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| | Post New Topic | | Outsourcing Compliance Services - An Increasing Trend | Views: 719 | | Jul 21, 2010 10:49 am | | Outsourcing Compliance Services - An Increasing Trend | # |
Amicorp BPO | | With compliance regulations becoming more and more stringent, there is an increasing trend among global organizations to outsource regulatory compliance. Given the growing complexities of this process and the resulting cost escalation, many companies have reported substantial process & cost benefits derived from outsourcing this particular function. The need for quality compliance services is especially paramount in emerging markets. Today, we see a growing number of global organizations relying on foreign sourced expertise to mitigate non-compliance risk across all regions.
A recent survey by global logistics company BDP International has shown that companies typically deal with product-related compliance regulations (such as registration) in-house, while outsourcing other compliance matters to third party providers. This finding validates the hypotheses that most companies currently only outsource a part of their compliance services, and as such there should be room for outsourcing opportunities in this sector.
In terms of the size of the organization, the survey indicates that most companies with a turnover of less than $1 billion prefer to outsource at least a part of their compliance requirements. The larger enterprises who have to date relied completely on their internal resources, are now realizing the benefits derived from outsourcing and are looking at this aspect seriously.
The ever increasing trade and security programs also have an impact on both importers and exporters. Today, it is imperative that global importers & exporters understand the vagaries of the regulatory landscape and the speed with which it is changing. In this context, outsourcing compliance services to an organization which has localized expertise will enable organizations to stay ahead of the regulatory curve.
Amicorp’s expertise in compliance outsourcing solution is a direct product of our extensive experience as a fiduciary services provider in various jurisdictions, making us your partner of choice for outsourcing compliance services. Amicorp as a group is currently under supervision of and compliant with the regulatory requirements of 9 Supervisory Authorities in various jurisdictions worldwide and we have over 16 years of experience in dealing with local regulatory compliance in over 25 jurisdictions.
Based on our own experience we have identified the need for compliance support services for companies who do not have the local regulatory compliance expertise, and we offer fitting compliance support solutions to a variety of clients. Our services lighten your compliance burden while optimizing your level of risk management by offering risk-based tiered approach that is configurable for small, medium and large business in different industries.
For more information, please visit http://www.amicorp-bpo.com/
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