Compliance Management & Reporting
We live in the era of Big Data. The modern business world is completely reliant on data, and the digital collection of data is required in almost every industry. When a client submits their data to a company, they entrust that company with some of the most personal information they possess. The improper use or leaking of that information could lead to everything from personal embarrassment to financial ruin due to identity theft.
It is the obligation of every company to have proper cybersecurity in place to stop leaks and prevent data breaches from happening. There are a number of compliance organizations across industries who have set IT security standards to help protect the data of consumers. However, it is your responsibility as a business manager to handle compliance with these organizations for your company and to accurately report your compliance information.
What Is IT Security Compliance Management?
IT security compliance management is the process of making sure the cybersecurity tools you have in place protecting your network are sufficient to keep your company in compliance with your industry’s IT security regulations. It further includes your ability to produce reports showing that your IT security systems are in place and how they are working to protect data as required.
Trying to manage all this manually can be a tremendous drain on resources and make it difficult to produce accurate reports when needed. That is why it is important for a SOC-as-a-service platform like CYBERShark to facilitate IT compliance reporting for you.
Why Is IT Security Compliance Management and Reporting Important for Businesses?
The main reason that IT security compliance management and reporting is important for business is that IT security compliance may be required by your industry. IT security regulations can vary, but if you are in an industry that regularly deals with the collection and storage of people’s personal and sensitive data, it is almost certain that there are regulatory requirements governing that industry.
You need effective IT security compliance management procedures in place. You also must be able to produce reports that show you are following those procedures to insulate you from a potential audit by a regulatory organization. Failure to pass such an audit could damage your reputation as well as result in downtime while you shut down the areas of your system that are not in compliance until they are up to standard.
What Are the Benefits of IT Compliance Software?
There are tremendous benefits to having software in place to make sure you are in compliance with your industry’s IT regulations. The most obvious one is the ability to produce proper IT compliance reports in the case of an audit, which should allow you to avoid potentially heavy fines and costly downtime.
However, even if you are not required to be IT compliant, there are good reasons to do so. Compliant systems have better security measures in place, so breaches are less likely. Did you know that the average data breach costs companies more than $3 million and more than 60 percent of small businesses will go bankrupt after experiencing a breach? Breaches are devastating to your company’s reputation and can cost a fortune, so it is in your best interest to avoid them.
Maintaining compliance will also make you more attractive to potential clients, who are likely to be far more willing to entrust you with their sensitive data once they know you have taken credible, verifiable steps to ensure the safety of that data.
What Are the Compliance Mandates Impacting IT and Security?
Different industries can have very different compliance rules and regulations with respect to IT and data security. CYBERShark gives you the ability to stay in compliance with all of the major compliance mandates, such as:
- FISMA – All federal agencies can be expected to be asked to show compliance with FISMA, the Federal Information Security Management Act, which requires these agencies to treat their data as a national security issue.
- GDPR – If your company operates overseas, you may need to be aware of the General Data Protection Regulation, or GDPR, which is in place to protect citizens from Europe (specifically, the EU), from data breaches. If any of your client data comes from European clients, you probably need to be in compliance with the GDPR.
- GPG-13 – If you work with businesses in the U.K., you may not have to worry about the GDPR much longer, but you will still have to comply with the Good Practice Guide 13. Its data protection regulations are mandatory for U.K. businesses that work with the most sensitive data and recommended for all other businesses.
- HIPAA – Anyone in the healthcare industry is very familiar with the acronym HIPAA, which stands for the Health Insurance Portability and Accountability Act. HIPAA takes data security extremely seriously, as medical data is among the most sensitive personal data available.
- PCI-DSS – If you handle credit cards or credit card information, you will need to be in compliance with PCI-DSS, the Payment Card Industry Data Security Standard. These are regulations in place to protect consumers from credit card fraud.
- SOX – Those in the finance world know that SOX is a popular name for the Sarbanes-Oxley Act, which holds companies responsible for accurately maintaining at least seven years of financial records.
How Can IT Compliance Management Help Companies Prepare for an Audit?
No one, regardless of the industry, wants to deal with an audit. An audit can send managers into a panic, even if they are sure they haven’t done anything wrong and have made every effort to stay in compliance.
When you use our cloud-based SOC-as-a-service, you can benefit from audit-ready IT compliance reporting. Our software will give you the information you need to produce compliance reports that will show your IT manager and any outside party auditing your organization that you are in security compliance. Reporting your data security efforts is much easier when you have the peace of mind that comes with cybersecurity from CYBERShark.
How Much Does IT Compliance Management Software Cost?
CYBERShark is perfect when you need compliance software for small and medium-sized businesses because we have designed our SOC-as-a-service to be affordable for companies of all sizes. We understand that IT compliance solutions can be hard to come by for smaller companies, and we are here to help.
CYBERShark comes with all the software and protection you need to generate great compliance reports. With all of CYBERShark’s event logging, threat detection, intrusion protection and other comprehensive cybersecurity features, your ability to stay in compliance is simply a great added value. IT compliance reporting with CYBERShark will cost you a fraction of what it would cost to purchase the required security hardware or pay a large internal compliance team.
The cost of IT compliance management will be bundled in with your SOC-as-a-service cost. It will vary depending on your company’s size and needs, but it can be as low as $350 a month, compared to other SOC providers that may charge thousands per month or more!
Why Choose CYBERShark for IT Security Compliance Management Software?
With CYBERShark, you’ll never have to worry about the quality of your cybersecurity compliance reporting. You will be able to easily generate perfect IT compliance reports whenever you need them.
We have gathered a tremendous amount of experience that we are ready to put to work for you. Our team of cybersecurity engineers operates at the highest level. They are constantly updating their knowledge and putting our vast resources to work on protecting your system with 24/7 monitoring, advanced correlation, superior threat detection, real-time alerts and more.
Our program does not require you to install any new hardware, so it is easy for you to scale, and as your IT security compliance needs grow, we can grow with you.
We have provided top-level cybersecurity and impeccable IT compliance reports across industries, including industries with some of the most rigorous compliance requirements.
We also offer a white label option for our SOC-as-a-service for managed service providers (MSPs) or others who wish to offer top-of-the-line security and advanced correlation under their own brand name.
It’s easy to see how effortlessly you will be able to produce IT compliance reports when you have seen how the software works. Just contact us to schedule a free demo of our SOC-as-a-service. Then, if you’d like to start your subscription or learn more about IT security compliance reporting and how CYBERShark can help, call us up at 844.564.7876 or contact us online right away.