As the internet continues to play an ever-increasing role in modern life, the need for keeping people’s data secure is also rising. Companies across all industries cannot afford to ignore the importance of IT security compliance or their digital hygiene, and many are hiring experts to ensure this important aspect of a business is given proper attention.
Areas Of Compliance
IT organizations must have a thorough understanding of the compliance laws that apply to their industry. Legislation surrounding IT security is constantly evolving, and violations can bring about harsh penalties and steep fines. IT security services can help businesses be compliant in the following areas:
The European General Data Protection Act, or GDPR, applies to all businesses that process the personal data of people who reside in the European Union. This is true even for companies that do not have a physical location or base within the EU.
Companies can only collect data from users who have opted into the data collection process and must “forget” users when requested. The fines for not complying can be as much as 20 million dollars or 4 percent of the company’s annual worldwide turnover.
The Health Insurance Portability and Accountability Act, or HIPAA, contains regulations governing healthcare patients’ data security. It applies to any business that handles healthcare data, including hospitals, clinics, and insurance companies, and must be followed whenever this data is handled. Fines can range from $100 to $50,000 per violation.
The Payment Card Industry Data Security Standard is a set of rules aimed at decreasing fraud by protecting consumers’ credit card information. All businesses that handle credit card information are required to comply with PCI-DSS; failure to do so can result in fines between $5,000 and $100,000 per month.
How IT Security Compliance Helps Businesses
In addition to avoiding fines, businesses can enjoy many other benefits from remaining compliant with their IT security practices, such as:
Improved Customer Relations
Data breaches are a growing problem, and they can cause irreparable harm to a company’s reputation. In addition to the costs and penalties a business incurs from a data breach, they must notify customers about the problem and try to repair the relationship. Ensuring compliance from the start can prevent this scenario entirely and allow companies to enjoy positive customer relations and a strong reputation.
IT organizations that have put the effort into maintaining compliance with guidelines specific to their industry are often hesitant to partner with those who have not done so. Maintaining IT security compliance shows others in the industry that a business is willing to perform due diligence and protect data security, which can improve its image and position it as a trustworthy name in its industry.
In the process of implementing security tools and applications to meet privacy requirements, many companies realize that they are not using their assets or personnel as efficiently as they could be. Some businesses find they can reduce their data storage costs or use the demographics of opt-in lists to inform marketing strategies.
If your organization is looking to streamline compliance and reduce risk, get in touch with the experts at SeaGlass Technology to find out how their innovative IT security offerings can help.
Reach Out To An Experienced IT Security Compliance Firm Today
SeaGlass Technology aims to provide companies with a deeper understanding of what potential security threats they face and how they can protect their business from these risks. Our knowledgeable IT security compliance experts are able to give your company a competitive edge by always remaining vigilant and aware of any IT security compliance issues that could threaten both your reputation and bottom line.
As a New York City managed IT service provider, we help companies of all sizes manage their IT systems so that they can remain compliant and focus on running their business. To learn more about our IT security compliance services, call our specialists at 212.886.0790 or schedule a free consultation online today.