Compliance management can be complex and overwhelming, especially for organizations in high-risk, highly regulated industries. From keeping up with the ever-changing regulations to continually revising strategies to best protect workers and the environment, it may feel difficult, if not impossible, to manage operational regulatory processes from start to finish.
And the stakes are high. Organizations found to be out of compliance face steep fees and penalties, and also risk tarnishing their company culture, reputation and mission overall.
Understanding the top compliance management challenges is an important part of creating a strong EHS and ESG strategy as your organization works to overcome them. Here are some of the biggest challenges to keep in mind:
Managing the full scope of regulatory compliance
Organizations in highly regulated industries need to start by tracking and monitoring operational and safety regulations, including ongoing compliance with regulatory requirements and contractual obligations. But that’s just the start of an effective compliance management strategy. They should also advocate for stakeholders, investigate non-compliances, write and revise procedures, implement improvement initiatives, prepare reports and data, and manage risk for numerous regulatory authorities, many of which have hundreds of regulations.
In short, meeting compliance means having both a bird’s eye view over the organization’s operations as well as on-the-ground details, data and actions – and a way to pull it all together in an organized and meaningful way.
Solution: Organizations must create workflows that work for them – ones that offer flexibility and visibility across operations. These formalized and streamlined procedures and reports should include:
- Advocacy and rulemaking
- Implementation
- Monitoring
- Non-compliance
- Data requests
- Report submittals
Make sure data is easily accessible by whoever may need it, and ensure the right people are alerted to what needs to happen next in order to stay compliant.
Staying current on regulations and updates
High-compliance organizations have a myriad of laws and regulations to follow, both locally, nationally and even internationally. And compliance regulations come from a range of organizations and entities, some of which include the DOE, NERC, FERC, DOT, DOD, and NRC.
Meeting compliance is not a “one and done” tickbox – it involves continuing to adhere and evolving through the changes that come from these entities and their standards. From missing an annual task to not learning about the latest update, there are a lot of potential potholes on the never-ending road to compliance.
Solution: Automate as much as possible, and don’t try to take it all on yourself. Make sure your organization has a system in place that will alert the right people to necessary tasks and steps that need to be made. Schedule out as far as possible so nothing falls through the cracks.
Also, consider working with a third-party company that’s built around monitoring and thoroughly understanding the latest compliance measures and requirements. That way, you’ll rest assured knowing your organization is up-to-speed and in-compliance with the latest rules and regulations.
Anticipating incidents, and how to prevent them
Meeting compliance standards is only part of a strong EHS strategy. Organizations looking to continually improve and keep their people and the environment safe must anticipate what incidents could occur, and then make an actionable plan to prevent them.
But knowing where to start, and where to look, can be challenging. Data and information such as near-misses, reports and oversights all need to be compared and aligned in order to make informed decisions.
Solution: Organizations need a way to streamline data and capture information from throughout operations. It starts with making it easy for workers to file a report, so information can be captured in real-time and is less likely to be overlooked.
Also, put away the pens and paper, and find a software management system. A strong software system can automate the process for reports and near-misses, streamline data from across the organization, and support data analysis to spot trends – so that your organization has the oversight it needs to make informed decisions.
Compliance management may not seem easy, but it's a critical step for organizations to meet standards and, most importantly, keep workers and our environment safe and healthy. Understanding the challenges in meeting the latest laws and regulations is the first step in overcoming them and, with some planning and new ways of doing business, organizations can not only meet compliance but exceed their own EHS goals.
How DevonWay can help
DevonWay is designed to help organizations ensure ongoing compliance with regulatory requirements and contractual obligations. Using our streamlined single platform, you can connect related processes such as risk management, audits and assessments, non-conformances, and more, all through one easy-to-use platform.
DevonWay Compliance Management enables you to manage and track all compliance-related issues, tasks, actions, and more. It's quickly configurable to ensure compliance with any government agency’s regulations, including DOE, NERC, FERC, DOT, DOD, and NRC. And it quickly accommodates future regulatory or contractual changes any time. Choose what DevonWay products make sense for your organization – they're natively integrated with each other and with all DevonWay products.
Ready to learn more? Set up a free demo to see what DevonWay can do for you.
