The Paradigm of What a Contemporary Mega-Company Should Look Like

Ismail’s book covers a variety of topics related to outsourcing, one of which is how EXOS (Exponential Organizations) gain a competitive advantage by gaining access to, renting, or sharing assets rather than owning them. This makes EXOS more nimble and agile and provides them with a significant head start over other businesses. Software and many other digital resources are examples of one of the sorts of outsourced assets that truly make up the second side of his equation

Ismail makes mentions the 5 Ps of Big Data throughout his lecture, which are areas in which data gathering and analysis have the potential to significantly improve an organization’s performance and efficiency:

1. Productivity
2. Prevention
3. Participation
4. Personalization
5. Prediction

The findings based on years of data and feedback were outstanding. Given our firm, we applied these principles to the field of compliance to see how they may affect compliance management positively to help a business exponentially develop, and we found that the results were quite encouraging.

The 5 Principles of Proper Compliance Management

Compliance management Checkpoint is a classic example of how software may boost efficiency and productivity in an organization. It enables scalability, automation, and other capabilities across the organization, and it can even be extended to partners and other stakeholders. We established benefits associated with each “P” in Ismail’s book based on the input we received from customers over 20 years.

1. Productivity

Automation of compliance auditing and monitoring tasks leads to increased productivity and lower costs. This is one of the benefits of end-to-end compliance management software.

2. Prevention

Prevention is achieved by activities like routine compliance checks, audits, inspections, and assessments. These activities help to reduce risk exposure in a variety of domains, including quality control and product safety.

3. Participation

Scalable software makes it possible for an organization to involve any enterprise stakeholders, members of the supply chain, or contractors in the compliance process. Additionally, the organization can utilize tools such as self-assessment capability for collaboration purposes and more.

4. Personalization

Personalization is adapting compliance questionnaires to the needs of a customer. This ensures that the compliance data collected is genuinely valuable to the organization.

5. Prediction

Collecting and analyzing compliance data over time helps organizations foresee where risk rests and avoid future disruptions via proactive risk mitigation. This is made possible by the fact that compliance data can be tracked over time.

It is not something that “would be wonderful” for a company to become an exponential organization. It is necessary for long-term survival in today’s ultra-competitive climate, which makes it a requirement (although, according to the book written by Ismail, “long-term” may now mean no more than 15 years or so). And the adoption of technology and digital solutions that will enable you to apply the 5 Ps to as many aspects of your company as possible is the key to accomplishing that transition, which is why it is the most important step.

Because compliance is both a regulatory requirement and an all-encompassing practice that can assist in improving a variety of other aspects of your organization, adopting a software solution such as Compliance Checkpoint is an excellent way to bring your organization one step closer to achieving the status of an EXO.