Compliance – the process of meeting regulatory requirements – can be cumbersome and costly. Often perceived as non-value added, the activities required to maintain and demonstrate compliance can lead a company to add personnel, create new processes and build elaborate control systems.
In the end, however, if a company is to operate within the law, compliance is not optional.
With the potential for escalating bureaucracy, some companies have found Six Sigma to be helpful in making regulatory compliance more efficient. Other companies do not think Six Sigma is applicable to managing or improving the compliance process.
This survey explores the extent to which Six Sigma is being applied in compliance efforts and the effects associated with it.
- 1,046: Number of total survey respondents
- 12: Percent of respondents who reported that the full Six Sigma methodology is utilized in the compliance process at their company.
- 29:Percent of respondents who reported that Six Sigma is not utilized at all in the compliance process at their company.
- 55:Percent of respondents who said they are confident their company is satisfactorily meeting required regulations.
- 86: Percent of respondents from companies that use the full Six Sigma methodology in the compliance process who reported that they have confidence their company is meeting required regulations.
- 54:Percent of respondents who said their company’s compliance process is well documented.
- 31: Percent of respondents who cited “Six Sigma is applied to all areas of business” as the primary reason why Six Sigma is used in the compliance process at their company.
- 43: Percent of respondents who reported that their company must meet the requirements of the Sarbanes-Oxley Act (SOX).
- 65: Percent of respondents who said that process mapping is a commonly used tool in the compliance process at their company.