To avoid any compliance issues, companies need to be aware of which IT regulations apply specifically to them. However, trying to figure out which ones specifically pertain to your business can be tricky.
The growth of technology has led to ever-changing compliance standards. Unfortunately, the same technology that makes processes easier for companies also becomes a liability if it’s not used and regulated properly.
It can be difficult to stay up to date with the latest IT regulations, but it’s vital to remain knowledgeable so that your business can avoid any potential issues. We’ll outline the importance of IT compliance and how to ensure that your company is meeting expectations when it comes to regulations.
Why My Company Should Care About IT Compliance
Any business that operates online or uses technology in any way needs to be aware of IT compliance standards. With an average of 600,000 new users on the internet per day, updates to security are constantly expected.
And as technology evolves and changes, so do the compliance standards that businesses need to meet. If your company doesn’t meet these standards, it could face serious legal penalties and security issues.
Your customers also count on your company to protect their personal and sensitive payment information. If you don’t maintain updated compliance standards within your company, you’re making that private information more susceptible to cyber criminals. This can cost your company the trust of its most dedicated consumers.
IT Regulations and Who They Apply To
Understanding why certain standards are important for your company to follow leads to the question of what specific regulations apply to your company. Here is a list and description of some common IT regulations that apply to many companies:
- Health Insurance Portability and Accountability Act (HIPAA) – This regulation was put in place to ensure that patients’ protected health information (PHI) is kept confidential. Whenever a company deals with a person’s health records, they must ensure that they are HIPAA compliant.
- Federal Information Security Management Act (FISMA) – The act requires all federal agencies to develop, implement, and annually update an information security plan that meets certain requirements. FISMA also requires agencies to protect information systems from unauthorized access, use, disclosure, disruption, or destruction.
- Payment Card Industry Data Security Standard (PCI DSS) – The PCI DSS is a set of security standards that were created by the major credit card companies to help protect cardholders’ data. Any company that processes, transmits, or stores credit card information must meet these standards.
- General Data Protection Regulation (GDPR) – GDPR is a set of regulations that was put in place by the European Union to protect the privacy of digital data. Any company that operates within the EU or collects data from EU citizens must meet GDPR compliance standards.
- Sarbanos-Oxley Act (SOX) – SOX is a U.S. Corporate Governance law that was enacted in 2002 in response to the Enron scandal. The law was designed to protect shareholders and investors from accounting errors and fraudulent practices by public companies.
- Telephone Consumer Protection Act (TCPA) – This law was enacted in 1991 in response to the increasing use of auto dialers and prerecorded messages. The TCPA prohibits companies from using auto dialers or prerecorded messages to contact consumers without their prior consent.
- Family Educational Rights and Privacy Act (FERPA) – FERPA was enacted in 1974 to protect the privacy of student education records. The law applies to any school that receives federal funding. Schools are not allowed to release any information about a student without the student’s consent.
First Steps to Compliance
The first step to ensuring your company’s compliance is to assess your business practices and identify any areas that could be in violation of compliance standards. Once you know where your company needs improvement, you can begin taking steps to become compliant.
Working with a qualified IT provider streamlines the process of making sure your company is up to date with the latest requirements that apply to your business. We will make sure you are operating in accordance with regulations to certify your customers’ trust.
Partner with the Compliance Experts at Tech Rockstars
At Tech Rockstars, we have the experience and expertise to ensure your company is in the know with the latest IT regulations. Our team of experts will work with you to make sure all of your business practices are in line with industry standards.
Give us a call today to begin assessing your company’s compliance needs.