Why the Cost of Compliance Is Far Less Than the Cost of Inaction
Global regulations aren’t just about fines—they impact market access. Learn why compliance is now a business-critical priority for IoT manufacturers.
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Why the Cost of Compliance Is Far Less Than the Cost of Inaction
Transcript
I think the real reason, that we wanna get started is the cost of failure is high. Right? This is not the kind of thing that we can be lax about and go into.
Losing access to a market is a much bigger penalty thna just incurring fine, which is sort of the equivalent of a corporate slap on the wrist. Right?
Don't get me wrong. The fines are still in play and can be quite costly under the structures, so they're significant in and of their own right.
But I like to remind folks that European regulations are why all your iPhones out there have USB C charging ports these days.
And it was worth it to Apple to make that change to not lose access to that market. Right? If they hadn't done the change, people wouldn't be buying iPhones in Europe. But guess what? They did, and you have it. And it's just a really good example, one good example of how powerful and what a powerful motivator regulations like this can be to affect this kind of chain.
Oh, yeah. Again, the last thing I was gonna say, it does represent real fiscal threat to your company, and it's a rare case where we're really aligned.