Apart from the ongoing global economic meltdown the other fact that countries worldwide are worrying about is the steep increase in fraudulent corporate
practices. This has necessitated the intervention of government and legal authorities seeking to enforce stringent and stricter regulatory mechanisms to monitor the corporate governance framework in place in all organizations. Thus it is becoming increasingly critical for Banks and other financial institutions to comply with these regulatory mandates.

• Traditionally, homegrown systems, stand-alone applications, or even manual paper-based systems have been used to manage compliance needs
• With a constant increase in compliance initiatives, multiple and disparate solutions lead to duplicative, and often contradictory, processes and documentation
• Such environments do not provide clear visibility into the organizations' risk and compliance profile, bring down efficiency, and escalate the risk of non-compliance

• Consistent compliance and controls across the enterprise eliminating any deviations and errors as well as redundancyAutomated information flows, assessments and testing, and
  remediation assignments reduce over all compliance costs
• Streamlined controls management, enabling process owners to take direct responsibility for managing controls while auditors can focus on key compliance risks and project oversight
• Help in creating compliance dashboards, provide enterprise-wide visibility into the compliance management systems and highlight issues that need to be addressed
• Create and support integrated document management with change control capabilities keeps compliance documentation and business processes in sync.