Contract management is a crucial aspect of state and local government operations for procurement, service delivery, and ongoing vendor performance oversight. Effective contract management is essential to ensure that taxpayer dollars are spent wisely and that goods and services are delivered efficiently and effectively.

Image by vectorjuice on Freepik In today's digital economy, enterprises have to strike the right balance between gaining application and user insights and safeguarding data privacy. With Choreo's feature that derives direct log insights and observability from data planes, organizations can now prioritize enterprise compliance while delivering essential functionality.

IFRS 17, an International Financial Reporting Standard promulgated by the International Accounting Standards Board, supersedes IFRS 4 regarding insurance contract accounting. Its effective date is January 1, 2023. IFRS 17 introduces a comprehensive revamp of the treatment of insurance contracts, entailing novel prerequisites for data, systems, and procedures that impact various departments within the organization, such as Investment, Actuarial, Accounting, Finance, and IT.

Technology is an indispensable ally for navigating process compliance challenges with confidence. That’s because as digitization expands and regulatory requirements change, process compliance becomes more and more difficult to address manually. In this blog post, we’ll examine common process compliance challenges and how technology can help solve them. The most significant challenges for process compliance are manual and paper-based systems.

Consumer privacy has increasingly become important for businesses and individuals alike. As data is becoming more and more widespread, people are more worried about where their data is going, how it’s being used, and how it’s facilitated. This has made data security paramount and front-of-mind for many organizations.

ISO 9001 gives specific requirements and criteria for an organization's quality management system (QMS). It is a broad, international standard that is used by any type of organization of any size. The most recent version of ISO 9001 was released in 2015 and aims to help companies improve customer experience, meet regulatory requirements, manage supplier and partner relationships, and achieve continual company success.

The first quarter of 2023 was quite a rollercoaster ride for the banking industry, marked by not one but two of the largest bank failures in U.S. history. As a result, regional banks took a hit as well, losing nearly $200 billion in deposits in just one week, according to the Federal Reserve. Because regional and smaller banks in the U.S. make up over a third of total bank lending, any pullback in credit provisioning could undermine financial stability and growth. The bottom line?

Welcome, software testers and compliance geeks! Today we’ll look into Compliance testing, which can sound like a dry and daunting task, but we will make this fun. Consider yourself a software tester who has just been set with verifying that your company’s latest application complies with all the necessary regulations and standards. This might be intimidating, but don’t worry; we’ve got your back.

Compliance is a core tenet of financial services organizations’ day-to-day operations. And the stakes are high, as regulatory fines are steep and climbing. Know Your Customer (KYC) compliance is just a piece of the overall compliance puzzle—but it’s an important piece. In 2022, global fines for failing to prevent money laundering and other financial crime surged more than 50% according to the Financial Times.