What Should You Know About Regulatory Compliance?

When you sit down with new prospects, you rarely talk about data security. The client is usually focused on the problem they have that has made them come to you in the first place, while you are likely focused on closing in on bringing critical revenue into your business. That doesn’t mean that data security isn’t an extremely big issue, it just that without business, it is a non-issue.

With electronic record keeping at an all-time high, and the number of miscreants out there looking to gain access to those files, certain industries have outlined a series of regulations that businesses that work with potentially sensitive data have to adhere to. Industries like health and finance have the most strident regulations, as governments begin to set legal ground rules for the reporting and security of critical data.

To ensure that your company meets any compliance standards to which it is mandated, XFER is versed in the technical aspects of data protection and can help you remain compliant with your industry’s regulations.

Government Mandates: In certain industries, normally ones where the data is the most lucrative, state and federal governments create regulations that organizations need to meet. Typically, these compliance standards are issued with attention on network and data security, and the protection of the dissemination of the data. The cost of keeping networks and data secure, reporting for transparency, and any noncompliance costs are absorbed by the organization, making it extremely important to adhere to and maintain regulatory compliance.

• HIPAA is required by the Office of Health and Human Services (U.S. Government).
• SOX is required by all publicly held companies.
• New York State requires all financial organization to meet Cyber Security Requirements for Financial Services Companies.

Internal Mandates: Since many businesses that have had to deal with the fallout of significant data breaches come out significantly less prosperous, many organizations have begun to be more diligent about the way they share and store potentially sensitive data. Some internal regulations include:

• Bring Your Own Device (BYOD) policies do a thorough job of controlling what devices have access to your organization’s network. 
• Remote Access is helping all types of organizations be more productive. Companies that allow for remote access often lean on a Virtual Private Network (VPN) to ensure that when a member of your team needs access, that they have it through secure means.

Continuity Policies: Most of the regulations set forth by the government require some degree of continuity planning. This includes a reliable backup and recovery solution as well as a more detailed and robust disaster recovery strategy. Since managed service providers are in a position to help secure data, manage and maintain hardware, and thoroughly inventory all hardware and software assets an organization holds, they are the ideal partner to help outline your continuity policy.

Vulnerability Assessment: The more secure your organization’s network is, the better. To help ascertain just how secure a network is, a penetration test is mandated by regulatory bodies. Basically, the penetration test is a deliberate attack on an organization’s network by a friendly party. Vulnerability assessments are often required, as well. A vulnerability assessment is a report that indicates where there are weak spots in a network. Along with performing these tasks, an MSP can also provide the necessary paperwork required to prove security measures are being taken.

Remote Monitoring and Maintenance: Keeping an artful watch over your network can be one way to keep nefarious and unwanted entities out of your network. Typically, any compliance mandate requires an organization to have some semblance of monitoring in place as a protection. MSPs have certified technicians on staff whose job is to monitor and manage client networks, improving the network coverage.

No matter what you are required to report, or your organizational technology needs, XFER has the experience and knowledge to help you protect your business. For more information about network security, call us today at 734-927-6666 / 800-GET-XFER.