Effective policy management has always been critical to the success of corporate compliance programs. Recent events, however, have been a powerful reminder that policy management is becoming even more critical to the success of compliance programs, and to business performance overall.
Corporations have endured pandemic, recession, social justice protests, international conflict and climate disruption—immensely powerful forces that demonstrate the importance of responding to changing circumstances in a disciplined, thoughtful manner.
Without effective policy management, corporations won’t be able to meet regulators’ expectations for compliance programs, or respond to disruptive external events in an efficient manner. To put matters in terms the CEO and the board would appreciate: effective policy management is a strategic advantage for the modern enterprise. It helps the business to achieve its objectives even in today’s highly regulated and highly unpredictable world.