We’re now the trusted market access technology provider for the world’s leading brands: Joe Skulski (of Compliance and Risks) said while interacting with The Silicon Review

“As the leader in market access and product compliance solutions, we have the right technology, regulatory content, and expertise to help organizations unlock market access, and protect and grow their revenue.”

Compliance and Risks is a leading market access and product compliance firm. It helps ensure organizations have the latest information to build safe, sustainable products in a world full of change. The company serves clients from around the world.

Compliance and Risks is headquartered in Cork, Ireland.

The Silicon reached out to Joe Skulski, who’s the Chief Executive Officer of Compliance & Risks, and here’s what he had to say. 

Interview Highlights

Q. How did the idea of Compliance & Risks originate? And please brief us about the history so far.

Founded in 2002, Compliance & Risks was built on the simple premise that there was a better way for global companies to assess the risks and opportunities in changing product regulation.

Our enterprise-grade technology platform, C2P, originated as the enabler for global organizations to accelerate their compliance journey by providing all the tools necessary to navigate the world of compliance.   

We are now the trusted market access technology provider for the world’s leading brands. 

We have spent two decades honing the digital tools, expertise, and regulatory content global companies need to monitor, assess and prove their products’ compliance, protecting their brands and helping drive their growth.

Q. Compliance & Risks works with multiple industries, varying from consumer electronics, household appliances, to fashion. Could you elaborate on how you personalize solutions for each of these industries?

At our core, we understand the increasing compliance challenges global brands face as we support major product manufacturers' ability to achieve, maintain, and expand market access in over 20 different industries.

For example, the medical device sector has seen a 64% growth in regulations over the past five years, with over 12,694 in force and 870 proposed regulations. On top of this, the new regulatory framework for IVDR and proposed amendments for the registration and inspection of medical devices under MDR means staying ahead of regulatory change is more critical than ever.

The consumer electronics landscape is also facing significant change; the industry has seen a 60% spike in regulations over the past five years, with more onus being placed on climate-neutral, resource-efficient economies, resulting in increased regulation. Similarly, the household appliances industry has dealt with a 60% growth in regulations over the past five years and has become increasingly connected to the internet leading to the convergence of product safety and cybersecurity laws and regulations.

In fashion, there has been a 56% growth in regulations over the past five years with closer scrutiny of substances such as PFAS and PIP 3:1 together with the EU Strategy for Sustainable Textiles, Mandatory Digital Labeling of footwear and new standards on the safety requirements for footwear in China are all impacting the industry at large. All of this regulatory change has an impact on a brand's ability to sell in the market. Managing regulatory change and implementing these legislative challenges requires a holistic, end-to-end solution that enables brands to confidently demonstrate compliance, with what is required, based on global regulations, standards, and internal policies. That’s where we come in.

We are proud to offer the most comprehensive market access solutions combining enterprise technology, extensive regulatory content, and a team of subject matter experts who constantly help keep abreast of changes to support our customers. 

Q. What can you tell us about your C2P Technology platform? 

C2P is a powerful enterprise technology platform that enables global organizations to manage company compliance obligations through tailored solutions for product compliance, ESG compliance, and site compliance. 

C2P helps achieve a number of key organizational goals: 1) Accelerates time to market for products, 2) reduces non-compliance risks that impact your ability to meet business goals that cause reputational damage, 3) enables business continuity by digitizing your compliance process and building corporate memory, 4) improves efficiency and enable your team to focus on business-critical initiatives rather than manual tasks, 5) saves time with access to Compliance & Risks’ extensive Knowledge Partner network.

Our customers have seen transformative results including, improved collaboration and greater transparency within teams and departments, internal process improvements, measurable ROI, and mitigated time delays and reputational risk.

Q. How is Compliance & Risks pushing the boundaries when it comes to the ever-evolving regulatory regime?

With changes in buyer behavior, issues of greenwashing, and the increased focus on climate change, sustainability is at the forefront for consumers, investors, and regulators. 

This year alone, there have been many proposed and enacted regulations in various jurisdictions. It is no longer a matter of if or when. Organizations need to know now what reporting obligations are coming into force to mitigate any risks and to keep pace with global reporting requirements. 

The rising importance of Environmental, Social, and Governance (ESG) is driving further regulatory change and we have invested in the creation of a purpose-built solution to address this—we recently launched our ESG solution to help global organizations meet new regulatory obligations.

As the leader in market access and product compliance solutions, we have the right technology, regulatory content, and expertise to help organizations unlock market access, and protect and grow their revenue. 

Tell us, what’s next for your company.

In the past three years, our business has grown rapidly as we develop new solutions and take them to market. In July 2021, we received a strategic investment from Luminate Capital Partners to help us realize our ambitions of being the world’s number-one provider of market access and product compliance technology solutions. 

The rising importance of ESG is driving further regulatory change. Today’s modern CEO is a sustainable CEO and with consumers looking for full transparency of ethical practice across the full supply chain, it is becoming more important than ever before for companies to report easily how they are performing in these areas. At Compliance & Risks, we have the technology and expertise to help companies navigate this complex field and are continuously developing new and exciting solutions to address these challenges. 

Q. How do you see Compliance & Risks changing in five years, and how do you see yourself creating that change?

The future is very bright for us. We are scaling the company to meet the needs of our customers and meet incredible market demand. With our technology platform, C2P, we are building on a solid foundation and we are aggressively investing in advanced technologies and automation that empower our customers to grow sustainably and satisfy the evolving needs of their customers. In addition, we are investing in our greatest asset as a business, our people, and our culture. This year alone, we have grown our team by 40% and will continue to bring on employees that share our passion. I am honored to be leading this change, and I look forward to supporting the team and our customers. 

About | Joe Skulski

Joe Skulski serves as the Chief Executive Officer of Compliance & Risks.

“Our customers have seen transformative results including, improved collaboration and greater transparency within teams and departments, internal process improvements, measurable ROI, and mitigated time delays and reputational risk.”