Discover what great technology looks like!

What Compliance Reporting is Your Business Required to Do?

What Compliance Reporting is Your Business Required to Do?

Some industries require more compliance than others, as they deal with sensitive data on a regular basis. In efforts to protect this data, governments and agencies have implemented laws, regulations, and other requirements to ensure businesses remain compliant with this expectation.

Today, we’re focusing on how businesses prove their compliance through the process of compliance reporting.

Understanding Compliance Reporting

Imagine that your organization is required to adhere to various standards and regulations. If you were to be audited, a compliance report would help establish that you are doing what you are supposed to. It’s an easy way to prove to governing authorities that you have done your due diligence and that your company is taking its data seriously.

You can think of a compliance report as a progress report for your level of compliance. The report itself basically gives your business a frame of reference to ensure that its decision-making process is in line with what the auditor expects. As a managed service provider, we are mostly concerned with compliance standards that are directed toward your company’s IT and the data contained within.

Standards that Compliance Reporting Could Benefit

There are several industry-specific standards that your organization might need to report on, including the following:

Health Insurance Portability and Accountability Act (HIPAA)
HIPAA sets the standards for how a person’s health information must be protected and safeguarded.

National Institute of Standards and Technology (NIST) Cybersecurity Framework
The framework established by NIST provides businesses with established security best practices that can help them minimize risk.

Payment Card Industry Data Security Standard (PCI DSS)
Businesses accepting card payments must ensure they are following the data security standards associated with this form of payment. These standards are also required for applications to accept transactions in this way.

General Data Protection Regulation (GDPR)
Any business collecting data from citizens of the European Union must abide by the regulations set by the GDPR.

Of course, there are other regulations too, but these are some of the more important ones to keep in mind. Each of these impose fines or other penalties on businesses that fail to comply, so it’s your duty as a responsible business owner to ensure you meet these standards and adhere to these regulations.

Are There Compliance Standards You Need to Meet? We Can Help!

Techworks Consulting, Inc. can help your business with maintaining compliance with the various standards and regulations you might be expected to adhere to. To learn more, reach out to us at (631) 285-1527.

Features to Seek Out in a Note-Taking Application
As Remote Work Continues, Zero-Trust Security is P...
 

Comments

No comments made yet. Be the first to submit a comment
Guest
Already Registered? Login Here
Guest
Friday, 29 March 2024

Captcha Image

Contact Us

Learn more about what Techworks Consulting, Inc. can do for your business.

Call Us Today
Call us today
(631) 285-1527


Headquarters
760 Koehler Ave, Unit #3
Ronkonkoma, New York 11779

HIPAA Seal of Compliance” width=

HIPAA Seal of Compliance” width=

Latest Blog

Running a business can be tough and result in a lot of frustration from staff, management, and customers. Sometimes that frustration can boil over and cause consternation among the core elements that need to function for a business to be su...
TOP