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5 Ways Your Corporate Compliance Program is Falling Short

As you’re aware, a corporate compliance program’s success is intrinsically tied to the company’s success. An effective compliance program can save a company thousands in fees and hassle. 

For example, Filejet client Duross O’Bryan of Arrimus Capital said: “What’s been most important for our team is the responsiveness to our questions. With as many entities as we have, we’re bound to get tons of notifications and it is hard to keep track of what we need to do to ensure our entities are in good standing. Filejet has been incredibly quick to respond and always ensures we get the result we are looking for.”

In turn, a failing corporate compliance program can send the company hurtling down an undesirable path. Here are the top five ways a current program could fall short of true success. 

1. Technologically Innovative

In the modern era, there is no reason why a robust compliance program shouldn’t be technologically innovative — striving to use new technologies to work faster and more intelligently. At the bare minimum, all compliance information should be digitized, allowing easier access for the right individuals. 

Filejet offers an easy-to-use, fully automated system that is correctly sized for effective lifecycle entity management. With benefits like automatic due date notifications, Google Calendar integration, and a centralized document repository, our compliance platform simplifies entity management and reduces the risk of non-compliance. Filejet’s customizable features allow us to match your corporate needs with the tasks you need to accomplish.

2. Secure Systems

An in-house team is typically filled with top-performing employees working to stay ahead of compliance issues. A faulty security system can devastate all of their hard work and increase compliance risks.

Filejet can improve compliance program security by safely storing your entity filing documents in a centralized location. You can also securely store other documents like copies of contracts, permits, reports, and other secure documentation.

In addition, Filejet uses Microsoft Azure Server Networks for its off-site cloud servers. Used by many of the world’s largest companies, MS Azure is one of the most secure work environments. Your effective corporate compliance program will remain secure and more easily pass a risk assessment.

3. Automated Visibility

When evaluating corporate compliance programs – determining compliance status across a corporate space is not always easy.

With Filejet, automated visibility mitigates the risk of unclear compliance status. The platform helps a compliance officer stay organized by keeping track of due dates for compliance across multiple entities and jurisdictions. Filejet can run a number of internal controls by sending automatic reminders to all your compliance team members, ensuring that your company never misses a filing date or has to pay a costly fine.

You can also submit documents, pay fees to each state, and complete regulatory compliance tasks directly within the system.

Ultimately, with Filejet, a team is presented with all the information they need to meet policies and procedures and run a successful compliance program. 

4. DOJ Evaluation Prep

There are so many moving parts to compliance, and a program must balance the importance of prepping for something like DOJ evaluation of corporate compliance programs with the day-to-day compliance efforts.

A fully managed entity maintenance platform like Filejet can make your corporate compliance program more functional and take some of the workloads off your in-house team. Our unified system allows you to create new entities or add existing entities, making management less time-consuming for your compliance department. Furthermore, Filejet’s automated plan offers the option to offload your entity management to the automated system and the Entity Management Team, who will handle all filings and payments on your behalf.

In essence, Filejet allows your in-house compliance team to focus on other high-priority tasks that require their attention. You’ll have complete transparency about your entity maintenance without the excessive workload.

5. User-Friendly Systems

Unfortunately, utilizing multiple complicated programs or systems often results in missteps.

Filejet’s user-friendly platform makes compliance training for managing entities and staying in compliance a breeze. Our effective program makes it easier to comply with external regulations like the Foreign Corrupt Practices Act and other compliance obligations. Its intuitive design provides an expansive option menu to help you form a new entity and select its operating jurisdictions. You can also easily upload entity documents by dragging and dropping them from your computer.

Sharing your documents with outside entities is also possible with Filejet. Invite your compliance officers, senior management, attorneys, and clients to access and edit entity information. Effective corporate compliance programs are secure and sharable.

Run a Successful Corporate Compliance Program With Filejet

In today’s business environment, corporate compliance is clearly a top priority. A successful corporate compliance program can save a company from unnecessary legal fees and enhanced scrutiny from regulators. 

Filejet is the perfect tool to ensure your current program reaches true success. Our trusted platform lets you seamlessly form, maintain, and organize your business entities. From automated systems to a dedicated support team, we’ll help your entities always stay compliant. 

Schedule a demo today to see how Filejet can improve your compliance program.

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