Chicago, IL; March 02, 2019 – ComplianceXL has signed a contract with a global leader in specialized musical instruments to perform compliance risk analysis, manage compliance documentation, supplier engagement and provide compliance training for various stakeholders across locations.
The client is a leading manufacturer of percussion instruments, mostly made of wood. Designed and built in the US, their instruments are handcrafted and known for its patented innovations that inspire passion and creativity with perfect sounds.
With this engagement, ComplianceXL will transform the compliance practices of the client by delivering superior supplier engagement and documentation processes, followed by dedicated training on global compliance regulations such as RoHS, REACH and Prop 65. The scope of this engagement includes risk analysis, training for internal stakeholders and suppliers, compliance documentation, and supplier engagement.
Risk Analysis – Examine in detail the current internal practices, analyze gaps in processes if any and establish a robust roadmap with recommendations to implement a risk-based compliance program by defining supplier code of conduct and risk mitigation strategy.
Training to all internal stakeholders – Provide training to internal stakeholders on the requirements of the global compliance regulations and provide guidance on how being compliant helps them expand market footprint globally.
Supplier Training and Engagement – Provide training to suppliers on accurate compliance reporting, documentation and align them with the new Supplier Code of Conduct. Create a robust engagement program to ensure all suppliers provide accurate and up-to-date compliance information.
Compliance Documentation – Collect declarations & Certificates of Compliance, validate declarations and exemption clauses and integrate compliance data into client’s ERP system, for easy access to the data.
“ComplianceXL understands that in today's dynamic environment, compliance needs, company liabilities and the marketplace are constantly evolving. By gaining control over material compliance regulations, the client really expands their ability to enter new markets, as well as achieve leadership in existing markets they operate in. Having a forward looking compliance program ensures that companies are managing their risks well and not exposing themselves to avoidable penalties and issues.” says Kiran Sivadas, EVP, ComplianceXL.
Under the terms of the contract, ComplianceXL will allocate a Compliance Solutions expert supported by a team of compliance experts and a multilingual supplier engagement team.