Albert Einstein once said “I don’t need to know everything, I just need to know where to find it, when I need it.”
Indeed, there is no shortage of content in the digital era. The regulatory landscape is constantly evolving.
To maintain compliance, businesses need to monitor regulatory changes in laws, policies and regulations, before producing regulatory intelligence. Data is then synthesized into a strategic action plan – adjusting compliance procedures, for example, to avoid enforcement fines.
Compliance professionals need to keep pace with the unrelenting volume of regulatory changes to follow state, federal and international laws and regulations relevant to the company. Otherwise, it’s at risk. New information from regulators, governments and related agencies is gathered and analyzed to determine the company’s best course of action.
And with changing norms and increased enforcement activity, keeping up with regulatory changes is more important than ever.
As per a particular question and geographical area, professionals need to gather extensive research of regulatory norms relevant to the company.
Meredith Brown-Tuttle, chair of the RAPS publications Task Force, says Google is generally a good place to start. It allows for refined, targeted searches.
But it’s an overwhelming list, the sources online to check for your research: newsletters, announcements, trend data, guidance documents, websites, consultation papers, FOI Requests, warning letters, regulatory emails and seminars and training sessions. The list goes on.
To efficiently track information and be alerted of changes, professionals use many regulatory intelligence and compliance tools, like Visualping.io, to automate the process, as opposed to manually checking the content for updates themselves.
The world’s top website change detection tool, Visualping crawls pages for content updates, such as newly emerging compliance risks. When changes occur, Visualping takes a screenshot and sends it to you as a real-time email alert.
Visualping assists numerous law and consultancy firms responsible for monitoring regulatory changes to support their clients – lawyers, for example, assisting drug manufacturers in the healthcare sector by monitoring geo-specific producer licensing. Or agencies monitoring the ongoing approval and cancellation of legislation to anticipate the impact.
But as well as for regulatory compliance, businesses use Visualping as a competitive monitoring tool, to produce competitive intelligence. For more on this, check out our blog post what is competitive intelligence?.
Visualping has been covered extensively by major news publications, including The Wall Street Journal, NBC, Fox News and The Washington Post.
By crawling web pages, Visualping monitors the horizon for upcoming regulatory changes, such as newly emerging compliance risks.
Users customize which pages to monitor and how often the page will be crawled. You can monitor either visual, text or HTML page changes, and even target specific keywords for filtered monitoring options.
Text-compare is the monitoring mode for capturing textual page changes, such as changes to Terms and Conditions Agreements (T&Cs). In the email alert, text added to the page is highlighted in green. Removed text is highlighted in red.
Visual-compare is the monitoring mode for capturing visual page changes, such as tracking new postings to online calendar schedules for committee hearings. All page changes, under Visual-compare, are highlighted in red.
Depending on the urgency of the regulatory change, Visualping can monitor pages as frequently as every 5 minutes, 15 minutes, half hour, several hours, once daily or weekly.
Regulatory changes need to be monitored in a way that allows for accurate identification of the key information most relevant to the company.
Filter your monitoring with Visualping’s Keyword Alerts feature. Instead of being alerted every time text changes occur, such as a new guidance announcement or posted bulletin, receive alerts only for posts containing keywords of interest.
Benefits of business subscriptions include extra service (a dedicated account manager, phone support, demos and training), advanced features and secured servers, with 99% uptime guarantee.
Regulatory compliance is a continuous process that requires constant monitoring of regulatory changes to ensure the company’s success.
Professionals use online tools, like Visualping, to efficiently research changes to relevant topics and synthesize data into actionable items.
For more information about Visualping as a regulatory changes and compliance tool, contact us at email@example.com.