Compliance with regulations is very important to ensure that companies do not get caught up in legal, ethical, and moral problems. It may include compliance with laws, specific regulations, guidelines, and standards that govern the operations of the company in question. However, compliance cannot be monitored and implemented manually due to the large number of items that must be complied with.

The items that must be complied with can number in the hundreds or even thousands with updates here and there occurring every year or every few years.

Compliance software is indispensable

Compliance software is indispensable and today more and more companies rely on intelligent software to comply with applicable regulations, laws, and standards. As a result, they (who use compliance software) tend to be better at protecting themselves from the risks of breaching obligations.

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Today if you type a few keywords relevant to compliance software in Google and press the ‘Search’ button, you will be shown many sites that provide compliance software. They (these sites) are representatives of compliance software development companies in cyberspace. The question now is how do you find suitable software? Or in other words, software that suits your needs?

The importance of regulatory libraries for compliance software

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There are many criteria that can be used to assess which software suits your company’s needs but one thing is for sure, the regulatory library is what you should look at first! Why?

Because the regulatory library represents the amount of data accommodated by a software. If the library is incomplete, you can be sure that the software it supports will not be able to help your company when dealing with specific items. There are many external obligation items that must be complied with by a company and these items may be updated regularly every year or every few years. So it can be concluded that a complete regulatory library is an indication of reliable compliance software.

Where can you find a complete regulatory library?

Basically finding a complete regulatory library is the same as finding reliable compliance software. We have researched various compliance software and found that the one offered by Nimonik Inc. is the best. If you are looking for a complete regulatory library, we can assure you that the best option available to you is the Nimonik regulatory library which is developed and regularly updated by Nimonik experts. For your information, Nimonik Inc. is a compliance software development company based in Canada and has many top clients such as Coca-Cola, Bayer, Adidas, and Caterpillar.

What to know about the Nimonik regulatory library

Nimonik’s regulatory library is the most complete (compared to other similar libraries) because it includes up to half a million documents from more than 30 countries and 342 jurisdictions. Not only is it super complete, but Nimonik ensures that sorting and searching for relevant documents is very easy, even for laypeople.

What about obligations and requirements (CLCO)? Nimonik allows each user to activate CLCO in their language. There are many official languages supported by Nimonik compliance software.

Bulk document addition is also possible. They can even be added to several COs simultaneously. And also each user can use several filters when searching for documents in the library. That means searches can be much faster.

Identification of the document issuing authority is also carried out automatically. In this way, each user can confirm whether a document is affiliated with a particular authority. This identification feature minimizes document retrieval errors.

And finally customization of monthly document emails by selecting the right preferred jurisdiction. This feature ensures monthly document delivery is on target and well coordinated.

Conclusion

The regulatory library is an indication of the quality of compliance software and related to that, Nimonik provides the most complete regulatory library which can mean that Nimonik’s compliance software is one of the best.