November 22, 2017 - Reny Pebriasari
Need to Pass Compliance Standards for Your Company? Leave It To Your Provider
When we think of “compliance” we tend to think of companies who work in the Payment Card Industry or the Healthcare Industry, who have to take consistent and proactive measures to adhere to compliance standards. However, though PCI DSS and HIPAA may ring a bell for most people, it’s important to recognize that there are different compliance standards for each industry. Whether your company is in finance, business, medicine, etc., cybersecurity is a risk for everyone, and it needs to be taken seriously.
That being said, it’s not always as easy as it sounds. Companies first need to be aware what kind of compliance laws apply to their business, and how they can set up the best infrastructure to reach those compliance goals.
Not sure where to start?
Then leave it to your provider to get you situated, get you and your customers protected, and of course, prepare yourself for auditors.
What Compliance Category Do You Fall Into?
So, we’ve got healthcare and payment card industries pretty much covered. But, there are a lot of companies outside of these categories that need to follow compliance policies as well, since they are dealing with some kind of sensitive information. To give you an idea, here are some examples of companies who have more serious compliance needs:
FISMA – FISMA stands for the “Federal Information Security Management Act” which was implemented by the U.S. government in order to protect sensitive government information against threats. It’s meant for companies who work with federal agencies or with federal contracts to keep information out of the wrong hands and ultimately keep risks low. FISMA Compliance is monitored by the National Institute of Standards and Technology (NIST).
GLBA – GLBA, or “The Gramm-Leach-Bliley Act” was passed nearly twenty years ago to ensure that financial institutions — such as those that offer loans, insurance, or financial consulting — are held responsible when it comes to how they handle the private information of the individuals they serve. This category of compliance makes sure these companies are safeguarding sensitive data and are transparent with how they manage information-sharing.
SOX – Do you invest some money in stocks? Whether you do so as an individual or as a company, the “Sarbanes-Oxley Act” oversees enterprises to make sure there are no fraudulent practices or accounting errors. This is done by forcing these companies to give full disclosure about their operations. Essentially, SOX is there to help eliminate financial scandals by forcing these companies to keep all business records and messages on file through appropriate data classification tools.
There are other types of compliance categories as well, including specific certifications to grant compliance in one area. Some examples of these are AES-256 Protection or FIPS Certification 140-2.
Not sure what you need?
Most companies should already know very well what they need to be compliant in. But, managing and achieving that compliance may be way out of their expertise — and, actually, it should be. No company should be managing their own compliance, except for what their managed hosting provider instructs them to do on their end.
Concerned about compliance? Wowrack provides regulatory compliance for a number of different industries, all under one roof. Contact us to learn more!
On the Right Path to Compliance
Companies who don’t follow compliance laws are seriously putting themselves and their customers at risk. Between hefty fines, ruining your business’ reputation, and even the possibility of imprisonment, failure to have your company prove its compliance isn’t up for debate.
Furthermore, if it’s going to be done, it needs to be done correctly. This is why it’s important to turn to a professional and experienced managed cloud hosting provider who will take care of your infrastructure, documents, monitor your security risks, and stay up to date with compliance laws so you don’t miss a beat.
Managing compliance standards can be stressful. Thankfully, your MSP can take it off of your hands and lift that weight off your shoulders.