Compliance Technology: A Strategic Approach toward Information Security Risks

By CIOReview | Monday, November 12, 2018

Today, several human intervention operations rely on artificial intelligence techniques, robots, machine learning, and big data for achieving day-to-day activities. Multiprocessing activities have made it difficult to keep track of new regulations and agility of the organization. Moreover, at the time of data transmission or integration, there arise some critical challenges such as hardware or software mismatching, data loss or theft, and security.

Today, the advancement has led to an increase in machine-based applications, especially in the medical and banking sectors—information security acts as a critical constraint. Furthermore, the lack of an efficient cybersecurity program tends to forfeit trust and regulatory compliance, which leads to a reduction in the internal growth of businesses which suffer from security threats. These limitations can be overwhelmed by deploying compliance technology in an organization.

Through compliance technology, high-end control capabilities can be achieved along with mitigation of crime risks; it helps alleviate the pressure due to security risks. Reetu Khosla, Global head of lifecycle management, Pegasystems Inc., suggests that the industries will suffer from technology apocalypse in the upcoming years, due to the high amount of transparency and lack of control over technological aspects.

With evolvement in IT security market, there arise new challenges and regularity bodies which frequently face the issues regarding new compliance guidelines. International Standard Organization (ISO) and Committee of Sponsoring Organization of the Treadway Commission (COSO) are frequently updating the standards concerning real-time scenario. To cope with these changes, an organization should have a central locality to monitor and control these changes. This is where automation compliance technological solutions step in.

Automated compliance comprises of advanced software security protocol, designed to handle compliance tasks on behalf of an organization. The target that is to be achieved is processed through the workflows, schedule recurring events, and the rest will be taken care from software analysis. Through this process, the time consumed for tasks such as auditing and scheduling can be minimized along with achieving efficient compliance.

So far, there have been numerous AI compliance technologies comprising machines to carry out monotonous and time-consuming tasks. Selection of specific technology depends as per the business requirements and its capability to complete the task efficiently with universally accepted standards. Since security is the primary concern, malicious actors are always looking for new vulnerabilities. It is always essential to upgrade the technology solutions with new versions and find the right compliance technology to enhance a company’s maturity and thus achieve business objectives.

Check out: Top Risk and Compliance Solution Companies