Even after the implementation of stricter rules and regulations, organizations face compliance challenges regularly. Society is heavily relying on technology now, so bringing out more laws was the only way out. In this article at ProV International, discover the five compliance challenges companies face today.
Challenges of Today’s Businesses
If you are in the healthcare industry, you must be compliant with HIPAA. If you are on a government contract, conforming with DFARS is a must. While some companies remain ignorant of new regulations, others fail to upgrade themselves. Committees passed these laws to help companies and individuals alike save their data and reputation. Comply to avoid paying penalties. Let us find out about the various compliance challenges that companies face:
Bring Your Own Device: The BYOD policy has allowed employees to use their own devices for official work. Though companies were able to match up with the employee demands, they are yet to enhance their security protocols. Lack of proper device management policies creates compliance challenges for these organizations.
System Upgrades and Patches: Due to the growing popularity of cloud technologies, organizations have adopted ERP applications. These tools need regular upgrades and patches to work efficiently. If you handle it wrong or keeping delaying the patchwork, they can cause compliance challenges. The Equifax breach is a formidable reminder.
The IoT Connectivity: Compliance challenges are rampant for IoT devices because they connect to several devices at once. You need to automate or have a security developer always on the lookout for loopholes and vulnerabilities.
General Data Protection Regulation: Came into effect in 2018, GDPR is the first of many laws that will come out to safeguard data privacy. It is especially applicable for EU citizens and any businesses that are dealing with the citizens’ data. If you fail to comply, you will have to pay 4 percent of your annual global turnover.
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