Compliance with laws and legislations
Your company is in the middle of the society. A society with often complex legislation and regulations that sets requirements for how to run your business. The ever increasing regulatory pressure and the ongoing changes to legislation and regulations make it increasingly difficult to continue to comply with these regulations. Besides the associated work effort it also leads to additional costs.
In the years to come the agenda includes IFRS15, refinements on Privacy Legislation and the Data Breach Notification Obligation. Premium Consultants are aware of these developments.
Our experience enables you to implement efficient and effective solutions. We do this together with you. Driven by our drive for simplification staying compliant (and the check on it) will become easier for you.
In recent years Premium has helped her customers succesfully introduce regulations with respect to SEPA, the Data Retention Act and SoX. Legislation and rules that had a profound effect on IT and processes. Premium understands your interest to make the necessary changes to your processes and IT with as minimal an impact and as low a risk as possible.
Premium can help you to become and stay compliant in a pragmatic way.
What customers ask us
What does this legislation and these regulations require from me ?
The impact of a change in legislation or regulations is often heavily underestimated by organisations. So, as an example, the introduction of SEPA would only require a longer bank account number, what is the big deal ? The fact that this is a key number that is embedded in the complete “order to cash” process chain and is used for out-payments was easily stepped over as well as over all the changed direct debit requirements. It is always good to have accountants and legal involved in translating a changed ruling for effects on your situation. How to implement these required changes into your IT and processes is a different specialism. A specialism that Premium consultants master quite well.
How can I become (and stay) compliant in a pragmatic way ?
When the requirements from new laws and legislation become clear it is important nót to translate these one by one into a specific solution. Laws and legislation can hit your entire ICT, but it often is possible to isolate the consequences in few or even just one application. It also may be that the adaptation of current commercial propositions can reduce the effects of the changed laws. The reduced adaptation costs can thus be used for commercial projects. Premium colleagues are uniquely experienced to increase your insights in the pros and cons and help you to make a choice. Resulting in a well thought through, pragmatic and sufficiently defined solution.
How can I be sure that I am still compliant ?
In real life processes and agreements to ensure compliance dilute. Furthermore laws and legislation adapts regularly. This can cause great risks. By means of an audit Premium can check if laws and legislations are correctly applied. In addition to this an advice can be expected how to return to be being compliant and we can help to implement this advice. We go a level deeper than the accountant who normally is more involved in spotting relations.
How do I lead and steer my compliance project ?
When the measures required by law and legislation are clear it is a good idea to assign these to a so-called “Design Office”. This design office leads and keeps track how the measures are implemented. It also has a controlling and coordinating role. Premium has manned the design office for a number of bigger compliance projects.