The Importance of regulatory compliance
The reputation of a long-standing brand can collapse even if a tiny part of a product fails global regulatory tests. Compliance is as important for a product’s viability as competitive pricing and precise marketing.
For instance, a manufacturer’s failure to track hazardous substances in a product in their offering or ensure supply chain compliance has led to product recalls and eventual loss of face. Recent examples of these included products ranging from a small foldable fan to expensive automobiles.
Global regulations are designed to value consumer safety and hence are stringent with hefty penalties. The EPA regulations of USA levy up to $50,000 per day of violation while the European Union’s REACH certification fines up to 100,000 Euro.
Apart from financial loss, here are some consequences of non-compliance of regulations:
⚖️ Penalties and lawsuits
💸 Financial loss from recall of products
📉 Damage to reputation and future prospects
🔗 Collateral damage to suppliers, manufacturers
Challenges in Managing Product Compliance
Complying with multiple global regulations can be a headache for manufacturers as it takes away time and energies better utilised on research, development and marketing a new product.
Manufacturers targeting a global reach for their product must account for differing compliance standards in multiple countries. This can create complications in case of single supplier, in case the chemical composition of a raw material is compliant in one country, but banned by another.
Here are some other common challenges in ensuring product compliance:
- Complexity and volume of data
- Comprehensive documentation
- Resource constraints
- Keeping track of evolving regulations
- Achieving foolproof system
Why GreenCheck is the ideal solution for simple and effective product chemical compliance
GreenCheck is a comprehensive cloud-based compliance management software tailored to streamline and automate the regulatory process, which acts as a one-stop solution for all your compliance needs. The software has versatile features like interactive dashboards to help in quick decision-making thereby freeing up valuable time, money, and resources for the leadership to focus on other core activities.
GreenCheck comes with a proven track record of helping top global companies across more than 12 industries manage various compliance requirements of multiple regulations like REACH, ROHS and SCIP by automating tasks in risk assessment, compliance management and reporting.
It is backed by a human interface of more than 100 engineers experienced in compliance with material science and chemical engineering who have offered solutions to multiple OEMs and 130 suppliers.
Why GreenCheck is ideal solution for effective product chemical compliance
☁️Cloud-based SAAS model tailored to streamline and automate regulatory process
⚠️Efficient handling of risk-assessment
✅Seamless management of compliance
🌍Proven track record of helping top global organisations
👨💼Backed by experienced and trained human resources available 24x7
Here’s how GreenCheck makes regulatory compliance a breeze
GreenCheck processes relevant data and displays all pertinent points, red flags and solutions for regulatory compliance on a single page.
Its centralized data management provides a single platform to manage supplier data, material information and track progress, eliminating the requirement to search multiple documents.
Available as a SAAS model, GreenCheck collates all product chemical regulations like REACH, ROHS, SCIP and IMDS on a single dashboard with the on-date compliance status. Its risk assessment tools help to proactively identify and mitigate potential compliance issues enabling firms in error-free reporting by sticking to deadlines of regulatory processes.
Game-changing features of GreenCheck
✉️ Send automated emails and reminders to suppliers asking for product chemical information with continuous tracking of these communications
📤 Suppliers can upload declaration letters or full material declarations
🔒 Suppliers can avoid revealing proprietary chemical data by getting a declaration to ensure compliance
📊 Customers can view all the compliance status such as REACH, RoHS, PFAS, Prop65, TSCA etc., for all supplier, in-house parts and assemblies
🧾 Comprehensive Bill of Materials (BOM) analysis which helps in improving supply chain efficiency
📥 Drop-down option to input or import relevant data with continuous updating of regulations on the backend
🔗 Connect with your firm’s in-house application to use GreenCheck’s entire database
📁 Readymade information on existing and new suppliers to help take quick strategic decisions
📄 Generate custom-made declaration reports for suppliers in a few seconds
⚙️ If the desired regulation is not present, then customise your own questions, CAS numbers of the regulation and check material compliance
Evaluating chemical compliance to adhere to multiple global regulations can be overwhelming given the scale of data to be processed. However, a one-stop SAAS based solution like GreenCheck with comprehensive features can make regulatory compliance a walk in the park, free you of the worry about legal ramifications of non-compliance and help optimal utilisation of resources, time, and money.
Reach out to our regulation experts on chemical and product regulatory compliances