- The Washington Times - Wednesday, October 25, 2000

Seattle-based NetCompliance, which helps companies comply with government rules, is moving to the District of Columbia by the end of the year to be closer to regulatory agencies and take advantage of the region's high-tech talent.
The company joins a growing number of human resources companies looking to tap into the compliance market by using the Internet.
All U.S. companies must deal with a tangled web of regulations, from how to train employees to where to store harmful chemicals. Companies like NetCompliance compile those rules and put them on line in formats that aim to be easy for companies to use.
The products they offer range from text of regulations to on-line training videos.
Krish R. Krishnan, chief executive officer of NetCompliance, said the company has not found office space yet, but is concentrating the search downtown in the Farragut Square area.
The concentration of technology companies and high-tech workers was one of the company's reasons for moving its main office here, as well as the desire to be closer to federal agencies such as the Environmental Protection Agency and the Office of Safety and Health Administration.
"I was pleasantly surprised and really blown away by the talent pool here," Mr. Krishnan said.
NetCompliance has about 50 employees in offices in Washington state and California. The company recently acquired B-Safe of Orange Country, Calif., a distributor of health and safety products.
The firm also has undertaken a second round of financing, and just received a "multimillion-dollar" investment from a Dutch group, NeSBlC CTe Fund. The goal of the round is to raise $25 million to $50 million.
In the first quarter of next year, Mr. Krisnan plans to open NetCompliance's first overseas office in Brussels.
The company is expanding operations to tap into growing demand among small and large business for compliance help on line. Putting regulations into an electronic format eliminates the need to go through reams of paperwork.
The agencies themselves do offer some level of guidance on what regulations apply to whom, but paid services such as NetCompliance offer more focused aid.
Another area company, Virtual Compliance Inc. of Rosslyn, has seen the trend catch on as well.
"This area is sort of starting to explode. I would say that people are starting to speak our language," said David C. Frankil, the firm's CEO.
The 25-employee company offers an on-line form for companies to fill out, then returns the regulations that apply to them.
"We've seen a real uptick in interest in our company" as people have grown accustomed to using the Internet for more than just research, Mr. Frankil said.
Mr. Krishnan said in the long term his company will hire at least 50 employees here, and he is considering two area acquisitions, though he would not name them.

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