{"id":713,"date":"2008-11-18T07:00:42","date_gmt":"2008-11-18T15:00:42","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=713"},"modified":"2008-11-18T07:00:42","modified_gmt":"2008-11-18T15:00:42","slug":"compliance-many-european-companies-still-rely-on-manual-processes","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/compliance-many-european-companies-still-rely-on-manual-processes\/","title":{"rendered":"Compliance: Many European Companies Still Rely on Manual Processes"},"content":{"rendered":"

Companies in Europe are behind American companies<\/a> in how fast they’re adopting to the requirements of various Compliance measures.\u00a0 In the US, only 11 percent of large companies say that their firms still are not SOX compliant.\u00a0 Contrast that to Europe where as many as 46 percent of companies doing business in the US are not SOX compliant.\u00a0 One might expect the gap to be due to the fact that SOX regulations are US-based.<\/p>\n

But even when looking at the European Basel II regulations, European companies are lagging.\u00a0 36 percent of European companies are not compliant while 17 percent of US companies doing business in Europe were not compliant.<\/p>\n

Hoefully the gap will close soon though.\u00a0 45 percent of European companies say that they’ve increased the amount of money that they’re allocating towards compliance measures. 40 percent of the companies say that they are increasing budget because there are continually new regulations being introduced.<\/p>\n

One problem though is that many European companies are addressing compliance with manual procedures rather than electronic systems.\u00a0 As many as half of the companies say that they do not have an electronic repository.\u00a0 And 75 percent said that their controls were a hybrid of electronic and manual systems.<\/p>\n

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Companies in Europe are behind American companies in how fast they’re adopting to the requirements of various Compliance measures.\u00a0 In the US, only 11 percent of large companies say that their firms still are not SOX compliant.\u00a0 Contrast that to…<\/span><\/p>\n

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<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10],"tags":[],"class_list":["post-713","post","type-post","status-publish","format-standard","hentry","category-compliance","category-content-management"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=713"}],"version-history":[{"count":0,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/713\/revisions"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}