory landscape, allowing compliance professionals to use baseline data to inform their programs and initiatives.
Assent was a partner in the 2017, 2018 and 2019 State of Compliance reports. In 2019, author Natalie Picot examined the costs associated with compliance, including the average annual cost of complying with regulatory requirements.
Other key takeaways from the 2019 State of Compliance report included the following:
- Companies are spending an increasing amount of time on compliance, and predict the increases will continue.
- Companies are reporting the use of both third-party solutions and manual processes for a hybrid approach to compliance.
- Mid-sized and large companies are typically more dependent on manual processes than their enterprise-level counterparts, which are more likely to embrace third-party technology.
- Companies using third-party solutions report consistently higher satisfaction with their compliance programs.
- Teams are largely maintaining a decentralized structure, with full-time compliance professionals likely to be located at a central, corporate level, though spread across various teams and departments.
Share your voice. Take this year’s survey now!
This year’s survey will take approximately 10 minutes to complete. Participants will receive a $5 Starbucks gift card, or the option to donate their reward to the World Health Organization COVID-Solidarity Response Fund.
Natalie Picot, a Stanford MBA graduate and independent researcher, will again author the report in partnership with Assent Compliance, Ropes & Gray LLP, Arcadis, Lorax Compliance, REACHLaw, Compliance & Risks and Inspirage.
Take the survey now and contribute to important industry benchmarking data. This year’s State of Compliance report will be released in late spring.