October 27, 2020
Many businesses see compliance in opposition to growth and innovation. It’s true that compliance requires conforming to rules set out by external organizations. However, there are valuable benefits to be gained by adhering to regulatory expectations. IT compliance certification is essential for businesses that want to grow and maintain positive relationships with their customers and employees.
Defining Regulatory Compliance
Depending on the industry, IT compliance standards will vary. The governing entities that oversee the industry may have regulations about the type and frequency of reporting. For instance, some businesses are required to publicly post financial documentation that proves compliance. Other regulations may set out expectations for security protocols and data privacy for customer and client information. It’s the job of the business to demonstrate compliance, and one way to do this is with an IT security compliance certification.
There are several industry-leading certifications. To demonstrate safe financial transactions, companies can get PCI DSS certified. Additionally, ISO 27018 compliance shows that the company is practicing safe and secure cloud policies to protect personal data. The Tier III certification for reliability and uptime and the control certifications like SOC 1 Type II show that maintenance and design have been completed appropriately. Finally, the ITIL certification shows that staff has been trained in the highest standards of IT service and security.
Benefits of Regulatory Compliance
Companies can work with regulatory expectations rather than against them. By proving compliance with an IT compliance certification, a business should expect to gain multiple benefits. The first major benefit of regulatory compliance is customer trust. When someone decides which company to give their business to, most customers are looking for proof of safe and legal operating practices. Today’s consumers are particularly concerned about data hygiene. If a company can prove it is compliant with regulatory requirements, it improves its customer appeal greatly. Adherence to IT compliance standards also improves public relations.
Within the company itself, regulatory compliance can improve productivity, help avoid legal problems, and support the growth of a compliant culture. Executive leaders can utilize IT security compliance certification as a foundation for creating a company-wide compliance-oriented culture. Rather than avoiding rules and cutting corners, employees should understand the value of regulatory compliance. In the course of achieving an IT compliance certification, many businesses discover inefficiencies and counterproductive processes. Compliance can lead to increased productivity and preempt legal problems by prompting an in-depth analysis of internal policies and procedures.
Compliance is not about inhibiting growth or preventing employees from innovating. Instead, prioritizing IT compliance standards can empower employees to become more involved. Stakeholders and investors are attracted by adherence to regulatory expectations, and this commitment results in positive brand perception.
Overall, as an investment in the future success of a business, an IT security compliance certification provides excellent ROI. Each company should look for the qualifications that represent excellence in their industry. Now is a great time to refresh security policies and pursue a certification that proves compliance, as benefits to customers and employees are immense.