If you run even a small business, you’ll know just how difficult it can be to work your way through the complex maze of regulations, laws, and policies that are designed to protect customer privacy and secure your data.
Failing to comply with these regulations can lead to legal trouble and potentially crippling fines, ruining your company’s reputation in the process. This means that it’s imperative that you manage to stay on top of all of the regulations that affect your industry.
Fortunately, remote compliance management technology is starting to allow companies to automate their compliance processes. Finding the right solutions will make worrying about regulations a thing of the past – read on to find out how.
What is compliance management and why is it important?
How can remote compliance management solutions help?
As this graph shows, companies face a range of serious challenges when setting up a compliance management system. With 39% of teams saying that resource capacity is their biggest problem, it makes sense that automating large amounts of compliance management would be invaluable.
This is why remote compliance management solutions can revolutionize your regulatory compliance. By automatically monitoring your compliance protocols and establishing a clear image of all of your sensitive data and potential risks, this software will simplify your compliance management. Here are some of the most helpful features of remote compliance management solutions:
1) Real-time analysis and notifications
A common feature of most compliance management software is a dashboard that monitors all compliance-related actions in your department or company. The software will be aware every time that a computer on your network accesses sensitive data, for instance, and can analyze whether or not this access is likely to be compliant.
You don’t have to worry about constantly monitoring the software’s dashboard, as it will send you alerts if anything has changed with regard to the data. This can be especially useful for preventing cyberattacks, as you could respond to multiple failed login attempts, for example.
2) Automated workflows
As well as monitoring compliance-related issues, you can also use compliance management software to set tasks and manage how your team works with documents; this can be automated so that your workflow is automatically updated each week.
Setting your workflow through compliance management software will make sure that each step is perfectly aligned with your compliance protocols and won’t break any regulations. By simplifying the workflow process, you’ll also be sure that each member of your team knows their role – reducing the likelihood of compliance mistakes.
3) Encryption and security
It would make little sense for your compliance management solutions to risk falling foul of data privacy regulations themselves, so it’s not a surprise that most compliance software includes strong and effective encryption.
They will make sure that documents are stored securely, while they’ll also ensure that you’ve encrypted any sensitive data. Access to the software itself will also likely be well-protected, making them a perfect cybersecurity risk assessment example. Without compliance management software, you risk leaving your data unprotected.
4) Password and account management
5) Ease of access to data
6) Automated data reports
What to look for when finding compliance management solutions
1) Platform support
2) Privacy policies
With software that will have access to all of your company’s saved data, you’ll want to make sure that it is as secure as possible. Look for solutions that offer protection such as multi-factor authentication for each new login and that have strong encryption processes. At the same time, you’ll want to make sure that the software aligns with your brand’s general privacy policies.
3) Pricing and payment structures
As with any new piece of software that you choose to invest in, you’ll want to make sure that you get value for your investment. You should contact vendors directly to try to find a better price or a bulk deal.
However, you should also be careful not to simply choose the cheapest solution. Compare the specific services offered by each vendor and make sure that your final choice is right for you. Investing in a high-quality compliance management solution will pay off over time.