State of the Industry

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Compliance Programs Cost Organizations Millions, Yet Only One-Quarter of Accounting Professionals Believe This Function Adds Significant Value 

Organizations spend, on average, $2.4 million annually on corporate compliance and internal control, which speaks to how vital these functions are to organizations. But are companies getting a return on this investment?

Our research, conducted in conjunction with the University of Georgia Consumer Analytics program, found alarming disconnects, including:

  • Only 26% of survey participants felt their existing compliance and control management processes add significant value to the organization
  • More than half indicated their current processes are adding stress to their work rather than removing it
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Organizations that “Check the Box” on Compliance Miss Out on Strategic Benefits

Most organizations take a tactical approach to compliance and internal control rather than pursuing a strategic plan to direct and prioritize activities that protect the organization and provide value.

What’s stopping organizations from realizing organizational value from their compliance activities? 

Learn about the three critical areas of opportunity uncovered by our research:

• Improving compliance systems and processes for stress reduction and added value

• Optimizing compliance team staffing for increased ROI

• Adopting compliance technology as a catalyst for change and greater organizational impact

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Unlock Strategic Value and Reduce Compliance Complexity, Cost, and Effort with FloQast Compliance Management

FloQast delivers workflow automation software that enables organizations to solve current and future shortfalls and operationalize toward accounting excellence. Built by accountants, for accountants — to enhance the way accounting teams work. 

Discover the New Compliance Solution