Cyber Security Compliance Benefits Every Business Needs to Know

Every time someone loses their password, a fairy dies. It’s just science. And this is why every business should buckle down to get some good old-fashioned cyber security compliance. 

But keeping fairies alive isn’t the only reason you might like to explore one, some, or all of the many flavors of cyber security compliance. Pick your favorite compliance framework, and writhing beneath it, you’ll find a dazzling array of cyber security compliance benefits.

Wait, What’s Cyber Security Compliance?

Ok, we’ll make this quick. 

Cyber security is all about applying measures and controls to keep data secure. Think mobile device management. Think locking the dang server room door. Think encrypting everything that can’t run away. 

Cyber security compliance applies measures and controls to keep data secure, using or abiding by someone else’s standards or requirements.  

Sometimes You Just Have to Do It

You can’t avoid becoming compliant (and why would you want to avoid it?). Perhaps your business operates in an industry governed by strict data security legislation and frameworks. Or perhaps you need to become compliant because all the other kids are, and it makes you look bad if you’re not. 

Here are some of the more common cyber security frameworks:

• SOC 2: This is the industry standard if you handle your clients’ data in the cloud. It’s not mandatory, but we think it should be. 

• ISO 27001: Here’s the big enchilada of data security compliance. It’s not mandatory. It’s hard work. It focuses on the confidentiality, integrity, and availability of data, and if you’ve achieved certification, you’re very, very special.

• HIPAA: Working in the healthcare industry? You’ll need this. It’s mandatory.

• SEC: The Securities and Exchange Commission requires public companies who operate in the markets and trading industry to report how they’re tackling data security. 

• PCI DSS: Take credit cards? The Payment Card Industry Data Security Standard requires any business that processes, stores, or transmits credit card information to maintain a secure data environment. 

• NIST: If you’re not subject to any of the mandatory compliance regimes, but think compliance is right for your business, The National Institute of Standards and Technology has a voluntary compliance framework that’s popular, because it’s written in actual common sense. 

Still, hesitating? Don’t, because you’ll miss out on all these crazy business benefits that cyber security compliance has to offer.

Cyber Security Compliance Benefits #1: Get the Good Things

If we listed all the benefits of choosing to douse yourself in all the cyber security compliance, we’d have to pay our copywriter a lot more than we do. So, to cut our costs and your time, here are our top four good things about cyber security compliance:

Gives You a Framework 

A compliance framework gives you the information to make grown-up decisions about your data security priorities, budget planning, and timelines. Without a compliance framework, you’re shooting in the dark. But metaphorically. And that’s not good business practice.

Reduces Risk

Becoming compliant means assessing your data security vulnerabilities, and implementing the measures and controls that block up the holes. Your people know how to deal with phishing emails. Your firewall is crazy hot. You practice levels of mobile device management that makes angels sob ugly. And when you’ve reduced the risk of a data breach, lovely things happen. One of these things is reduced downtime. When your business isn’t disrupted by hackers, malware, or bad employees, productivity and profitability carry on as usual, up and to the right.

Blesses You With a Stellar Reputation

When you’re compliant, you’re trusted. Your compliance certificate shouts that you take data security seriously and that your dealings with your clients—their data, shared files, intellectual property, and customer information—are safe with you. If you’re handling your clients’ clients’ data, you can demonstrate that you can keep your clients’ promises.

Lets You Play in the Big League 

Compliance is a business asset. See it as a value, rather than a cost, because it’s key to unlocking potentially profit-exploding contracts. 

Cyber security compliance certification is often a pre-qualifier for big league contracts: with large corporations, public bodies, or international organizations. You can spend time and brainpower putting together awesome proposals, but without compliance, they’ll just get thrown in the e-trash. Being compliant checks a box and gets you through to the next round. 

For instance, if you want to work with the Department of Defense, you’ll need Defense Federal Acquisition Regulation Supplement (DFARS) compliance. And, by demonstrating trustworthiness, you’ll also attract business from smaller companies. 

This seamless segue takes us to the yin half of cyber security compliance benefits: Avoiding All The Bad Things.

Cyber Security Compliance Benefits #2: Avoid the Bad Things

When you’re compliant, you’ll reduce the risk of our two least favorite bad things:

Fines and Criminal Penalties

The ancient Greek philosopher Sophocles once said, “Fines are the fruit of non-compliance,” and we couldn’t agree more. Fines can range from 100 bucks up to 4% of your global annual turnover. Yep, breach the GDPR, and the EU will come for you.

Loss of Customer Trust

If your data is breached or you’ve totaled your customers’ data, you can say goodbye to your reputation. You’ve lost customer trust, and you’re probably tomorrow’s headline, too. Even your most manipulative PR psychopath can’t fix this in a hurry. Loss of reputation, of course, means loss of business. 

Thinking About Cyber Security Compliance? Let’s Get Started!

The joy you feel on the day you get compliant ranks slightly more than the day your first child was born, and slightly less than when you got Smudge the pup on your 8th birthday. We can help you find that kind of joy. Compliance is good for business. Let’s find out just how good it’ll be for yours.