Despite their appeal, when it comes to compliance tools, less is more! Tune in to today’s episode to hear why, and also to get some advice on the types of questions you should be asking any compliance vendor you are considering hiring. 

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Today’s episode:

• [02:06] Why compliance tools often produce inconsistent data.
• [03:40] Do fewer checks!
• [06:48] The mindset that you should adopt when you enter into negotiations with a compliance vendor.
• [07:18] Why you should find out how long a compliance vendor has been in business and who their customers are before you hire them.
• [08:21] Statistics that you should ask for when interviewing compliance vendors. 
• [09:02] When you should negotiate a fixed fee arrangement with a compliance vendor.
• [09:49] The importance of understanding how a compliance vendor generates red flag signals. 
• [10:39] Why you should always find out if a compliance vendor is utilizing their own technology or somebody else’s.
• [12:00] Reasons to always test the interface, rather than relying on the demo.
• [15:03] Final words of advice: no tool is perfect, and less is more! 

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