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There’s no shortage of regulatory standards in today’s business world that you need to comply with. Keep reading to find out what that means.
However large or small your organization is, you need to comply with some standards. What’s more, these days, pretty much every industry has its regulatory standards. So it’s safe to assume that this isn’t the first time you have come across the term “compliance.” You might have even tried googling it a couple of times.
For the most part, searching the web for useful compliance information might end up being counterproductive. That’s because there is so much information out there that it can be overwhelming.
So, what does compliance mean? The Cambridge Dictionary defines compliance as “willing to do what other people want.” Not really helpful, right? That’s why our team at Servcom USA came up with this article.
That’s enough talk. Let’s dive in!
In the business IT world, compliance relates to fulfilling the requirements of a particular set of regulations or laws. To achieve compliance, you need to take the necessary measures to conform to the body of laws known collectively as governance.
Please watch our latest video to learn more about compliance:
Each of these standards has its set of requirements, although some can overlap.
To give you a clearer picture, let us consider a SOC 2 (system and organization controls) assessment, for instance. It includes five trust and services criteria (TSCs) plus distinct standard criteria. An auditor tests then report on each criterion in the resulting assessment report. You can tell whether the service organization in question is “compliant” with the SOC 2 controls by reading the report.
A common mistake most businesses make is failing to begin preparations early enough. To avoid the pitfalls of the last-minute scramble, we recommend you act swiftly. This will help you avoid unnecessary expenses, errors, and emotional stress. Don’t waste any time once you identify a standard that applies to your organization.
For starters, you need to find out what standard applies to your organization. How? Just reach out to a reliable managed IT services company. Any reputable IT company will offer you proper guidance through this process, especially if you have no previous experience. They will identify gaps in control that could potentially lead to unsuccessful conclusions.
Alternatively, you can look up information like implementation specifications on the standards’ governing websites whenever it’s provided.
What are the implementation specifications? In simple terms, they are detailed descriptions of how you can satisfy a certain regulatory standard’s requirements in simple terms.
Who Should Be in Charge of Compliance? We recommend hiring either an individual or a team that is dedicated to monitoring compliance. But if your business is still growing, there is a more convenient option. You could designate an existing employee to take charge of compliance for the review period.
Want to learn more about how you can stay compliant? Call Servcom USA Immediately (803) 232-5702 | Speak With Our Online Chat Team.
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