Articles
RSSTurning Content Into Competitive Advantage — Compliance And Corporate Governance By Tom Jenkins, Open Text Corporation
May 4, 2005
Download the complete white paper now.
By Tom Jenkins, CEO, Open Text Corporation
ECM solutions are playing a major role helping many of the world's leading companies streamline and accelerate compliance and corporate governance wherever they do business in the world.
In every industry and in all countries countless government regulations, industry standards and company procedures exist. How a company manages itself and its compliance efforts has a direct impact on shareholder value. Poor management and/or non-compliance can lead to lost business, financial penalties and even criminal charges. In some industries, failing an auditor's inspection can ultimately lead to a company being closed down until corrective action is taken.
Clearly, it is important for an organization to be well managed and compliant, but there is more to compliance than simply following rules. At the heart of each set of industry regulations and standards are the basic principles for doing good business—these principles are derived from the experience of best practices, policies and procedures for each industry and are often designed to prevent adversity from being repeated. To understand how ECM helps organizations manage compliance and governance, it is important to differentiate between the two concepts.
