Being a good corporate citizen is about more than complying with regulations
With an intensifying regulatory environment, there is increasing pressure on businesses to understand exactly who they are working with. This becomes even more challenging with the global footprint of many companies since laws and regulations can differ country to country. These corporations are expected to have transparency not only of their clients, but also to carry out due diligence on their supply chains and third-party partnerships.
That’s not all. Being a good corporate citizen is about more than complying with regulations. Ethical working practices that go beyond compliance with regulation and cover all aspects of operations is becoming a crucial component of business strategy to meet the needs of customers, the wider public, and the media.
Dun & Bradstreet recently worked with the International Compliance Association (ICA) and ITN Productions on a current-affairs style programme that explores compliance and best practices in-depth. Within the film below, our global compliance experts discuss:
- Why compliance is integral to global organisations
- How supply and compliance functions are interconnected
- How data can help organisations conduct business responsibly
- The importance of good data for Beneficial Ownership
The full ‘Beyond Regulation’ programme is on the ICA website here.
Smart use of data, tools and analytics – such as those provided by Dun & Bradstreet – are crucial elements for compliance and procurement professionals. While they need to understand who they are doing business with, many companies are not currently optimising these tools to full potential. By using data and automation in their processes, organisations can increase efficiencies, protect against financial and reputational damage, and lower costs.
Written by Brian Alster, Global Head of Supply & Compliance, Dun & Bradstreet
Dun & Bradstreet holds the world’s largest commercial database – more than 300 million records - which enables leaders to manage their business relationships and make decisions based on reliable and accessible information, that is updated straight from multiple sources more than 5 million times a day.