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Why WoodWing Solutions

Content Creation

icon-woodwing-content-creation

Content Creation

Collaborate and create high-quality channel-neutral content

icon-woodwing-dam

Digital Asset Management

Manage and distribute digital assets for streamlined content

icon-woodwing-multichannel-publishing

Multichannel Publishing

Maximize reach with seamless multi-channel content publishing

icon-woodwing-content-orchestration

Content Orchestration

Managing content at scale has never been easier or more profitable


Content Management

icon-logo-woodwing-document-management

Document Management

Centralize and control your documents, ensuring secure access

icon-woodwing-information-management

Information Management

Become more agile, reduce risks and benefit from available data

icon-woodwing-knowledge-management

Knowledge Management

Bring knowledge and people together to work on quality

icon-woodwing-process-management

Process Management

Describe and organize processes and make them accessible to everyone

icon-logo-woodwing-quality-management

Quality Management

Collectively ensure that you do the right things in the right way

icon-woodwing-risk-management

Risk Management

Gain insight and control over every aspect of risk management.


Content Services

icon-logo-woodwing-ai-governance

AI Governance

Develop and distribute your own AI policies and stay compliant

icon-woodwing-creative-workflow-services

Creative Workflow Services

Unleash creative potential with tailored support from experts

icon-woodwing-digital-publishing-service

Digital Publishing Services

Enhance digital publishing strategy with expert services

icon-woodwing-integrations

App Integrations

Integrate WoodWing seamlessly into your existing tech stack

icon-woodwing-cloud

WoodWing Cloud

Experience stress-free hosting, software maintenance, and more


FEATURED CONTENT PIECE

Der Spiegel

How one of Germany’s largest news publications increased editorial and production workflow efficiency using WoodWing’s publishing software.

Read this case
Products

Take charge of your content

WoodWing Studio

Streamlined content creation and multichannel publishing solution

WoodWing Studio

Collaborative content creation and multichannel publishing solution that simplifies workflows and streamlines production processes.

Assets Logo (base)

Enterprise-grade digital asset management for streamlined workflows

WoodWing Assets

Enterprise-grade digital asset management solution that streamlines your creative workflow and simplifies collaboration among team members.

WoodWing Swivle

Cloud-based DAM for seamless file management and collaboration

WoodWing Swivle

Cloud-based DAM solution for managing, sharing, and collaborating on digital files from anywhere and on any device.

WoodWing Scienta

Software to collaborate on quality and have control over and maximize the benefits of the knowledge present in your organization.

WoodWing Scienta

Quality management platform for regulated industries that simplifies compliance, knowledge sharing, and collaboration.

WoodWing Xtendis

Secure digital archiving and document management system

WoodWing Xtendis

Digital archiving and document management system that allows organizations to store, manage, and access their digital assets securely.

Connect Logo (base)

Powerful integration suite for seamless connectivity and automation

WoodWing Connect

Powerful integration suite, including APIs, webhooks, plugins, and the best-in-class iPaaS solution (powered by Workato).

WoodWing Smart Styles

Efficient plugin for enhanced Adobe InDesign design workflows

WoodWing Smart Styles

Plugin for Adobe InDesign that streamlines design workflows by allowing designers to apply predefined styles quickly.

Industries

We know your challenges

icon-woodwing-agencies

Agencies

Optimized workflow, improved collaboration, and brand consistency

icon-woodwing-finance

Finance

Modern document and quality management helps you manage risks and improve processes

icon-woodwing-franchise

Franchise

Ensure unity with document, quality, and knowledge management

icon-woodwing-healthcare

Healthcare

Always access the latest version of each process, protocol, guideline, or agreement

icon-logo-woodwing-housing-corporations

Housing Corporations

Document management from context, always up-to-date, complete and accurate documents

icon-woodwing-manufacturing

Manufacturing

Consistent branding, accelerated launches, and integrated content management

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Publishing

Efficient content creation, collaboration, and multichannel publishing

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Retail & eCommerce

Streamlined catalog and marketing content production for faster time-to-market

icon-woodwing-transport-logistic

Trade & Logistics

Increase efficiency with process, document, and quality management

Featured content piece

Bavaria

How Bavaria significantly improved its global brand management.

Read this case
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Success Stories

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Meet us in person or virtually at one of our events or webinars


Latest articles

Innovation, Insights, and Community come together at WoodWing Uncovered APAC

Innovation, Insights, and Community come together at WoodWing Uncovered APAC

What is quality management? And how do you approach it?

What is quality management? And how do you approach it?

Beyond theory: effective risk management in practice

Beyond theory: effective risk management in practice

View all blog articles

Featured content piece

Medium Rare

How Content Agency Medium Rare delivers better client experiences and outcomes with WoodWing.

