Security Compliance As-A-Service
If your business contains a number of assets within your information architecture, then you want to be sure that you are in compliance with the appropriate regulations. There are numerous governance, risk and compliance (GRC) strategies that can support best practices both on-site and in-the-cloud.
In most cases, there is a set of rules and regulations that guide every field where business and technology meet. Some of these aspects consist of:
- System integrity
- Data integrity
As more and more companies are embracing technology on a worldwide scale, the need for organizations to protect their customers’ data from potential hackers and corruption has become more important than ever. While its important for enterprise-level solutions to protect increasingly complex & intertwined data stores and systems, these systems need to be transparent as well for auditing, monitoring, & confirming that their data is being handled in accordance with legal restrictions and corporate policies.
Types of Compliance as a Service
There are several types of cybersecurity compliance as a service, including:
PCI DSS compliance
This type of compliance is a Data Security Standard required for any organization within the Payment Card Industry that accepts credit card payments.
This type of compliance is required for healthcare organizations and businesses that handle protected health information.
SOC 2 compliance
This type of compliance is for organizations that handle sensitive customer data, and is intended to ensure that the company has effective controls in place to protect that data.
ISO 27001 compliance
This type of compliance is for organizations that handle sensitive information and is focused on information security management.
GDPR (General Data Protection Regulation) compliance
This type of compliance is for organizations operating in the EU and is focused on protecting personal data.
NIST Cybersecurity Framework compliance
This type of compliance is for all organization and provide a comprehensive framework for managing cybersecurity risks.
These are just a few examples of the types of compliance as a service that are available. The specific requirements of a compliance service will depend on the industry and the types of data that an organization handles.
What Business Compliance As-A-Service Companies Actually Do
Compliance as-a-Service (CaaS) is a value-added service provided by a managed service provider helps a company meet its regulatory compliance requirements. Through a service level agreement, our clients will specify how we can off-load the never-ending list of regulations. Increasingly, we’re seeing these utilized within cloud computing use-cases, as more companies incorporate various cloud computing solutions into their information architecture. The quickness with which companies are shifting their full-time teams & part-time contractors means building out their entire workflow and data storage inside a private cloud. In certain industries, these new cloud-based workspaces require extra internal control mechanisms & processes.
CaaS operates as the basic underlying system that allows compliance teams to create and build services for customers. These systems analyze compliance across a broad set of rules. In order to maximize reliability, sometimes a Service Oriented Architecture (SOA) is incorporated as a layer into an organization’s existing architecture. This also enables them to quickly adapt to changes in the regulatory landscape.
Goal of Outsourced Security Compliance Services
The goal of this third-party security compliance service is, ultimately, to minimize risk for a company. We’ve seen that outsourcing security compliance mandates will cut down on an organization’s compliance overload by delegating compliance management tasks to a third-party that has the resources required to meet regulatory requirements in a more cost-effective manner.
Benefits of Compliance As-A-Service
Compliance as-a-service is the latest solution for businesses that want to stay up to date and ahead of the curve. Some benefits of these services include:
- Cost savings: Outsourcing compliance tasks can be less expensive than building an in-house team to handle them.
- Expertise: Compliance as a service providers have specialized knowledge and experience in meeting the requirements of various regulations, such as HIPAA or PCI-DSS.
- Access to technology: Compliance service providers often have access to specialized software and tools that can help organizations meet compliance requirements more effectively.
- Reduced risk: By ensuring compliance with regulations, organizations can reduce the risk of fines and other penalties for non-compliance.
- Continuity: Compliance service providers can help organizations to establish policies and procedures that ensure compliance is maintained over time.
- Faster response: Compliance as a service providers can help organizations to quickly respond to new regulations as they are introduced.
- Insights: The provider can offer a detailed compliance report to the customer, which can be important for the customer to show regulator’s during an audit.
Compliance systems are responsible for managing and automatically renewing their cloud services over a period of time. These cloud providers let businesses use their services with pre-configured behavior based on the requirements of specific regulations or standards.
If there are changes to financial regulations, the provider will be liable for altering these services accordingly. This assistance means that Compliance as-a-service can save businesses millions of dollars throughout the years by decreasing the need for administrative overhead.
Compliance as-a-Service is Risk Management Services
As some organizations may generally lack the resources and expertise to train staff to audit and manage compliance requirements, outsourcing these tasks can save a good amount of time and money. Instead of using beneficial internal resources on managing compliance you’ll be able to focus your energy on where they belong – delivering outstanding client services.
Choosing an IT Compliance Company
CorCystems has all of the necessary information to help you learn more about compliance as-a-service. If you have any specific questions or concerns you can give us a call to find out more today! (203) 431-1341.