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The pay-offs from digital initiatives in the compliance field are better than expected, but most companies aren’t ready to take advantage of them because, for example, they don’t have the processes or enough digital talent in place:
- Positive payoffs: 64% of global respondents reported that the payoffs on digital investments in the compliance area were ‘better than expected’.
- Sub-optimal technological process integration: only 19% of RM, IA and compliance functions are well-integrated, or fully-integrated technologically with the governance, risk and compliance (GRC) tool.
- Lack of talent: Only 20% have a well-integrated or fully-integrated employee training programme on compliance and controls.
- EU compliance functions are rated lower than the global benchmark. For example:
- 61% of global respondents ranked compliance as adding ‘significant value’
- 47% of respondents based in Europe ranked compliance as adding ‘significant value’
Insights
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Interviews
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