Security and Compliance are two different functions that are often confused because they share some similarities. Compliance is the result of implementing security measures and meeting third-party standards that are mandated by law, industry regulations or business contracts. Security is the practice of putting in place the systems, processes and controls needed to protect an organization’s assets from cyber threats.
A core motivation for companies to implement compliance is penalty avoidance – nobody wants to be slapped with a fine. But that’s not the only reason to do it – being compliant is a good thing and helps ensure that an organization has a framework in place for best practices and legal requirements.
It also means that there is governance, formality, ownership and accountability around the management of risk and control activities. This makes for a better functioning security program and a much more confident team.
Keeping up with regulatory compliance can be challenging for many reasons, including:
Compliance requires an ongoing commitment to update systems and policies to meet new security threats as they emerge. Trying to keep up with all of the changes manually can be time-consuming and difficult to scale across an enterprise.
It is hard to measure the return on investment of an investment in a security program that is constantly changing, and it can be difficult to demonstrate the value of a robust security infrastructure when budgets are under pressure. It is easy for executives to lose sight of the value of security programs that are not being measured or shown to have a direct impact on the bottom line.
The costs of not achieving or maintaining compliance can be massive, and include lost revenue, legal fees and settlements, loss of proprietary information and intellectual property, reputational damage, inability to operate and even bankruptcy. Taking a defensive approach to cybersecurity is a sound financial decision for any company, and it can help protect the organization from the risks of a data breach.
Depending on the industry, it may be necessary to comply with a variety of different third-party standards, regulations and legislation, such as the Sarbanes-Oxley Act (SOX), Health Insurance Portability and Accountability Act (HIPA) or the General Data Protection Regulation (GDPR). The implementation of these regulations can be complex for organizations that operate globally, as there are varying laws in every country that must be taken into consideration. Using an automated solution to manage these requirements is essential for companies that are looking to maintain their compliance and mitigate the risk of a data breach. Ivanti Cherwell provides an integrated and scalable platform that supports an end-to-end governance, risk and compliance management program. This enables security teams to focus on reducing risk and protecting their organisation’s assets. To learn more about how Cherwell can support your organization in its compliance journey, click here. You can also download our ‘Compliance and Security: The Missing Link’ whitepaper. The whitepaper covers the key areas to consider when developing and delivering your security compliance program.