Compliance is certainly important. Some industries have more rules and regulations than others but if a company isn't adhering to the rules and guidelines that are required it can be detrimental to them. A company can go from successful to ruined by failing to comply. A company is better off complying rather than risking fines, litigation, poor public perception, and so on.
Is there an organization that you do business with and feel has been particularly successful? What do you think made the most impact in their success?