An essential element of an effective compliance program is the Business Impact Analysis (BIA) which measures the impact of a disruption (due to an accident, disaster, etc.) on critical business operations.
1. Identify gaps in existing compliance agreements (whether regulatory like HIPAA, GDPR or CMMC).
2. Ensure compliance with cyber liability insurance policies and other IT compliance policies unique to your organization, industry, geography, etc.
BIA for compliance
1. Identify critical processes and functions.
2. Draft a roadmap for business recovery.
3. Find out resource interdependencies.
4. Track the flow of sensitive data.
5. Determine the impact of an incident on operations.
6. Sort processes and functions based on their necessity for business continuity.
7. Establish recovery time requirements.
8. Evaluate the impact a disruption will have on compliance.
1. What steps do you need to take immediately to become compliant?
A few urgent compliance gaps you may encounter are:
· Improper firewall management
· Lack of documentation of sensitive data flow
· Poor incident prevention practices
· Failure to document preventative measures
2. Do you have a data governance strategy in place that considers compliance requirements relevant to your organization?
An effective data governance strategy ensures that data gets managed well and is compliant with internal and external regulations.
3. Do you have in-house expertise?
A compliance specialist employee can manage compliance gaps efficiently. To accomplish this goal as quickly as possible, contact Sydow Inc to maximize your time to compliance.
4. How do you accomplish your compliance goals?
The longer issues remain unresolved, the more opportunity for vulnerabilities to result in data exposure and data loss incidents. Sydow Inc will help you address vulnerabilities quickly and reduce the likelihood of your organization suffering non-compliance-related fines.
In addition to conducting or refreshing your BIA at least once a year, you must ensure that regular risk assessments are part of your non-compliance hunting strategy so that nothing inadvertently falls out of compliance.
Achieving and maintaining compliance can be challenging. Regular risk assessments detect, estimate, and prioritize risks while a BIA sheds light on how to quickly get your business back on track after an incident to avoid severe damages.
If you don't have the resources and expertise to keep up with changes in compliance frameworks, partner with Sydow Inc. You will effortlessly enhance your compliance program without spending a fortune. Contact us now to schedule a no-obligation consultation.
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