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What is disruption all about?

It is about moving fast, breaking barriers and boom! Innovation!

There comes a Unicorn- a rare disruptive idea. It is a major buzzword in all industries.

Compliance-innovation

 

Yet, disruption isn’t the answer to all problems! When you compare it to a disruptive and a naughty kid in school who always broke the rules. This kid prefers to sit on the last bench. But, to grow one cannot afford to be like this kid sitting at the “back of the classroom”. One needs to be right up there- in the “Front Row”- Always learning and evolving.

When you have a deep understanding of the standards, rules and regulations of the environment you work in, you can see what’s missing. Thus, this will help you see how to put things back together. And in industries where human lives are at stake — like health care — it’s not only important, it’s our duty as human beings.

How to disrupt the disruption?

Disruption | noun | disˈrəpSH(ə)n – From the Latin ” disruptionem,” which means “a breaking asunder.” To break into pieces, shatter.

Avoiding a law or statute to get your product/service in place might seem like a great move in the short term. But if this service is a matter of life and death(healthcare), it’s not going to be a child’s play. These days, industries are tightly regulated. Also, the clutter is increasing. To avoid this, companies hold disruption as an excuse for closing your eyes to the prevalent law.

Technology should be used to enable a company to solve a certain problem rather than enable non-compliance.

Compliance? How does it affect innovation?

Compliance | noun | kəmˈplīəns
From the Old French ” complir,” meaning “to fulfill, accomplish, carry out.”

In the end, one gets a good sleep at night only if the conscience is clear. Following the law is like getting a neat stack of grades on your report card. Frankly speaking, compliance and good governance should make you to do the impossible for your customers.

Many great companies see statutes and standards not as a hindrance, but as “an opportunity to create a great company.”

Why does this matter so much?

When an organization is mission-driven, one has to take the idea of governance seriously. E.g. Who would you trust? A compliant wealth management company or a non-compliant one? Wealth Managers are confidantes and personal advisors. They help people to elucidate one of the most important decisions they’ll ever have to make: how to care for themselves and their families by investing the right way.

How about a doctor? A general assumption is that the doctor’s degree is authentic and he an expert in their field.
Why? Because your life depended on it. Shouldn’t that expectation be the same throughout the industry?
The laws and guidelines are in place to protect the consumers and to regulate the industry.

VComply

A consumer always expects to be served by an expert who can deliver the best in class solution. If a hospital leaks your medical history as it is HIPAA non-compliant, that’s not okay! The patient deserves more! VComply is a GRC management tool. It offers a wide range of services on a single integrated platform.

For disruption to exist, the value system has to be strong. It is the foundation we need to hold everything together, and eventually, find where we can push for change. Because when you stop disrupting and start complying, that’s when the real revolution begins.

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