We’ve said it before, but it bears repeating. Firms that wish to set themselves up for future growth should look to implement the changes that may be needed for the upcoming regulatory rules like the Dodd-Frank Act now, not later.
Not only do firms need to beef up their compliance processes and systems, they also need to include the IT department in the planning and assessing of the technology capability for supporting such changes. Not including IT may leave firms with a strategy that their technology may not support, which will only pose threats and problems. So, evaluate your technology and include IT in the planning process to avoid any unnecessary headaches. Implement changes now to stay ahead and be prepared when the time comes to comply.