Benefits of IT Compliance Management
All businesses have regulations that must be followed to protect their customers and data assets. IT Compliance is a necessary component of any company. Some of the most common compliance requirements include HIPAA for healthcare organizations, POX for public companies, PCI DSS for credit card processing, GLBA for financial institutions, EU GDPR for data protection, FISMA for federal agencies, and CCPA for information processing.
Compliance is essential to every organization and being compliant can help you avoid penalties and have many benefits to your business.
The goal of Compliance Management is to minimize risk to your business and keep up with third-party standards. Risks can include monetary loss, data breaches, customer trust, reputational damage, breaks in operations, and partner distrust. Organizations can avoid these risks with Compliance Management. WTS delivers IT Compliance solutions that meet the framework relevant to each client’s organization.
Benefits of IT Compliance Management
1. Avoiding Penalties
Being compliant with third-party companies is mandatory and not complying can lead to heavy fines for your business. Non-compliance can cause more than just fines. Other penalties can include prison time, reputational damage, business closure, employee compensation, and much more depending on the regulations broken. Compliance Management helps you keep up with your organization’s regulations and avoid any penalties to your business.
2. Reduced Risk of Security Breaches
Being compliant does much more for your business than just protecting you from violation consequences. Compliance and cybersecurity work together to protect your business from data leaks and information breaches. Guidelines for compliance regulations and a good IT infrastructure work together to reduce the risk of security breaches so you can protect your customers and your business data.
3. Building Customer Confidence
Regulatory compliance boosts the confidence of your customers and investors because they know you’re taking their information security seriously. Many people today will only do business with companies that adhere strictly to compliance regulations. Being compliant shows that you put in the effort to meet the standards required of your business and that you’re not compromising the private information of your employees and customers. Clients and potential clients want to know that you follow ethical business practices and that your business operates safely and responsibly.
4. Efficient Operations
Compliance ensures that organizations operate within a specific set of privacy and security guidelines. Successful businesses incorporate compliance policies into their everyday operations for efficiency. Compliance solutions from a Managed Service Provider like WTS can help ensure your business operations function seamlessly.
5. Having a Trusted Partner
The biggest benefit of having WTS help with IT Compliance is gaining a trusted business partner. We get to know your company specifically so we know what regulations need to be followed and then we make sure your business is compliant with all IT-related requirements.
Want to learn more? Let’s talk. Contact our team at 843-236-6436.
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