By now, we are all familiar with the term “Compliance,” and we are aware of its importance for companies. We know that having a culture of compliance accredited through a “Compliance Model” can constitute an exemption or mitigation of the company’s criminal liability, a liability that can even reach its liquidation and closure.

Therefore, we will all agree that a solid Compliance strategy is essential to protect the interests of the company and ensure its long-term survival.

However, the compliance function has become more important over the years. The current level of demand no longer lies solely in complying to avoid sanctions and negative consequences but in acting ethically when doing business. A company with a strong ethical culture seeks not only to maximize its profits but also to act responsibly and respectfully towards all its stakeholders, including employees, customers, suppliers, shareholders, and society in general. Adopting an ethical culture creates trust among stakeholders and allows the company to build successful and long-lasting business relationships. Without ethics, no company is sustainable in the medium term.

The reputational benefit of acting ethically – “doing things right” – is increasingly tangible: There is a clear dividend behind doing things correctly. Ethical and compliant companies are perceived as reliable and responsible by customers, suppliers, employees, and society in general. This helps build a good reputation and increases the trust of stakeholders in the company. A good reputation is one of the most valuable assets for an organization and can be decisive for long-term success. The damage and reputational damage that non-compliance, a “scandal,” or even negative news in the press means for the company can affect its sales, business opportunities, and commercial alliances. Nobody wants to associate with someone they don’t trust.

Furthermore, business ethics becomes a critical factor in attracting and retaining talent, especially when people increasingly value social responsibility and the positive impact of companies on society.

If we look to the immediate future, ethics will play a crucial role in the era of Artificial Intelligence. Artificial intelligence will make many decisions, and ethics will act as a guide to ensure that these decisions respect the rights and values ​​imposed by society. In this way, compliance and ethics become a competitive differentiator, allowing companies to take advantage of the potential of artificial intelligence, guaranteeing their degree of reliability in the market.

Ultimately, as society demands greater transparency and accountability, the value of the compliance function in companies will continue to grow, and regulations will become more complex and demanding, requiring a much more proactive approach from companies.

Compliance team of Globalvia Madrid.