When you're in business, your organization and its employees must adhere to a variety of regulations. The term "compliance" refers to obeying the regulations. That is, you must adhere to all relevant laws as well as any internal or external standards.
Successful businesses recognize the importance of balancing vision with technology, as well as keeping an eye on regulatory developments on the way. Compliance is more than a service at IARM; it's integrated as part of all of our IT solutions. Today, we'll answer one of the most common questions: What is IT compliance?
IT compliance is the process of meeting the requirements of a third party in order to support business operations in a targeted industry, align with legislation, or even with a specific client.
Compliance and security are commonly confused, although compliance has a different objective. It is centered on a 3rd party's requirements such as:
Industry Laws and Regulation
Government Policy Acts
Frameworks for IT Security
Contractual terms between the client and the customer
Related: Why is Third Party Risk Management Important?
Compliance is an important business concern in the following areas:
Countries with data/privacy legislation such as the California Consumer Privacy Act, GDPR, ISMS and more
Heavily regulated markets are Healthcare and banking
Clients with rigorous privacy requirements
Almost often, high levels of compliance are required in these sectors.
What Are the Advantages of IT Compliance for Your Organisation?
It improves your system's security: You're essentially working on protecting your network from intrusion as you deploy various protocols to meet IT compliance needs. Whether it's PCI for the credit card sector or SOC 2 Type 2 for public corporations, the majority of these regulations are basically a series of standard security practices.
It Enhances Your Client Attraction and Retention Capabilities: Aside from the financial losses, the IT giant's user base decreased dramatically.And genuinely today's consumer expects assurance that their personal information will be kept protected. Any evidence to the contrary will frighten knowledgeable prospects, current clients, and even coworkers.
Higher Productivity: Information technology is an essential component of any modern organization. To ensure that your systems are always safe, you don't need rules and standards.Consider how much productive time would be lost if your systems were hacked right now. IT compliance reduces the likelihood of data breaches and the resulting production process disruptions.
If these aren't enough to convince you to take IT compliance seriously, remember the hefty fines that may result from non-compliance.
What’s next?
Lets see How can you make sure your company is IT compliant?
We've been talking about compliance as if it were a set of global rules the entire time, which makes the topic sound clear. The awful reality is that each industry has its own set of specifications. As a result, in order to be IT compliant, you must first discover the regulations that apply to your industry. The right compliance frameworks are then designed and implemented for your specific company. This process can be difficult and perplexing, especially if you have no prior experience with these issues.
What does this mean for your business in the Bay Area? You must start preparing for IT compliance as soon as possible. A last-minute hurry to meet all of the standards at the same time is prone to mistakes.
Here's a checklist to help you figure out what kind of compliance your company requires.
HIPAA is a federal law in the United States that governs how the healthcare industry safeguards and communicates personal health information.
SOC2 Compliance is a financial regulation in the United States that covers a wide range of sectors.
Payment Card Industry Data Security Standards (PCI-DSS) are a set of security laws that protect customer privacy when firms transmit, store, and process personal credit card information.
ISO 27001, on the other hand, is a potential method that businesses can join by aligning with these Information Security criteria.
Compliance isn't just a series of hoops to jump through; it's an asset to the company.
Getting your company to comply with a well-known industry standard like ISO 27001 can help you: Improve your company's reputation
Obtain new business from customers who are concerned about security.
Compliance can also help discover any vulnerabilities in your current IT security program that might otherwise go undetected if not for a compliance audit.
Furthermore, compliance allows firms to have a consistent security program rather than one where controls are set at random.
Related: Cybersecurity for Startups: Top 10 steps to secure your organization from cyber threats
Let IARM assist you with IT compliance
While managing IT compliance internally is possible, it's not really the best option.
The procedure is lengthy and will simply serve to divert your attention away from your primary company responsibilities. Why put yourself through the stress when you can outsource this service for a fraction of the cost of your IT budget?
IT compliance is just a matter of seconds. Get in touch with us right now to discuss your IT compliance requirements.
Thanks and Regards
Priyadharshini - IARM Information Security
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