Technology solutions drive efficiency and confidence in compliance

The Inaugural Forensic & Integrity Pulse Series shows compliance leaders are actively deploying their digital approach with a focus on AI readiness.

In brief

• Compliance and legal teams recognize digital compliance solutions as essential, and demand is rising for integrated monitoring and AI processes.
• Organizations are missing out on the full benefits and efficiencies of digital tools, facing hurdles with implementation and updates as technology evolves.
• Developing a modular approach can pave the way for agile, future-ready systems that provide real-time insights for stronger compliance oversight.

Compliance and legal leaders see advanced technology solutions as essential for enhancing risk monitoring strategies, and many are actively working to improve their digital framework. Our pulse survey data shows 100% of respondents are addressing digital capabilities within their compliance strategy, but just over half (55%) are either actively implementing or have fully optimized their digital tools.

“Compliance teams increasingly recognize technology as a key enabler. There is a clear trend of compliance leaders wanting to leverage technology to better collaborate with business leaders to proactively address compliance challenges, predict and monitor risks before incidents occur, and enhance insights reported to stakeholders to demonstrate value and protect the company,” said Gary Burke, Global Integrity & Compliance Leader.

It is highly encouraging that most survey respondents cited they have the support of leadership, the necessary technical capabilities and the budget to implement their digital strategy. However, the most significant reported obstacle is resource challenges, with almost half of respondents (47%) noting a lack of time as the primary barrier to adopting advanced technology solutions.

Modular, cloud-based solutions can offer a less time-intensive implementation option, allowing companies to develop their digitized compliance program over time. Oftentimes, we find that organizations begin with modules focused on data analysis and automation to drive process efficiencies and then look to expand into visual reporting and measuring risks to improve compliance risk management. 

However, challenges remain, leading to low employee adoption of newly implemented tools. The top issue identified is integration difficulties, which can create inefficiencies when systems and data sets are not interconnected. This disconnect necessitates manual effort and data manipulation, undermining the effectiveness and productivity that digital compliance solutions are designed to provide.

Top five challenges when adopting advanced technology solutions 

As technology rapidly evolves, another primary concern is the need to invest in advanced technology solutions that can adapt to the constantly changing business landscape.

A related challenge in keeping technology-enabled tools current is the isolated implementation of digital solutions without an integrated digital strategy. Without such a strategy, tools often focus on immediate needs, rather than long-term goals, serving a limited purpose and thereby reducing their overall value. When evaluating a new tool, compliance leaders should consider the tool’s ability to connect to the broader compliance environment of existing systems and data. This technology integration is the foundation for the next stage of digital evolution — building a unified AI-driven compliance platform.

Decision-makers understand the importance of creating a digital compliance ecosystem that integrates various tools and technologies. A significant majority of survey participants (93%) believe that a unified compliance platform — like a cloud-based solution that consolidates data and provides real-time response — would be highly beneficial for their department.

Scott Burrows and Kyler Capinegro also contributed to this article.