How to Reduce Financial, Safety & Legal Risk
Enterprises, including factories and institutions of higher education, face growing regulations that are in place to ensure the safety of people and the environment, as well as protect investors. Compliance can require great amounts of time to document transactions, notifications, and follow-up.
The challenges grow as regulations evolve. Today’s litigious society places additional burdens on organizations to demonstrate that proper procedures are followed. From an environmental perspective, agencies want to ensure that hazardous materials are safely handled, by those that are trained to do so. Successfully managing these issues will ensure risks are minimized.
LLumin’s READYTrak will free up valuable resources, and allow a business to use those resources to expand into new markets, grow revenues, and improve customer satisfaction.
To minimize risk, facilities, plants, institutes of higher education and municipalities all need to be concerned about regulatory compliance. In terms of EHS ownership and oversight, it is becoming more and more critical to approach the tracking of hazardous materials and waste in a manner that incorporates a high level of technology into any solution..
This means a system that is cyber-secure, is easy to use, and yet enterprise ready and able to provide the asset tracking needed to ensure the safe operation of equipment and the safe and compliant handling of materials.
READYTrak accurately tracks and manages inventory, tools and equipment, including hazardous materials and waste. It automates notification and approval procedures. And it helps in demonstrating compliance by automatically creating the required documents and enforcing the workflows necessary to meet the requirements.
How Does READYTrak Help?
READYTrak can help avoid or minimize risks in the following ways:
- Ensure safety of personnel: READYTrak can help track materials, maintain equipment and enforce proper handling procedures to meet OSHA and FDA requirements
- Protect the environment: READYTrak can help track and manage materials to meet EPA requirements
- Safeguard investors: READYTrak can help track and manage transactions and work with existing financial systems to meet fiduciary responsibilities.
In this way, organizations can more easily comply with regulations and avoid legal, regulatory and financial exposure.