Productivity improvements related to the capture of obligation statements, controls assurance, maintenance and testing were achieved within the compliance team. A significant reduction in non-compliance events, a decrease in penalties from compliance breaches and associated customer remediation costs are expected as a result are expected over time.
Other expected benefits include substantial decreases in external costs, including legal, professional services and consulting fees. The company has estimated that it will achieve a total net benefit of US$20.8m to US$38.8m over a span of three financial years once the solution is rolled out to all obligation areas as a result of these improved capabilities.
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