Meet Regulatory mandates with Enterprise Compliance Management Solution
With businesses opportunities expanding globally, business houses today have to address the regulatory requirements of countries in which they operate. Regulatory mandates, though may initially appear to be constraints, would do well to the business houses, in setting up processes to help meet these requirements.
Traditionally, manual systems, and at times, stand-alone applications have been used to manage various compliance processes to meet the needs of specific users. Today, these regulatory compliance initiatives have become more demanding.With an increasing number of regulatory requirements, companies are forced to make additional IT investments for ensuring compliance with each of the regulations. Looking at multiple solutions to meet various regulatory requirements can be more time consuming and expensive with process and documentation efforts getting repeated. Such isolated initiatives reflect gross inefficiency.
For example, regulatory compliance for health care entities is complex, with federal laws providing mandatory requirements and state laws fine tuning these requirements to meet the specific compulsions of the State. These regulations have set deadlines for conformance and non-compliance to such regulatory requirements is likely to attract penalties. Businesses need to opt for an efficient regulatory compliance management solution that will support all their compliance initiatives and give results quickly.
As managing compliance is a continuous process, in a globalized environment, the use of compliance management software makes it easy for organizations to conform to the regulations without any adverse impacts. With automated processes of managing governance, risk and compliance procedures, the enterprise compliance management software mitigates the risks involved for companies.
These solutions simplify the complex and time-consuming process of achieving and maintaining information security and compliance. Such a compliance management framework provides totally integrated automated IT compliance and security solution meeting all security, compliance, and risk management needs. It enables companies to manage regulatory requirements such as, PCI, ISO, COBiT, SOX, BASEL II, HIPAA, FISMA, and other country specific frameworks.
Investing in a comprehensive security and compliance management solution ensures that there is better control over information security and improved visibility of security and compliance status.Such a solution simplifies and reduces the time required for regulatory compliance and certification process, while effectively automating all security, compliance, audit, and risk management needs.
Also read on- vulnerability management, vendor management
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