Empowering Success : Navigating the Impact of Regulatory Compliance Software on Service Process

Abstract

This CMS aims to address critical gaps in the current Compliance Management Process through the development of an innovative Compliance Management System (CMS). Employing a hybrid methodology that combines qualitative and quantitative approaches, it will gather insights from key stakeholders, including regulatory authorities and business executives, through interviews and focus groups. The qualitative data will be complemented by quantitative information collected via surveys and data analytics, providing a comprehensive understanding of compliance trends and software efficacy. The chosen mixed-methods strategy is fortified by a stratified random sampling technique to ensure a representative and diverse dataset. Identified gaps, including human error, inefficiencies, and limited real-time visibility, underscore the need for a centralized, digitized, and user-friendly CMS. The Software Development Life Cycle, following the Scrum methodology, outlines a detailed plan of action, adhering to the allocated budget of 10 million PKR. The iterative and flexible nature of the Scrum framework ensures the development of a high-quality CMS, addressing the complexities of regulatory compliance and contributing to a more efficient and accountable corporate landscape.