Cameron Conn, Founder and CEO of Compliance and License Management Platform OneComplylooks at the culture of the gaming company and asks if enough is being done to make it sufficiently compliance-driven.
Gaming and sportsbook operators spend billions of dollars and massive resources to ensure they provide an exemplary experience for their customers. From initial customer acquisition to ongoing promotions, operators strive to understand and manage their customers to deliver programs and incentives that keep them coming back to their site, whether online or physical.
For gaming companies, creating and fostering a customer-centric culture is part of their DNA. It’s written into their mission statements, it’s part of their employee onboarding for virtually every department, and it’s something they invest heavily in, whether it’s training or rolling out specially designed advanced tools. Creating and sustaining a customer-focused culture is intrinsic to the success of their business.
What is the place of compliance in your culture?
In the United States, the gaming and sports betting industry is among the most regulated industries in the world. Obtaining a license is mandatory for a gaming company because without it, it literally has nothing to do. And complying with all regulations, in order to maintain and protect this license, is essential.
But would most video game companies say they have built a culture of compliance in their organization? Even though it is absolutely essential to operate in the gaming industry, licensing and operational compliance simply doesn’t get the attention it deserves.
Build a culture of compliance
It’s time for gaming companies to give the same importance and resources to regulatory and operational compliance as they devote to acquiring and managing their customers. Customer focus is great, but it’s all for-not without a culture of compliance to protect a gaming company’s most important asset – its gaming license.
But how do you create a culture of compliance, since licensing and compliance have for decades been tightly siled, with responsibilities spread across various unconnected departments, including legal, compliance, human resources, operations, and finance? ?
And can you imagine running your customer acquisition or player development program with the same outdated spreadsheets, Word documents, emails, and file sharing sites that your licensing and compliance teams use?
New tools to bring compliance into the 21st century
Just as specialized software platforms need to drive their customer acquisition and management programs and bring together all the disparate departments of the organization, SaaS platforms purpose-built for gaming are now available to manage, automate and centralize a company’s licensing and operational compliance processes. .
Tools such as OneComply’s Licensing and Compliance Management Platform enable all stakeholders in a company’s compliance ecosystem to use a purpose-built gaming solution that connects all of these disparate parties. and breaks down silos that can put a license at risk.
And like the customer acquisition and management tools, OneComply provides high-level dashboards that provide an “at-a-glance” overview of all licensing and compliance issues that need attention, as well as Visibility to stakeholders on all aspects of licensing and operational compliance that impact their organization. It’s designed to be the place where a gaming company’s legal, compliance, human resources, and management team can log in every day to check on the health of their most important business asset: their gaming license.
How to start your culture of compliance
So the question is always how does a video game company create a culture of compliance? The answer is quite simple: just use the same management strategies, processes, and guidelines you used to create your customer culture. The techniques you used to create a customer culture can be easily transferred to creating your compliance culture, with the primary driver being the C-suite’s commitment and support to get there.
Above all, it is imperative to equip your compliance stakeholders with the same level of advanced, purpose-built technology that you use for your customer management processes. A solution that all key stakeholders can access and buy into, that provides structure and visibility into the entire licensing and compliance process, and that can be the control center to ensure that nothing slips through the cracks.
Having just one bad customer experience isn’t great, but it won’t bring down a business. However, one major non-compliance can jeopardize your gaming license and your business.