The IT and telecom markets continue to grow globally, fuelled by the growth in personal and enterprise computing and the proliferation of mobile communications devices.
In this competitive and highly concentrated industry, companies face intense price competition and growing demands by shareholders to fulfill expectations around earnings. In turn, pressures drive strategies for faster time to market, supply chain optimization, and merger opportunities.
To support the supply chain velocity needed, companies are continually integrating and synchronizing their value chain. This ability to synchronize global flows, manage complex webs of outsourced relationships, and the volatile environment of government regulations, maximizes profits in an environment of continually declining price points and risk of inventory obsolescence.
For most companies, new levels of accountability from both regulatory requirements and stakeholder demands have elevated concerns that effective, robust and reliable compliance processes are in place and being utilized. This is of particular importance to companies with goods subject to ITAR or EAR regulatory requirements.
The companies that can pull it off are the ones that are in command of every aspect of their business—from high-profile innovation to the fundamentals of operations.
Effective controls don't just help a company reduce business risk; they also:
- Reduce regulatory risk
- Provide financial-reporting benefits
- Provide operational benefits
- Can lower borrowing and financing costs
- Can help attract new business partners and buyers