UBOs in a complex business structure: Why automate?
For family businesses and companies with a complex organizational structure, UBO (Ultimate Beneficial Ownership) compliance is an increasing challenge. Regulations are becoming stricter, data volumes are increasing, and errors due to manual processes are causing a lot of frustration.
In this article, we discuss the challenges of UBO compliance, the benefits of automation, and how Ortes can help get a grip on entity management and compliance processes.
1. Regulatory Differences by Jurisdiction
Although UBO legislation is based on the same principles worldwide, there are significant differences in interpretation and enforcement. This makes it difficult to use a standardized approach, especially for companies with international structures.
2. Large Amounts of Data
Companies need to collect and manage a lot of data, such as names, addresses, identity information, and shareholder information from different entities. This can lead to an enormous administrative burden.
3. Risk of Errors due to Manual Processes
Many organizations still rely on manual methods to maintain UBO data. This increases the risk of errors and incomplete registrations, which increases compliance risks.
4. Decentralized Information Storage
Without a centralized system, UBO data often spreads across departments, systems and locations. This makes it difficult to report information quickly and accurately.
Why Automation Is the Key to Efficient UBO Compliance
Automation makes managing UBO compliance easier and more efficient. With a platform like Ortes, companies can:
- Streamline processes — quickly request and structure UBO data for reporting.
- Work more efficiently — Spend less time and money on manual processing.
- Improving data quality - Reduce errors and always have up-to-date data.
- Minimizing Compliance Risks — Ensuring transparency and regulatory compliance.
How Ortes Simplifies UBO Compliance
At Ortes, we understand the challenges of multi-entity organizations. Our platform offers advanced tools to automate entity management and UBO compliance:
✅ Centralized Cloud Database
• All UBO-related documents and data are kept securely in one place.
• Direct access to shareholder information and ownership structures
✅ Dynamic Organograms
• Visual representation of business structures to provide immediate insight into UBO relationships.
• Automatic updates when the ownership structure changes.
✅ Administration and Access Control
• Control who has access to specific entity information and documents.
• Secure cooperation with external parties such as accountants and legal advisors.
UBO compliance doesn't have to be a headache! With the right technology, you can automate processes, improve data quality and minimize risks. Ortes helps companies with complex structures to get a grip on their entity management and compliance obligations.
Want to see how Ortes can simplify your UBO compliance? Plan one demo and discover the benefits!
