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11 months ago
Market Surveillance System: All You Need to Know
Market surveillance is practiced by public and private companies to ensure that their products comply with all relevant legislations. It is instrumental to bring about a level playing field for all market operators in similar industry types, and build a trust factor among consumers who are buying their products or services. In addition, it ensures the safety of both consumers and companies by preventing any loss that may occur due to a non-compliant product. The companies that employ market surveillance stay in the business for long and do not lose their share to unscrupulous traders.
What is a Surveillance System?
A market surveillance system is usually a web-based solution that helps companies to investigate and prevent abusive or illegal trading practices in real time. An effective and efficient market surveillance solution preserves the benefits of internal market and facilitates the competitiveness of legitimate manufacturers.
Although you can find innumerable market surveillance solution providers offering market & trading surveillance system for banks and financial institution, finding the right solution from a reliable provider may take you places. Make sure that the provider you select offers a solution that enables you to meet the challenges of your markets across all the levels of your business.
In addition, while choosing a market surveillance system, makes sure that the one you select –
- identifies and resolves complex and suspicion trading activities
- improves operational efficiency and risk management
- provides the most robust and compliant resources in the industry
In order to find a provider that offers a solution based on above mentioned attributes, conduct a web search and visit the website of the top companies displayed in the results. Compare the features and services of each provider. Don’t take a haste decision, and do a thorough check of the provider before procuring their solution. Read testimonials posted on the websites of all the companies you shortlist and pick the one that shares a good rapport with its clients and offers comprehensive support. Send a quotation request to the provider, and in case of any query, you can also call at the number mentioned on their website.
Looking at ever changing regulatory provisions along with the complexities of growing volume of data a sound market surveillance system has become the need of the hour to keep your company compliant.
Hence, to sum up it will be safe to say that a market surveillance system improve operation efficiency and replace time-consuming manual process in an effective manner.
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