Is your business practicing the best I.T. compliance? Conventionally, organizations and security teams counted on firewalls, content filters, and access restrictions to protect their digital assets. However, in the view of modern and complex security threats that organizations face, security tools are undergoing a major paradigm shift. Traditional security tools cannot account for cyberattacks that happen due to human error and data exploitation.
Hence, security tools have evolved to counter malicious cyber-attacks and protect an organization’s assets. There are multi-layered security systems and various other compliance tools that help organizations reduce the vulnerabilities to online attacks and hacking attempts. One of the measures that organizations often employ is I.T. compliance. This process helps businesses meet digital security requirements and practices.
Keep reading to learn more about how I.T. compliance can have a critical influence on your data security.
What You Will Learn In This Article:
What is I.T. Compliance?
I.T. compliance revolves around meeting third party’s requirements. It aims to meet specific privacy and security requirements of various markets, customers, and governments to enable business operations. It ensures that businesses and organizations keep up with the privacy standards and high confidentiality. Therefore, I.T. compliance ensures the company meets the following requirements of a third party:
- Customer or contract terms
- Security system
- Government laws
- Industrial rules and regulations
Most commonly, I.T. compliance is a defining issue for the medical and legal professions.
What are the objectives of I.T. Compliance?
One of the core objectives of I.T. compliance is to execute an outline of a strategic and ethical security framework for an organization. The legal part of I.T. compliance offers good policies and I.T. infrastructure to businesses.
I.T. compliance mitigates the following risks for an organization:
- Loss of a loyal customer base
- Damage to brand image
- Loss of sensitive data and information
- A seismic drop in stock worth
- Loss of money and revenues
- Expenditures on remediation procedures like legal costs, fines, and capital acquisition.
Compliance is fraught with various challenges, making it difficult to achieve due to the complex and novel rules and regulations.
Explicit and unapproved usage of applications and software is one of the critical challenges customers and organizations face. However, organizations may mitigate these risk factors by ensuring proper employee training, managing appropriate deals with the service providers, especially cloud service vendors. Moreover, organizations may tackle cloud services problems through strict monitoring and I.T. security audit.
Why is I.T. Compliance necessary?
I.T. compliance may become necessary due to various legal and contractual reasons. Several laws and regulations have involvement in shaping and setting the standards of I.T. compliance. The necessity of the I.T. compliance relies on the following factors:
- Firstly, customers’ and clients’ contracts.
- Secondly, the location of your company or industry
- Thirdly, government laws
- Lastly, the size of your company or industry
There are several laws that businesses must meet. These laws render working criteria for businesses. Although, they may only apply to specific companies and businesses. Keep reading for a breakdown of some of the rules and standards that I.T. security audits demand.
One of the most famous laws is the Health Insurance Portability and Accountability Act, better known as HIPAA compliance. This law regulates the security and protection of all the healthcare units that tackle medical records and healthcare information. HIPAA has three specific compliance goals: privacy, security, and communication.
The security standards ensure that the healthcare data on administrative and business fronts on electronic platforms stay safe.
HIPAA keeps up with its compliance policy by informing concerned parties about the data breaches through notifications. As soon as any breach occurs, HIPAA releases a notification to inform patients about their sensitive data.
The Sarbanes-Oxley Act, also called SOX, aims to protect and secure investors from explicit and fraudulent financial activities. SOX ensures that shareholders and customers receive accurate financial information about companies and businesses. It also aims to mitigate swindling and fraudulent activities during financial transactions.
Moreover, SOX audits also improve the general financial practices and procedures of an organization.
The European Union issued a set of regulations that aims to secure the data of European citizens. This set of rules is known as General Data Protection Regulations or GDPR. It includes new sets of requirements for organizations. If an organization is willing to do business with the E.U. or is tackling any financial information of European citizens, it must comply with the requirements of GDPR.
Compliance and GRC
Governance, risk, and compliance is software that allows businesses to exercise control over data management and I.T. compliance. It will enable them to keep up their I.T. strategies with several concerned departments. The software also assists employees in meeting compliance requirements. Organizations utilize GRC to mitigate cyber threats, recognize errors and identify swindling activities.
The GRC software renders the following functions: firstly, governance; secondly, risk; and thirdly, compliance.
Before choosing a compliance plan, organizations should execute a proper plan, set directions, and regulate all the developments and outcomes for successful governance. It also involves managing information and data.
Threats and vulnerabilities engender more significant risks for organizations. Thus, GRC allows I.T. risk assessment and management. It helps to mitigate risks and monitor third-party and supplier involvement.
After ensuring proper governance and effective risk management, organizations may evaluate their compliance.
I.T. compliance is a valuable asset to businesses since it helps attract customers who prioritize companies’ security and privacy policies. It also helps to foster your companies’ reputation when you keep up with the compliance standards of clients and investors. Moreover, you don’t just build a strong customer foundation and investor base; you also minimize the losses from data breaches. All in all, to stay compliant, you need to implement security laws and regulations. Working with a robust security system and I.T. compliance policy may help guarantee a smooth sail in your business activities.
About Cinch I.T.
Since 2004, Cinch I.T. has been providing customer-focused I.T. services for businesses of all sizes. Whether you need on-site support or a reliable cloud computing office, our computer support offers the fastest and friendliest service in the industry. Cinch is one of the nation’s fastest-growing I.T. support franchises with 10 locations and counting. To learn more about our history as a computer support service provider, visit cinchit.com. For more information about I.T. franchise opportunities, visit cinchfranchise.com.
Click here to find your nearest local Cinch I.T. office: