Security promotes progress in addition to reducing threats. Learn how an automated security and compliance programme can help you achieve SOC 2, HIPAA, or ISO 27001 requirements, enhance your security posture, and more by watching this VB On-Demand event.
Cybercriminals are becoming more intelligent, their attacks are constantly changing, and their victories are leaving a lasting impression. From one-to-one text phishing attacks on workers who post about new positions on LinkedIn to the “unprecedented” campaign against the Costa Rican government that brought most of their infrastructure to a standstill and caused losses of $125 million over 48 hours, assaults are scaled with ease.
The sophistication, according to Kaitlin Pettersen, vice president of customer experience at Vanta, is noteworthy. “The appearance of legitimacy is increasing. They’re becoming wiser. The financial and reputational cost of these data breaches is significant, and they are becoming more strategic.
Customer trust can be quickly lost but is difficult to regain, which has an immediate effect on your revenue. Large fines are assessed globally for GDPR violations, but smaller businesses may also be financially impacted. The CCPA in California allows customers whose data was exposed to a breach to file legal claims. Even if the cost per event may not be high, when spread among all of a company’s clients, it quickly mounts. It’s a blow to your company’s trajectory when coupled with the reputational harm.
Compliance and security, in addition to reducing risk, are fantastic for company since they help draw in and keep clients, she continues. For example, SOC 2 accreditation shows an organization’s capacity to properly protect the privacy and security of customer and client data and is the most sought-after security framework for SaaS enterprises in growth.
However, automation and technology are now available to ease the strain and make it much simpler than it used to be to prevent attacks and fines. This is especially true for smaller businesses without specialised positions dedicated to security issues.
It requires both security and compliance, or the continuing procedures and guidelines you put in place to look after your customers’ data and safeguard your company’s reputation. Your excellent security posture is demonstrated by it and the accompanying standards, especially as new standards are developed.
The best defence is actually a good offence, contrary to the cliche that may be overused, claims Pettersen. Businesses will be kept safe from attacks and costly fines by standing up, keeping good security procedures, and being compliant. However, it’s much easier said than done.
The Impact of automation on compliance and security
Growing numbers of companies, especially larger ones, regard compliance and security as prerequisites for doing business with any partner or provider as dangers continue to increase.
Building a strong security posture and being able to prove it will help businesses flourish and actually provide them economic strength in both good and bad economic times, according to Petersen. This is because it will help to swiftly and easily gain the trust of potential clients and customers. And using automation to get there more quickly and successfully will aid small, medium, and large enterprises in closing more and bigger deals.
By combining an automated compliance platform with a guided audit experience, from onboarding to final reporting, a security and compliance platform like Vanta lessens the burden of security and compliance. It connects with widely used cloud services, identity providers, task trackers, and other tools to automate the difficult and time-consuming effort of compiling evidence for security audits. It also performs hourly system checks to make sure compliance is in place.
Companies can properly onboard and offboard personnel, fix problems from failed tests, and manage policies and records in one location with the use of centralised organisational security. It provides transparency into activities involving employees, such as background checks and security training. It can identify, assign, and fix problems as they arise with two-way task tracker integrations. Anywhere in the business, ongoing monitoring detects activity that is inconsistent with security policies. Additionally, a dashboard provides real-time updates that show the security and compliance status of an organisation.
Keeping up with the shifting security and compliance environment
You should receive useful content and tools from your security and compliance partners and providers, according to Pettersen. In addition to helping you understand what a good security posture is, what it means to reduce risk, and why compliance is so important to successful enterprises, it is the obligation of firms like Vanta to give you with a solution that enables you to accomplish this better and more successfully.
Don’t miss this VB On-Demand event to find out more about what compliance requirements your business needs, how to minimise security risks while guaranteeing continuous compliance, how automation is changing the game, and more.