IT was once that mysterious department housed in the back corner of the building, but those days are long gone. Now, IT is well-known for being the central nervous system of any organization, the core infrastructure that connects employees and enables workloads. The significance of IT security frameworks is recognized by everyone from the board of directors to customers, although the mechanisms for IT compliance may still sound like an unfamiliar language to many of the stakeholders.  The landscape of IT compliance is ever-evolving, but the past year has seen especially heavy changes as cybersecurity and privacy regulations are increasing at a record pace. Even if your stakeholders don’t speak the language, all levels of personnel know they have a direct responsibility for maintaining compliance protocols, whether on-site or working remotely. 

Technology compliance standards may be complex and actively changing, but it is critical to always stay ahead of the growing trends. 

1. Cybersecurity Risk Mitigation 

Major players are falling prey to ransomware and cyberattacks, with names like CNA Financial, the Colonial Pipeline, and the SolarWinds attack all making headlines. While cybersecurity has always been a concern, it has become the primary vulnerability now that data is often a business’s most valuable asset. As a result, requirements for cybersecurity are growing as existing standards tighten the leash on data protection.  Here’s what that means for you:  If your business compliance standards include HIPAA, PCI, SOC2, NIST, or other such regulations, a data breach of this sensitive information can result in big fines and costly remediation. And that doesn’t even take into consideration the hit to your reputation and trustworthiness. 

2. Regulatory Changes 

According to a technology industry survey by Hyperproof, 86% of US respondents are preparing for regulations regarding federal privacy and security standards. We’ve already seen trends in that direction, like the GDPR (EU General Data Protection Regulation) and CCPA (California Consumer Privacy Act).   The U.S. Department of Defense’s (DoD) Cybersecurity Maturity Model Certification (CMMC) is one of the latest changes instituted by the government to ensure that all third-party defense contractors are adhering to the highest cybersecurity standards. Contracts requiring CMMC are already in place, and the DoD expects supply chain certification to be achieved by 2025. 

3. Data Privacy 

Data privacy has been a growing trend, one we expect to continue for the foreseeable future. Legislation for data privacy compliance may be a slow-moving giant, but it is moving. And while increasing regulations show the momentum of this movement, it’s not the only reason data privacy needs to be on your radar.  While compliance with local data privacy laws may be the impetus for your organization to take a deeper dive into how Protected Personal Information (PPI) is secured, your clients want to know what you’re doing to protect their sensitive data. The vast majority of customers are taking notice: 93% of consumers say they consider the trustworthiness of an organization before making a purchase, according to Arcserve.   To keep the continued confidence of your consumer base, you need to make data privacy a prominent feature of your services, and make sure your customers know it.  RELATED: Why Customer Data Protection Should Be at the Top of Your Priority List 

4. Third Party Awareness 

Your customers may not have an avenue for requiring compliance when it comes to security and data privacy, other than to vote with their dollars. But some third parties are increasingly requiring robust security frameworks and taking a look under the hood to ensure that organizational compliance is more than talk.   For example, insurance companies want to see evidence that your cybersecurity is ironclad when potential data leaks are one of your biggest vulnerabilities. Because they want to avoid a payout from a security incident, poor cybersecurity can leave a business uninsurable.  And as with the CMMC, private sector supply chains have directed their attention upstream, sending security requirements to suppliers to ensure that their data is safe.   Third parties like these now send auditors to seek out vulnerabilities and guarantee that they, as stakeholders, are actively protected. 

5. Lack of Qualified Candidates 

Given the enormous increase in technology compliance standards, it’s no surprise that the talent pool cannot keep up with demand.   IT compliance resources are often folded into existing IT structures and budgets, instead of being standalone programs. The net result of stretching these resources so thin is alarming:   The majority of organizations say they manage IT risks reactively after a negative event occurs.  Software solutions are typically the easiest way to bridge this gap. Of course, there are a growing number of compliance regulations – all subject to change – which makes organizations vulnerable without a customized solution.  Another approach for savvy businesses is to outsource their risk and compliance teams. This involves contracting out to experts who are charged with making sure that regulations and security frameworks are prioritized daily, instead of only when it’s time to pass an audit.  RELATED: Have You Connected the Dots Between Compliance and Your Security Framework? 

Partner With Virtual Systems for a Comprehensive IT Compliance Strategy 

Business resilience is becoming increasingly complicated with the adoption of compliance standards in every industry. Trying to keep up with the changes can be resource-intensive and difficult. Partnering with a skilled, knowledgeable team like Virtual Systems allows you to focus your resources elsewhere, confident that your security frameworks are tailored to meet all your IT compliance regulations.   Virtual Systems provides smart compliance information systems solutions for clients who need to adhere to standards and regulations like HIPAA, SOC 2, SOC 3, FFIEC, PCI, DSS, GLBA, GDPR, and more. If you want expert guidance on the best way to keep your business ahead of compliance trends, contact us today.    References  Hyperproof. (2021). 2021 IT Compliance Benchmark Report. City, ST: Name of Publishing Organization. Retrieved from https://hyperproof.io/it-compliance-benchmarks/  Arcserve. (2020). RANSOMWARE’S STUNNING IMPACT ON CONSUMER LOYALTY AND PURCHASING BEHAVIOR. Eden Prairie, MN: Arcserve, LLC. Retrieved from https://goto.arcserve.com/Global-Ongoing-eBook-Download-Guide-to-a-ransomware-free-future_eBook-LP.html