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Compliance Continuum: Paralyzed [Infographic]

The regulatory landscape is complex and always changing, often leaving companies in a perpetual game of catch-up. With so many moving pieces, it’s no surprise that some businesses become overwhelmed and choose to avoid compliance management altogether. Companies on this end of the “Compliance Continuum” may think: Why tackle a problem that can’t be fixed?

Compliance Continuum - Paralyzed ImageIn today’s business world, companies often operate across the globe from multiple locations. They may employ thousands of people. They may work with different systems and data. These business realities can make compliance management especially difficult.

In a new survey released by ADP, in collaboration with CFO Research, 70 percent of senior finance and HR executives surveyed say the need to conform to the legal requirements of multiple jurisdictions increases the difficulty of managing employment-related tax and payment compliance. In fact, some of the respondents we surveyed work for companies that operate in more than 50 regulatory jurisdictions, making compliance a bigger challenge than ever before.

But operating across multiple jurisdictions isn’t the only problem. According to the survey, 49 percent of respondents also say ensuring privacy and data security complicates their company’s management of employment-related tax and payment compliance.

Clearly, there are barriers that can stand in the way of developing and implementing a strong compliance program. This only reaffirms the need for businesses to be strategic about the way they approach compliance. Organizations have to work across teams and units to ensure they are in sync and keeping compliance a top priority. Our next post in this series will discuss how overcoming compliance challenges can help businesses do more than just avoid fines.

See the Compliance Continuum

Compliance Continuum image

See our previous infographic the Compliance Conundrum

Compliance Conundrum Image

ADP SmartComplianceSM is a cloud-based unified platform that helps ease the burden of key employment-related tax and payment compliance activities, virtually agnostic to your ERP, human resources or financial systems of record. For more insights and data, or to learn about ADP SmartCompliance, visit www.adp.com/smartcompliance.


One comment on “Compliance Continuum: Paralyzed [Infographic]”

  1. watch this says:

    Howdy! This post couldn’t be written any better!

    Reading through this post reminds me of my previous room mate!
    He always kept chatting about this. I will forward this write-up to him.
    Fairly certain he will have a good read. Many thanks for sharing!

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