It’s crucial for companies to stay on top of regulatory requirements to avoid non-compliance. Deel’s powerful Compliance Monitor provides real-time compliance monitoring that uses automation to keep track of the ever-evolving regulatory landscape across 150 countries. This includes updates to areas such as wages, pensions, private insurance, leave policies, tax obligations, and more.
Moreover, Deel’s compliance monitor provides concise summaries of the impact on your business in plain language, making internal audits and risk assessments easier and saving your HR and compliance departments hundreds of hours that would otherwise have been spent on compliance tracking.
Say goodbye to compliance checklists and say hello to:
- Efficient audit management
- Streamlined compliance tasks
- Clear audit trails
- Comprehensive compliance reporting
- Proactive incident management
- Faster issue remediation
- Effective risk management and mitigation
What problem does Deel’s Compliance Monitor solve?
Evolving labor laws and regulations can quickly lead to workforce non-compliance, which can be costly for companies. In 2022, there were over 61,000 regulatory events across nearly 200 countries. That’s an average of 234 daily alerts, highlighting the need for companies to stay updated on new regulations.
While governments and regulatory bodies try their best to announce these changes early and provide transitional periods to give companies time to implement, it’s easy for compliance teams to overlook them, resulting in millions of dollars of legal fees and penalties, not to mention the hard-to-quantify cost of reputation damage caused by the compliance issues.
How does the Compliance Monitor work?
Deel’s user-friendly, cloud-based dashboard allows you to easily view and set up compliance notifications for all countries in which you conduct business. You can quickly filter regulatory changes by country, date, and category, making it simple to stay up-to-date with the latest compliance requirements.
Deel’s Compliance Hub comprises a range of powerful AI-powered compliance management tools, each designed to help businesses stay on top of regulatory obligations. In addition to the Compliance Monitor, Deel offers the following:
- Worker Classifier to accurately assign employment status
- Workforce Insight Reports to alert you to international labor law and regulation non-compliance
- AI Assistant to get answers to your global hiring questions
Deel's Compliance Hub keeps you ahead in the ever-evolving world of global regulations. We actively monitor your workforce and update you on the latest legal changes so you can hire and manage with confidence.
How does the software tool integrate with Deel’s other platform features?
You can use Deel’s other key features to streamline the following:
- Compliant global hiring without an entity with Deel EOR
- Compliant international contractor hiring with Deel Shield
- Contract localization with Deel’s contract generation workflow
- Benefits administration
- Background checks
- Compliance management
- Equipment management
- Equity management
- Visa and immigration support
- Global payroll
💡Deel’s platform infrastructure is built on the globally recognized framework, ISO 27001, and is SOC2 compliant for enhanced cybersecurity.
Unlock continuous compliance with Deel
Staying ahead of compliance trends is crucial for maintaining a competitive edge. In 2024, these trends are likely to emphasize the importance of technology in compliance solutions.
Deel’s compliance management solution centralizes your company’s compliance activities to reduce corporate compliance risks and vulnerabilities. You can automate your compliance process and bolster existing compliance programs without having to build compliance departments, conduct extensive compliance training, or outsource compliance to external providers.
Sit back while the compliance management system proactively monitors, flags, and delivers regulatory content and compliance insights impacting your business.
Ready to put corporate compliance on autopilot? Book a call with a compliance expert to see how Deel’s software solution can take more risk off your plate than any other provider.
