Companies spend millions each year conducting mandatory training. Whether triggered by an audit, the risk of non-compliance, bad PR, or internal training requirements, achieving compliance can be difficult and costly. One of the biggest challenges that organizations face today is reducing costs from fines and lawsuits. This paper explains how a learning management compliance solution can help manage an organization’s compliance requirements. The solution helps organizations manage and track compliance, relieving the headache of being ready for internal or external audits. It can help reduce costs and mitigate risks by:
• Moving processes away from paper
• Centralizing tracking and automating assignments and notifications
• Reducing errors, injuries, and the risk of lost business reputation
• Tracking exceptions and reporting completed training
Executive summary
Managing compliance requirements for government regulations and management initiatives can be expensive and time consuming. Compliance requirements can be triggered by several different factors: Federal and state regulatory agencies can impose regulations on organizations; internally driven initiatives can impact the entire organization; and external organizations can mandate processes and procedures that must be followed. While compliance can be tracked manually, manual tracking is often time consuming and error prone. Being out of compliance can be very expensive due to fines and lawsuits.
This paper explains how a learning management compliance solution can help manage an organization’s compliance requirements.
