What Does It Mean To Be Compliant?

What Does It Mean To Be Compliant?

Google describes compliance as ”the action or fact of complying with (conforming to) a wish or command”. This is a relatively modest definition of being compliant, especially when it comes to IT and business.

In the business and IT world, we can best describe compliance as abiding by what the existing laws, frameworks, or regulations dictate. It primarily encompasses the steps your organization follows to conform to best practices and governance.

Here is a short video introducing the basics of compliance:

Why Is Compliance So Important?

As data is increasingly becoming the most valuable asset for today’s organizations, there’s a need to secure how it’s acquired, transmitted, and used. At the center of all this is your network, supported by your IT infrastructure. Your end-users, and employees, trust you with very personal information.

The law, in turn, obligates you to safeguard this data and use it fairly. Hence, the necessity of compliance regulations; to create a fair playground. These prescriptive controls demand of you, as an executive, to ensure that your company has defined guidelines on how to comply with them. Blatant disregard or noncompliance may attract very hefty fines, which I am sure you are not willing to pay.

So, do you know the compliance requirements that apply to your organization? Do you have a well-defined compliance framework? Do you want to get started?

What Do You Need to Know to Become Compliant? When a customer/prospect asks if you have specific frameworks, reports, or certifications in place, expect more of such questions moving forward.

Many organizations will wait until it’s an industry requirement to prepare for compliance with the set regulations. They then begin rushing to have the necessary policies, controls, and processes in order. The truth is, this approach is often nerve-racking, expensive, and prone to blunder. Early preparation gives you ample time and the chance to do things correctly. You can also learn from your mistakes without undue pressure.

So how do you get started?

How Can You Comply With All The Applicable Standards? The first step is to identify the regulatory requirements applicable to your specific industry, and then narrow down to your organization.

Here are some regulatory standards you must know:

• System and Organization Controls (SOC) Compliance
• The Health Insurance Portability and Accountability Act (HIPAA)
• The Sarbanes-Oxley Act of 2002 (SOX) Compliance
• The National Institute of Standards and Technology (NIST SP 800-171)
• The Payment Card Industry Data Security Standard (PCI DSS)

Most standards have governing websites with additional information. However, getting down to implementation specifications requires deep subject-matter expertise. Contacting an experienced and knowledgeable service provider to assist through the compliance process is the best option for most companies. Some largescale corporations have internal audit and compliance teams, and only outsource help when necessary.

Noncompliance is so expensive that you wouldn’t want to gamble when it comes to being compliant.

Get expert help from OneSource Technology.

Our team:

• Offers pre-assessments to determine where there may be governance gaps that would prevent your organization from having a successful conclusion.
• Designs and implements appropriate compliance frameworks.
• Works with you in regularly reviewing your compliance status and making the necessary amends.

One more thing — you don’t need to advertise that you have complied with specific standards? It’s not a requirement by law, but there’s no harm in using your verified positive compliance status to market your organization. In any case, nobody wants to work with an organization that isn’t compliant with the set industry standards.

For any questions or help with compliance issues, OneSource Technology is your go-to trusted partner. Give us a call at (316) 788-1372, or email solutions@one-sourcetech.com, and let’s discuss your compliance needs.