## 5 RegTech Applications in Non-Financial Sectors
### Manufacturing  
Manufacturing companies face a range of regulatory requirements, such as environmental regulations, health and safety standards, labor laws, and product quality standards. The compliance cost is a heavy burden for manufacturers. The World Bank reports that about 8% of the gross national product is spent on regulatory compliance annually [82]. The National Association of Manufacturers (NAM) also reports that the U.S. company spent $9991 on average per employee per year to comply with federal regulations in the USA. But it cost each manufacturer almost $19,654, which is two times the average, and the smaller producers' costs could be close to $35,000, which is almost three times more than the average [83]. Fulfilling compliance requirements is expensive for manufacturers, who will pay more if they fail to meet regulatory guidelines, as non-compliance can cost up to $14.82 million for manufacturers, according to the study conducted by the Ponemon Institute [84]. With the help of RegTech, which can facilitate the automation and precise interpretation of ever-changing compliance guidelines, manufacturers can increase efficiency in the compliance process and reduce labor costs significantly. They can automate data collection, analysis, and reporting processes, enabling real-time monitoring of compliance status and facilitating timely corrective actions.  
Moreover, workplace injuries are another high cost for manufacturers related to occupational health and safety compliance. RegTech can minimize this loss by specializing in risk management that monitors employee behavior and workplace conditions. Potential dangers can be identified by analyzing incident data to improve processing procedures by reducing weak points. For example, manufacturers can apply pressure-sensitive tags to \"circumvent recurring blockage of their stamping equipment by examining the data sets presented for embossing\" [82].  
In addition, manufacturers must adhere to stringent regulations and standards to ensure product safety and quality. RegTech solutions can automate product testing, quality control, and traceability processes. By integrating data from various sources, such as IoT devices or quality management systems, RegTech tools provide real-time visibility into production processes and enable proactive measures to maintain compliance with relevant standards.  
Moreover, manufacturers can minimize the potential impact on their operations and keep a good reputation through supply-chain compliance management and product quality control by proactively addressing compliance risks. Manufacters often have complex supply chains involving multiple suppliers and subcontractors. Effective supply-chain management directly impacts the manufacturer's efficiency in production. RegTech solutions can assist them in automating due diligence processes and monitoring suppliers' compliance status. By enhancing transparency and traceability, RegTech enables manufacturers to ensure that their suppliers meet regulatory requirements, such as ethical sourcing or product safety standards.  
By taking advantage of technology and automation, RegTech solutions enable manufacturers to navigate complex regulatory landscapes, enhance compliance efficiency, and mitigate compliance risks, ultimately contributing to improved operations, reduced costs, and increased regulatory effectiveness.