How does Blending Compliance with IT Security and Data Privacy Bolster Business Analytics?
While few aspects of IT arena are passive, Security Compliance falls in the chart of the dynamic and ever changing active aspects of IT sphere. Starting from the initial days of data protection laws, the post 9/11 Sarbanes-Oxley Act (SOX) in 2002 and multiple EU and UK regulations, Security Compliance has become a nebulous task for IT. However, many incidents saw enforcement of what were regarded as unholy marriages within a company—IT and finance, technical and admin, security and networking—sufficient enough to cater any IT professional with tons of adversities.
All compliance and security standards countering the IT sphere ardently need companies to supervise their network loops in real-time. With the monitoring of networks, the need arises to ensure top notch data security to safeguard their confidential enterprise assets, and to provide audit reports of network compliance to auditors upon request.
To quench the need of conjoining the new Public Services Network (PSN), governing bodies of the companies and local councils have to ensure the compliance of the security connections with the code and protocols of the connection set by the Cabinet Office.
Multiple regulations, such as HIPAA, PCI DSS and Sarbanes-Oxley (SOX) regulate the architecture of compliance for organizations in U.S. Often, organizations either meet the minimum requirements to meet the regulation's requirements, or they converge information security efforts on systems and data that are subject to compliance. This results in adoption of compliance as merely a "check box" exercise in many organizations.
However, if applied scrupulously, security compliance standards possess the potent to strengthen an organization's comprehensive information security front. Integrating compliance with an organization's information security flowchart curtails complexity, saves money and time, and helps in developing long-term, sustainable solutions which prove clinical overcoming of an organization's information security challenges.
An efficient compliance has the potent to strengthen an organization's comprehensive information security system in four critical ways:
Senior management support holds a monumental share of essentiality for an information security program. The information security professionals need to put up with the compliance mandates to get additional interaction with senior managers who often remain negligent about day-to-day information security processes and challenges. Senior managers generally perceive compliance, whereas the concepts of classic information security, like risk curtailment and threat management, tend to land up in the ‘to-do’ job of junior officials in the hierarchy. As senior managers understand that regulations come with unpalatable penalties that have the potential to impact them—fines for PCI DSS non-compliance resulting in diminished revenue numbers or imprisonment for violation of SOX compliance—they oftentimes find themselves keen on securing regular updates about compliance efforts. While focusing on compliance projects, information security professionals should also cover whole nine yards to educate senior managers simultaneously about other important information security efforts, and to diagnose managers' security concerns and risk tolerances.
To preserve privacy and confidentiality of enterprise data
Due to evolution of the digital era, unprecedented opportunities have been observed, which eventually have proved to be silver bullet in conducting business and delivering services over the Internet. Nevertheless, as companies amass process and exchange huge volumes of IT resources in the form of information while addressing these opportunities, they counter challenges in the areas of maintaining data privacy and security, and accomplishing compliance obligations.
On these lines, organizations have started to recognize the need for an integrated approach to meet these challenges which would enable them to undertake the following three objectives in a unified, cross-disciplinary way:
- Privacy-related protective expedients must expand beyond salient aspects of privacy that overlap with security to include vigilant measures. Eventually the focus remains on catching, preserving, and enforcing the choices made by the consumers with respect to when and how their personal information would be collected, processed, used and shared with third parties.
- Data privacy and security compliance liabilities need to be rationalized and addressed through a unified control objectives and control activities.
To maintain integrity of enterprise data
Data integration throughout the organization is a requirement for efficiency of organization’s managed resources. Administrative officials bear responsibility of the integration potential of reporting data generated under their supervision. These responsibilities include:
- Establishing and managing competent data control systems to secure appropriate authorization, security, accountability, and data integrity.
- Ensuring an accurate and timely record of all the financial and personal transactions.
- Ensuring the security, reliability, responsiveness, and accessibility of departmentally developed information systems to meet user’s needs.
- Ensuring the operation of mandatory controls to synchronize, validate and interface with other systems on campus on financial front.
- Equipping system users with adequate training programs.
To ensure a continuous improvement of enterprise
Over the last two decades, information security administration has leveraged compliance on a large scale to get budgets and steer decisions. The impetus behind the legislation of compliance is a result of industries' inability to admit significant frailties in business practices. The imposition of cyber security standards compliance also has the potent to run the development and creation of market demands for products, services and practices. With the rise in demand, the market may experience an increase in the competition between the suppliers which may result in better and faster distribution of secure technologies and practices. And as the implementation of the whole thing, many nations are up with the certification schemes to bolster the use of cyber security compliances for their industries.