Powering Regulatory Compliance - Teamcenter 2005 Helps Achieve Compliance and Mitigate Risk
Companies will spend $15 billion this year, and $80 billion between now and 2009 on regulatory compliance. SOX, 5015.2, ELV, WEEE, RoHS, ITAR... making sense of this is costly, but failure can cost even more.
Organizations of all sizes need a strategy to achieve compliance and mitigate risk. Investment in an effective IT infrastructure is a critical component to manage all the information necessary to support compliance. Teamcenter® 2005 software offers the ideal infrastructure to support the data and processes required to achieve regulatory compliance.
Regulatory compliance is not a simple matter of assigning a project and waiting for results - it is an institutionalized process that every employee needs to support. Often, the responsibility can be overwhelming... new regulations and deadlines, revised corporate policies, new roles and responsibilities, comprehensive reviews and audits, and record-keeping and preservation. Without an automated system, it is too much to expect individual employees to understand how to navigate the complex maze of regulatory requirements and determine where a regulation applies to them. Especially when it comes to making the right product decision to ensure compliance and manage risk.
Teamcenter 2005 provides the three key components to support regulatory compliance:
- Enterprise awareness and ownership of compliance.
- Process visibility and integrity throughout the product lifecycle.
- Knowledge repository to manage information, including access and retrieval.
Enterprise awareness and ownership: Create a culture of responsibility and accountability
If you look at compliance as a living process, and employees as ongoing participants in that process, Teamcenter allows you to structure your systems and workflow to empower employees to support compliance in their daily tasks. It all starts with the regulatory requirements - and integrating those requirements into the product definition as it evolves through the lifecycle. This allows every employee to understand requirements, fostering enterprise awareness and accountability. Not only executives, but everyone else in the enterprise owns a piece of compliance - it begins by understanding that responsibility.
Process visibility and integrity: Empower employees to respond to regulatory issues
Once regulatory requirements are understood, the next step is empowering employees to respond to gaps and exposures quickly, and cost-effectively. Teamcenter enables enterprise-wide process automation, ensuring a common, consistent approach to the processes that drive your business. People have visibility to the product in any stage of the lifecycle, empowering them to identify and respond to regulatory issues on a continual basis.
Management of information: Provide access to the right information at the right time
Fundamental to any regulatory compliance is basic document and record retention. Teamcenter provides the information management infrastructure to provide the right information to the right people at the right time - offering a secure foundation to allow your company to directly enforce and validate regulatory compliance during every phase of the product lifecycle. Teamcenter's information repository also maintains the audit trail necessary to demonstrate and prove compliance to regulatory agencies and auditors.
Every industry faces a unique set of regulatory requirements and agencies. To find out how UGS can help your company achieve regulatory compliance, ask your UGS sales representative for details and read the "Powering regulatory compliance" executive brief.