Read this case
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Home Inspiration Blog | WoodWing

Process Management

Quality Management

3 minutes of reading

Compliance: what does it mean and why is it important?

What is the meaning of compliance? What is compliance management and why is it becoming increasingly important? And above all, what is the role of compliance software in compliance management?

Shape

The meaning of compliance

The meaning of compliance is literally ‘the action or fact of complying with a wish or command’. It means that you comply with the laws and regulations of the government, (financial) regulators, and others. It is also important that you work according to the standards and rules of your own organization.

Especially in the financial world, more and more laws and regulations arise. That is also what the term compliance was coined for. This is partly due to the financial crisis of 2008. Of course, we never want to experience something like that again, so we cam up with more rules, and they started piling up. Rules against fraud, insider trading, and money laundering.

A financial organization today even faces rules to prevent the financing of terrorism. Go figure!

Requirements in the financial sector

If you're working in finance, expectations and demands are quite high. For example, you're expected to perform your job honestly, reliably, and carefully. You're expected to look at what your customers and your shareholders think is important. You are required to behave according to the law and to not misuse your knowledge. You're also expected to let others judge you and to ensure that people trust and have confidence in the financial sector. If you fail to do this, you are liable.

There you go, that's compliance management in a nutshell. Michael Douglas in the movie ‘Wall Street’ and Leonardo DiCaprio in ‘Wolf of Wall Street’ are perfect examples of how not to do it.

Financial institutions supervised by DNB (Bank of the Netherlands), AFM (Financial Markets Auhtority), and/or BFT (Financial Supervision Office) are required to appoint a compliance officer (aka compliance manager). This is, by definition, an independent and autonomous position.

CSR is compliance

But there's more. In a way, compliance management is similar to ISO certification. The crucial question is whether you're doing it for the regulator, or because you really want to make progress as an organization?

Ultimately, compliance management is also about the effects of your activities on the environment, which in turn is part of the QHSE (Quality, Health, Safety, and the Environment) policy – a framework that helps organizations manage and improve their performance in these areas. Compliance management also forces you to take into account the needs of all the people who come into contact with your organization, which refers to your organization's corporate social responsibility.

Compliance: relevant for various industries

Although compliance management originated in the financial sector, there are very few organizations for which compliance is not relevant. It's not always labeled compliance, because many sectors have a different name for it.

As a lawyer, you have to deal with codes of conduct for which you have taken an oath or promise. In healthcare, too, it is important to adhere to codes of conduct and to be honest and trustworthy.

Due to a number of stock market scandals, compliance management is now also important in corporate companies. By the way, compliance management can be quite a challenge, especially if you operate abroad. If that is the case, take into consideration that the interpretation of laws and regulations differs from country to country when it comes to managing compliance.

Compliance and decision-making

Compliance management is much more than an obligation. As an organization, you can also use compliance management in decision-making processes. How? For example, by making it part of the goals of your organization for new developments.

Compliance also helps to determine whether a choice you want to make, is desirable and feasible. As a result, the work of the compliance manager is very versatile.

Focus on sustainability

In the financial sector, compliance management is primarily focused on sustainability, says Caja de Groot. She is compliance officer at Stroeve Lemberger, an independent asset management advisor.

“The financial sector is important in achieving international sustainability goals. To this end, new laws and regulations are emerging that will help improve the operations, processes and procedures of financial organizations. An example: previously, investors could exclude sectors such as the arms industry. But in the future, you can actually choose investments that steer towards environmental objectives.”

Compliance management: inform your employees
Laws and regulations change all the time. Even the standards and procedures within an organization are not set in stone. So you have to keep repositioning them in your policy and working methods. But if employees know nothing about it, nothing will change, of course. Compliance management also means informing your employees, involving them in the changes so they understand why something is needed, what is needed and what is their role in it.

Compliance management software makes a difference
To inform employees, good compliance software is indispensable. “For that we use WoodWing Scienta”, says Caja. “With Scienta, you can give your entire organization access to current laws and regulations, implications for procedures and using documents. Let's say we have an educational meeting. Then we put the important documents in Scienta: from procedures to instructions.”

“After that, I send our employees a message from Scienta with links to those documents. This is valuable to employees. As compliance officer, using the available compliance software, I have established that they are well informed. And I can prove that employees have viewed the documents. Also very nice in Scienta is the search feature that employees can use to find everything quickly. In short: good compliance software helps enormously, both for quality management and process management. For us it works perfectly.”

Shape

Published on May 06, 2021

Kitty van Commenee

Kitty van Commenee, started as a Content Marketer and now a Demand Generation Manager, develops powerful marketing campaigns with a keen focus on writing, social media, and strategy.

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