How Your Business Can Benefit From a Compliance Program

What’s your five-year plan, and how can compliance software help? Do you want to stay in the trenches,…
How Your Business Can Benefit From a Compliance Program

What’s your five-year plan, and how can compliance software help?

Do you want to stay in the trenches, or do you want to be able to enjoy the fruits of your labor?

Chances are, you’ve been too busy with your business to think through that question. Maybe you’ve been able to make some vague guesses, and that’s about it.

That’s why we’ve put this together for you because we want you to be able to take an actual break with absolute peace of mind.

What Is Compliance Software?

Compliance software has everything to do with data. So, if you’re running a restaurant, you probably don’t need to worry about this. However, if you run a law firm, a medical practice, etc., you need to be mindful of your data.

A piece of compliance software takes the responsibility of caring for your customer’s information out of your hands.

So, you should be considering compliance software if you run a business that deals with:

  • HIPAA compliance
  • PCI compliance
  • Federal Information Security Management Act (FISMA) protected information
  • Information protected by the Gramm-Leach-Bliley Act (GLBA)
  • Information protected by the International Organization for Standardization (ISO)
  • Information protected by the North American Electric Reliability Corporation (NERC)
  • Information protected by the Sarbanes-Oxley Act (SOX)

If your business deal with any of this kind of information, then you should consider a compliance program for your sanity, if nothing else.

Still not convinced? Keep reading. We’ll break down some of the specific benefits of having a compliance program.

Why You Need a Compliance Program

To protect your business against cyber attacks, monetary penalties, and more, you either need the most meticulous secretaries around or a piece of software that handles everything for you.

Here are the three benefits of implementing a compliance program.

Compliance Software Helps you Avoid Lawsuits

If there’s a data breach and extremely sensitive information gets into the hands of bad actors, you’ll:

  1. Be held responsible for that data breach
  2. Be held accountable for any monetary payouts
  3. Most likely, lose your job
  4. Lose trust

A single break has the potential to lose you millions in payouts, reduce your customer base, and more. Essentially, not implementing a compliance program can easily cost you your livelihood.

A Compliance Program Builds Trust

As we alluded to above, a compliance program is all about security, not just in the digital sense. If your customers don’t feel like you’re taking care of their data, they won’t give you their business.

Not only that, but a safe and proven track record is one of the best ways to get good PR for your business.

Compliance Programs Give You Peace of Mind

Everyone makes mistakes.

Information sheets get left out, computer screens get left on, passwords are given out, and phishing emails are opened.

Many compliance programs put a lot of emphasis on mitigating this risk. Compliance programs can come with password managers, turn-off screens, and more. You can get more information about specific features here.

The more you can do to make your security more predictable, the better.

So, Are Compliance Programs for You? (We Hope So)

The safer you can make your data, the better your business will be. After all, wouldn’t you want to take the risk to your business as low as possible?

We think that you should consider compliance software if you don’t have one already.

Want to read more? Check out our blog! It’s full of great information just like this.

 

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