Definition - What does Compliance Management Solutions mean?
The term compliance management solutions (CMS) refers to the tools, processes, and systems an organization implements to ensure that the entity is in compliance with various government regulations.
SureHire explains Compliance Management Solutions
Regulations such as those promulgated by the Department of Labor, the Securities and Exchange Commission, and the Federal Drug Administration as well as state and local laws require businesses to maintain compliance and to keep records of their activities.
Often a third-party is tasked with providing the tools and expertise to track an organization's compliance with the various laws to which it is subject. These vendors may offer software, consultation, training, physical storage facilities, continuous monitoring or other services. For example, an employer may employ a safety training expert to implement required workplace safety training for the organization's employees.
Collectively, the products and services provided by these entities are referred to as compliance management solutions.
