Glossary

Compliance Automation Software

Security and compliance have always been critical tasks in business operations, and management teams have always been looking for ways to prevent incidents from occurring and compromising on the reputation of the company. With non-compliance costing businesses over $4 million in lost revenue, it’s no wonder why this topic has been discussed in great detail in recent years.

And in today’s corporate culture of efficiency and thoroughness, it’s no surprise that automation and software are starting to play a role in compliance management. Any forward-thinking business owner or executive must be aware of compliance automation and its ability to enhance the way we approach cybersecurity and adherence to legal regulations.

Compliance Automation Software

How Automation Software Applies To Compliance

In the past, compliance tasks were handled entirely by staff, from manual data entry to checks and inspections. But as industry regulations and security risks became more complex and inconstant, the need for a more efficient and streamlined way to approach the workflow arose.

The objectives that could benefit from automation include:

  • Risk assessments and testing
  • Planning out corrective actions
  • Implementing controls and evaluating their effectiveness

When it comes to regulatory compliance, automation is necessary to provide accurate and up-to-date information on the latest laws. Data privacy regulations, for instance, change often, and businesses are expected to be on top all the time. The same principle applies to industry-specific legal requirements, such as the healthcare industry’s HIPAA.

Businesses implement automation-powered compliance by inputting their own relevant policies and the industry-specific regulations that they need to follow. The software then performs tasks via rule-based instructions and helps identify violations in the company’s operations.

How Compliance Is Enhanced By Automation

The specific advantages of IT compliance automation address the increasing demands of compliance objectives today.

  • Better cost-efficiency: Like any application of automated software, removing manual labor from the compliance process cuts down on the cost without compromising on thoroughness.
  • More accurate reporting features: Automation software often comes with compliance reporting as a built-in feature. The result is having data presented to you for easy collation and decision-making.
  • Stronger performance: Automation helps reduce the frequency of security breaches and non-compliance incidents. It does so by continuously verifying new regulations and cybersecurity risks.

As laws become more stringent and cybersecurity threats grow in intensity and variety, being able to cut down on manual processes is essential to staying competitive. It also frees up time for employees, who can then focus on more creative and strategic roles in the organization.

Start Getting Value With
Centraleyes for Free

See for yourself how the Centraleyes platform exceeds anything an old GRC
system does and eliminates the need for manual processes and spreadsheets
to give you immediate value and run a full risk assessment in less than 30 days

What To Look For In Regulatory Compliance Automation Software

It’s time to start shopping around for a software-based security compliance automation solution. Given the high demand for automated compliance, it’s no surprise that many service providers exist on the market. Choosing the right one involves looking at the features and services you need. Some examples of what to look for include the following.

Automated Reporting Features

From tracking risk data to overviewing current compliance tasks, automated reporting features are a necessity in today’s software solutions. This way, you can go beyond the Excel spreadsheet and start generating reports faster than ever.

Reports help get a clear, holistic picture of what the company compliance posture is at a certain point. The conclusions within them are used to make further decisions and adjustments to internal operations.

Cloud-Based Deployment

Compared to an on-premises deployment, cloud software is hosted by an external service provider and delivered over the Internet. It’s a popular choice for most business applications nowadays as it outsources all the updates and maintenance and cuts down on implementation and upkeep costs.

And don’t worry about online cybersecurity threats either. Even compliance software hosted in the cloud has security features to prevent data theft like encryption and role-based permissions. As long as the vendor focuses properly on digital security, your business can rest easy.

Task Management

Compliance involves far more than just planning. To turn your intentions into action, you will need to implement compliance controls, policies, and programs. Managing these tasks is part of the job, so a robust compliance management solution must include these capabilities.

Automation specifically keeps you organized by designating which teams are responsible for which tasks. It also allows you to reach your goals while keeping within reasonable timeframes.

Start Getting Value With
Centraleyes for Free

See for yourself how the Centraleyes platform exceeds anything an old GRC
system does and eliminates the need for manual processes and spreadsheets
to give you immediate value and run a full risk assessment in less than 30 days

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