That’s fake news. Real news COSTS. Please turn off your ad blocker for our web site.
Our PROMISE: Our ads will never cover up content.
Quality Digest
Published: Tuesday, March 22, 2005 - 23:00 The study found that compliance to Food and Drug Administration requirements cost regulated companies $1 billion, HIPPA regulations cost $3.6 billion and Sarbanes-Oxley compliance cost regulated companies $6.1 billion, making it the most expensive compliance item. The study also revealed that companies are rethinking how to fund compliance initiatives. Respondents indicated that in 2004, 35 percent of them had specific budgets for compliance, but almost two-thirds of them had to pull from other areas to fund the projects. More companies (40%) indicated that they have compliance budgets for 2005. “Compliance is an all-encompassing set of activities that cross business and IT groups,” says John Hagerty, vice president of research at AMR Research. “Companies that see the big picture will put these mandates to work for them and use them as a catalyst to improve or even rethink many parts of their organizations.” For more information, visit www.amrresearch.com. Quality Digest does not charge readers for its content. We believe that industry news is important for you to do your job, and Quality Digest supports businesses of all types. However, someone has to pay for this content. And that’s where advertising comes in. Most people consider ads a nuisance, but they do serve a useful function besides allowing media companies to stay afloat. They keep you aware of new products and services relevant to your industry. All ads in Quality Digest apply directly to products and services that most of our readers need. You won’t see automobile or health supplement ads. So please consider turning off your ad blocker for our site. Thanks, For 40 years Quality Digest has been the go-to source for all things quality. Our newsletter, Quality Digest, shares expert commentary and relevant industry resources to assist our readers in their quest for continuous improvement. Our website includes every column and article from the newsletter since May 2009 as well as back issues of Quality Digest magazine to August 1995. We are committed to promoting a view wherein quality is not a niche, but an integral part of every phase of manufacturing and services.Compliance Costs Estimated at $80 Billion
AMR Research recently released a study that predicts that the cost of compliance for companies will reach $80 billion over the next five years. The firm also estimates that regulated organizations will spend close to $15.5 million on compliance-related activities in 2005. Although an average company will spend approximately $500,000, leading business are using the results as an opportunity to identify and transform business areas in need of improvement.
Our PROMISE: Quality Digest only displays static ads that never overlay or cover up content. They never get in your way. They are there for you to read, or not.
Quality Digest Discuss
About The Author
Quality Digest
© 2022 Quality Digest. Copyright on content held by Quality Digest or by individual authors. Contact Quality Digest for reprint information.
“Quality Digest" is a trademark owned by Quality Circle Institute, Inc.