Regulatory Compliance: Managing Your Industry-Based Standards
In the landscape of regulatory compliance, it helps to have a little assistance. With our Compliance Management service, you can outsource your adherence to government/industry standard practices.
We’ve worked with businesses in numerous types of industries and verticals, meaning that our technicians understand what’s required to comply with certain regulations and standard practices.
The Importance of Regulatory Compliance
While compliance with these standards has significant financial incentives, it also helps you build trust and win more customers who may already have concerns about the security of their information. Further, compliance helps you to identify gaps in your IT security that you may have missed if an audit never took place.
Between HIPAA, SOX, FERPA, CMMC, and many other industry regulations, compliance management has become a critical operation for many businesses. Keeping track of the compliance landscape can require quite a bit of time and resources.
What is Compliance Management?
Compliance management is the ongoing process of monitoring and assessing your systems to ensure they meet the industry-based requirements, corporate policies, and security regulation standards. This process involves an assessment of your infrastructure to identify systems that are non-compliant due to regulatory, policy, or standards changes, misconfiguration, or any other reason.
Compliance management is important because noncompliance may result in fines, security breaches, loss of certification, or other damage to your business. Staying on top of compliance changes and updates prevents disruption of your business processes and ultimately saves you money (by avoiding litigation).
Challenges in Compliance Management
Well-defined policies and procedures lie at the heart of compliance management. However, it’s one thing to set them, and quite another to ensure they are implemented and followed consistently.
A lack of consistency in your compliance management can eventually lead to a whole number of challenges, including problems in:
- Consistent Policy Enforcement
- The Addition and Implementation of New Rules
- Creating Measurable Statistics to Track Success
To make matters worse, the compliance landscape grows increasingly complicated each year.
How We Manage Your Compliance
A good portion of staying compliant is related to data privacy and maintaining several safeguards to protect your client’s data.
We will work with you to implement the technology tools necessary to meet these standards, while also providing the testing needed to ensure that the standard is continually met. Having a partner, like KT Connections, with a proven track record of information security and compliance management is extremely valuable in assisting you in determining how your company data will be best kept secure.
Although many compliance laws have similar approaches to security, you need to be sure that you’re meeting the specific requirements for your industry. With our Compliance Management service, your company’s regulatory situation will get the attention it demands. Additionally, by meeting all the data security and reporting requirements you will reduce the risk of being cited for non-compliance.
Some of the regulations our staff of compliance experts can help you manage include:
- HIPPA (Health Insurance Portability and Accountability Act)
- PCI DSS (Payment Card Index Digital Security Standard)
- SOX (Sarbanes-Oxley Act)
- And more!
There are plenty of technology platforms available today to help maintain your compliance. Contact us today to learn more about our Compliance Management service and how it can help your business thrive.