Four Reasons to Upgrade Compliance and Security through SIEM/SOC
Today’s technology leaders operate on a multi-dimensional battlefield when it comes to managing cybersecurity and regulatory compliance for their...
4 min read
Valeo Networks : Dec 13, 2023 8:00:00 AM
Risk management is the process of identifying all possible risks to your business and building a plan to prevent or counteract them. This includes adhering to data security standards and developing a comprehensive IT compliance strategy. From security cameras to data backups, risk management encompasses a broad spectrum of concerns and solutions. However, paramount to risk management is IT compliance, ensuring that all IT practices align with legal and regulatory standards to mitigate risks effectively.
IT compliance is a pillar of effective IT compliance and risk management strategy. This is because the many regulations, laws, and data security standards regarding business IT were built in response to known risks. In many ways, you can see IT compliance strategy as a form of risk management that you can enact without the prerequisite of extensive observation or research.
IT compliance provides solutions to known risks that you can enact immediately, adhering to various data security standards. Of course, it is also important to align your IT compliance strategies with your business objectives to achieve optimized risk management that is harmonious with your workflow efficiency.
Every business should know the regulatory frameworks they must - or choose to - comply with and the standards set by those frameworks within the scope of IT compliance strategy and risk management. These frameworks and standards are crucial for ensuring data security standards are met and maintained.
Among the most common frameworks and standards in the context of IT compliance and risk management are PCI-DSS, GDPR, HIPAA, and NIST.
Depending on the industry of your business, compliance requirements set the bar for risk mitigation within IT compliance and risk management strategies. Compliance regulations are typically designed to ensure you are running a safe and reliable business, adhering to the highest data security standards.
The modern digital landscape is rife with potential risks, both internal and external. Many of these risks are dynamic in nature because the digital landscape itself changes constantly. Both the introduction of new technology and software and the constantly evolving threats from live hackers keeps the business world on their cybersecurity toes.
IT compliance and risk management were built from an understanding of both the static and dynamic IT risks that all businesses face in the modern environment. Incorporating IT compliance strategy into business operations helps address these risks effectively. Businesses are the constant focus of hackers and automated malware because, whether the hacker is after money or salable data, even the smallest business is a treasure trove.
Each industry also has unique IT security risks, and regulations that focus on these industries, along with data security standards, provide an easy path to pre-determined risk mitigation through IT compliance. This approach ensures that companies adhere to the necessary IT compliance strategy and data security standards, reducing their exposure to potential threats and enhancing their overall security posture.
While there are many different regulatory frameworks that provide IT risk management solutions, they often share a few core elements that serve as universal best practices for business data security.
Encryption provides a way to mask data so that it cannot be read or used, even if stolen. End-to-end encryption involves keeping your data encrypted at every stage of storage and use so that it cannot be stolen from archives or read while in transit.
Only those logged into an authorized software portal will view the data in an unencrypted state.
Continuous monitoring allows managed IT service teams to enact both live network monitoring and AI-assisted monitoring. This process takes a baseline of your data activity and then alerts on any variations to identify malware and hacking attempts in real-time.
Incident response plans direct the way your company responds to an active or discovered data security breach. It includes the people who will take charge, the recovery steps to be enacted, and in the case of a live attack, the protocols to lock down and even trap the malware to minimize harm and potentially analyze.
In addition to robust cybersecurity measures, you also need employee training for data security. Employees who understand data security and it's best practices will be better protected against social hacking, will be cautious in their handling of secure data, and can report suspicious signs they notice on company systems.
The single biggest challenge to IT risk management and compliance is the hacker community. Modern technology has made it possible for hackers to loosely work together to pool information and skills, sharing vulnerabilities they discover in common systems or selling each other malware programs to spread. This dynamic environment highlights the critical importance of IT compliance and risk management strategies in safeguarding data security standards.
This has created an evolving landscape of IT risks that the data security industry, adhering to various data security standards, is working constantly to counteract. This is why keeping up with software updates and security patches has become vital for IT compliance strategy.
In addition to the ever-changing hacker threat, introduction of new technology can also create risks such as incomplete system transitions and the need to constantly retrain staff on the security of each new tool. These developments underscore the necessity for an adaptable IT compliance strategy that can accommodate the rapid evolution of technology and the associated risks.
It is important to practice risk management analysis at all times in order to predict future challenges and risks. Employing comprehensive IT compliance and risk management practices is essential for organizations to navigate the complex landscape of modern IT threats while adhering to established data security standards.
Every company must strive to integrate IT compliance and risk management strategies into their overall risk management strategy. This involves
Through these measures, you will be able to create a proactive approach to risk identification and mitigation in regard to business data security standards. To learn more about the unification of IT compliance strategy, risk management, and data security standards - and how to achieve them for your business, contact Valeo Networks for support and information on our service offerings.
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