Transforming Compliance to Enable Digital Transformation

Business has been transformed from the PC and corporate networks to mobile devices and cloud computing. Digital transformation is readily available to every organization but requires cybersecurity and compliance. No matter how the future unfolds, one thing is for certain: the mandate to transform business models and digital capabilities will only grow more urgent, not less.

When it comes to compliance, there are more than a dozen common security frameworks and dozens upon dozens of regulations. Just thinking about the magnitude is dizzying. But while the number of standards and their importance has increased, the sophistication of most organizations has not.

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Unfortunately, that means many organizations are not thinking about compliance at a strategic level. They understand that they are required to comply with industry and government mandates, or that they need to demonstrate compliance in order to do business with more demanding customers, but many organizations are approaching these challenges tactically – at an ad hoc or transactional level.

The goal of strategic compliance is to streamline the audit process:

  • Eliminate superfluous audit assessors and select a single technology-enabled service provider.
  • Leverage technology to centralize data collection efforts.
  • Develop standardized policies by mapping controls across multiple compliance frameworks.
  • Conduct an annual audit program that can address all compliance requirements.

If an organization can adopt strategic compliance, it will make a demonstrable impact on their ROI with reduced costs and saved time, which frees its employees for more meaningful work. New standards can improve interoperability and integration across products and services.

The Future is Here

If the future delivers on its promise of flying cars we may not need roads, but when it comes to strategic compliance, we still need a roadmap. Motivational posters may encourage us that “success is a journey, not a destination,” but strategic compliance is both.

There are goals an organization can set to achieve strategic compliance: consolidate audits with a single service provider, performed once per year and establish standards across all common security frameworks. Yet strategic compliance is ongoing. It requires a continuous assessment of business processes, constantly changing compliance requirements and anticipating customer needs.

Organizations that follow this path will not only achieve strategic compliance; they will transform their business. Businesses that conduct tactical audits want to be seen as trustworthy. Businesses that conduct strategic compliance want to see the new opportunities the world has to offer.

Strategic compliance is a growth engine that is driving digital transformation.

 

Learn how an ongoing compliance strategy can streamline your audit process and elevate your business by speaking with our experts or by downloading our complimentary eBook.