In today’s rigorous regulatory climate, it is essential that a company’s employees understand and adhere to the laws and regulations that apply to your business operations. Corporate Compliance refers to the methods and activities used to help ensure this and includes the development, implementation, management, and tracking of the necessary procedures and practices. An effective Corporate Compliance program will help to guard against legal violations and ensure your employees have the training they need regarding the rules and regulations that can impact their work.
External vs. Internal Corporate Compliance
Corporate Compliance is often divided into two types of compliance requirements.
External compliance refers to the policies and procedures a company puts in place to help ensure compliance with state and federal laws. Also referred to as Regulatory Compliance, they can include such things as the management and reporting of financial records, as well as the company’s efforts to protect and maintain privacy around customer data.
Internal compliance refers to the policies and procedures a company puts in place to set and maintain standards of quality and behavior. Also referred to as HR Compliance, this can include business ethics and other strategies that can impact the work environment.
The Goal of a Corporate Compliance Program
Simply put, a Corporate Compliance program is put in place to protect your business. But when implemented properly, it can bring a significant return-on-investment (ROI) by helping to eliminate waste and fraud along with discriminatory and abusive practices that can be disruptive to your business operations and expose your company to unwanted risk.
Achieving Corporate Compliance goals is largely about creating employee awareness regarding regulations, policies, and standards and providing the training required to help ensure your employees operate within these guidelines.
eLearning for Corporate Compliance
eLearning refers to the use of electronic technologies (the Internet, primarily) to drive any type of learning program. Over the past decade or so, as SaaS-based technologies have continued to evolve and workforces have become increasingly remote, more and more companies are leveraging eLearning-based programs for all types of employee training and development, including Corporate Compliance training.
The core technology that supports an eLearning program is a Learning Management System (LMS). An LMS is the application that is used to build, deliver, manage, and track an eLearning-based compliance training program. And while some companies choose to “stand up” an LMS on their own servers (known as on-premises deployment) most companies today choose to work with a third-party SaaS LMS provider to access the features and capacity they need for the training program.
LMS Portals: SaaS-Based Software to Manage Corporate Compliance
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant LMS that allows an administrator to launch and manage a dedicated eLearning environment (portal) for each of your unique audiences. Each portal you launch includes a powerful course development engine, along with robust tools for user onboarding, group management, learning path creation, live remote training, certificate awarding, analytics, and more.
We also offer a library of 140+ ready-made courses, covering most every aspect of corporate training and employee development. Our library includes several courses that you can utilize as part of your Corporate Compliance training program, including: