Anyone who has worked in legal or compliance for a direct selling company understands the incredible challenges presented online. As networkers increasingly use the Internet to promote their businesses, companies are at more risk every day from uncontrolled or unmonitored claims by the field, often to disastrous effect.
As a result, compliance officers continue to play the world’s largest game of whack-a-mole, retaining oversize compliance departments charged with constant Google searching, in hope of finding anything afoul of corporate and legal guidelines.
It is an expensive and largely manual process, requiring immense effort and resources to be able to “catch” and review all the mentions online. The tools often employed by companies are not capable of finding the real issues lurking in dark and distant corners of the Internet.
Compliance monitoring using sophisticated search, monitoring and management tools automates and improves the largely manual compliance processes most companies use to comply with government regulations and protect their brands.
Now you can encourage distributors to market themselves and their businesses and reduce the exposure of the company to trouble with regulators—while at the same time protecting your brand and lowering your risk profile.
With compliance monitoring, internal teams can shift from the manual tactical and low-skill work into higher level strategy, policy development and field communications which are the hallmark of the best compliance professionals.
With this new approach, sophisticated tools are used to find information posted online in many different channels (Facebook, twitter, blogs and videos, etc.) as well as the basic search results you may normally identify using multiple staff.
Many items and updates posted outside of compliance guidelines can be dealt with immediately, responding with pre-approved “in-compliance” resolutions or direct mid- to high-level issues to the correct person in your compliance department.
More than just brand or trademark monitoring, compliance-specific monitoring is crucial to your business.
Compliance monitoring easily identifies, scores and flags violations across most Internet properties and social media sites. The system:
- Flags problematic activity on an organization’s brand online.
- Seeks out mentions of the brand online with an extensive search that surpasses normal search engine activity.
- Provides for an immediate, quasi-automated response to medium- to low-level compliance issues.
- Catalogs all compliance-related incidents for easy review, follow up, investigation and enforcement.
- Demonstrates the company’s dedication to best practices in compliance. Should a regulator inquire into the company’s practices, it can claim the best compliance service and technology available.
- Establishes a “triage” process, which is completed in advance of alerting the internal team so that the riskiest violations are followed up.
- Immediately expedites serious issues to a company’s compliance team.
- Can dramatically reduce compliance costs.
- Frees up time for internal staff to investigate violations and take more care to communicate in a more professional, thorough and effective manner with the field, rather that the endless game of “whack-a-mole.”
- REDUCES RISK, saves money and enables a stronger happier sales force. And that’s why we’re here, right?
The staff at Momentum Factor has taken its numerous combined years of direct sales experience to develop the best risk solution for direct sellers. With our flagship product FieldWatch™, we assist in ensuring compliance throughout your entire field sales force in order to reduce overall exposure.
To learn more about compliance monitoring, read this white paper from Momentum Factor Founder & CEO Jonathan Gilliam.
And to find out how Momentum Factor can help protect your company through compliance monitoring with FieldWatch, contact our team today.
