Can compliance be a competitive advantage?

 

Sales representatives often think of compliance as the 300 lb elephant hiding behind any corner of a physicians office.  It's rare to see employees embrace compliance as a sales tool or at the minimum a testament to the commitment their organization has to ethical business conduct.  In the field, sales personnel are faced with a number of challenging ethical decisions to make on a daily basis.  One of the many challenges that is often faced is the ability for customers to suggest or in worst case scenarios, they employee suggests, utilizing company finances to induce specific behavior.

These situations are particularly tricky because each individual occasion requires a solid ethical foundation for every field sales representative to posess.  Though we often want to believe in the goodness and just nature of everyone we hire, the reality is that no one is perfect!  At some point or another an employee could add names to a report, order for more participants than there are in attendance of a specific event, or in rare circumstances completely fabricate a customer interaction all together. This is a problem that falls under the "little and often" rationale for fraud.  The idea that a "little here" and a "little there" will never be noticed.  Or in a more bold fraudsters rationale " I know they won't ever know who's here and who's not, so they can't catch me". So maintaining a strong ethical constitution can be challenging when the frequency of temptation is daily and the punitive actions are enforced rarely.

That's the challenge from the employee perspective, and now for the challenge for employers.  The most obvious challenge is that the fraudsters are right!  It's nearly impossible to know or verify all the demographics surrounding customer engagements.  The man power required to audit every event to ensure all details are reported accurately is unrealistic.  There are simply too many representatives and too many events *(breakfasts, lunches, dinners, and speaker events) for any organization to accurately monitor and verify. Until now!  Our mission at Validu was to provide a Mobile Event Managment powerful enough to verifying accurately document ever customer engagement!

But why stop there, could compliance actually be used as a competitive advantage?  Could the fact that your organization is going to great visible lengths to ensure that the environment in which their employee operate remains fraud free? Could it be argued that life science organizations who adopt systems like Validu could be going the extra mile to ensure accuracy in CMS Open Payments data to protect themselves and healthcare providers?  We argue YES! If you're competing with an unethical opponent, showing how your culture is driven by character and governed by compliance (in the field everyday) you could have a positional advantage.  This argument may not hold true for those customers who operate and promote unethical practices, but ask yourself if you would even want to do business with them with that knowledge.  Seeking out and adopting new compliance solutions and utilizing technology to excel where man power falls short should be encouraged not feared! And the pursuit of such compliance standards should play a larger role in establishing business relationships.

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