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Compliance Risk Management
Glossary
What is Compliance Risk Management?
Compliance risk management encompasses the systematic identification and assessment of legal penalties, financial losses, and material setbacks linked to an organization's non-compliance with specific laws and regulations.
Understanding compliance risk involves an ongoing process that entails tracking environmental changes to keep the organization abreast of evolving regulations. This proactive approach is crucial for companies operating within the supply chain, emphasizing the practice of due diligence in supply chain compliance. By staying informed and conducting due diligence in supply chain compliance, organizations can navigate regulatory complexities and enhance their overall risk management strategies.
Learn more about Ivalua's Compliance Risk Management Solutions.
Understanding compliance risk involves an ongoing process that entails tracking environmental changes to keep the organization abreast of evolving regulations. This proactive approach is crucial for companies operating within the supply chain, emphasizing the practice of due diligence in supply chain compliance. By staying informed and conducting due diligence in supply chain compliance, organizations can navigate regulatory complexities and enhance their overall risk management strategies.
Learn more about Ivalua's Compliance Risk Management Solutions.
