Compliance Tracking Software Roadmap

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The information security compliance world often feels like it exists in isolation away from the rest of the world. But, thanks to a compliance tracking tool guide, compliance management, and risk management are a strategic journey as opposed to being lost alone in the massive sea of letters. In case you view compliance as your last destination, then planning a trip to that point becomes a more relaxed process.

Compliance Tracking Tools

What does a Compliance Tracking Tool entail?

With the existence of a wide array of industry regulatory and standard compliance requirements, most companies are shifting their focus towards software solutions to assist them in automating their compliance activities. Compliance management software allows you to put together all your documentation, especially those that support your security-first compliance technique to show your auditing position continuously.

If you liken compliance to a road trip, then, in such a case, your compliance tracking tool equates to the management system used in collecting and storing all your travel arrangements or plans.

Where do you start?

If you want to be compliant, your first move ought to be determining all the different routes you want to follow. For instance, if you operate in the healthcare space, you may want to achieve HIPAA compliance. On the other hand, you may have to attain PCI DSS compliance, if you are a part of the retail sector.

How do you evaluate compliance risk?

In most cases, when coming up with a map for your road trip, you may have to determine the highways that have lesser tolls. However, compliance works opposite. As such, you have to decide what industry standards and laws can lead to substantial financial penalties to understand where you need to safeguard your company’s financial status.

HIPAA, for instance, is accompanied by several hefty penalties and fines. PCI DSS compliance also incorporates excessive penalties and fines.

For now, NIST and ISO compliance are mostly used in attaining customer confidence as opposed to being regulatory requirements with penalties.

If your company wants to be compliant to standards or regulations that can lead to penalties, you may have to begin your compliance risk evaluation process there.

How do you go about determining cybersecurity risk?

Compliance risk management calls for you to set up controls. Here is how you do it:

1. Begin with the types of data that you gather, store and convey. Even though you ought to maintain your information’s accessibility, confidentiality, and integrity, protected information is entirely a higher compliance risk.
2. Review the devices and locations used in collecting, storing and transmitting data.
3. Figure out whether the tools and locations protect their data and how they make sure that unauthorized users cannot access that data.

How do you set controls?

After identifying your risks, you can embark on a plan to address them.

1. Identify potential entry points. They can be systems, devices or networks that help in accessing your data. It’s important to assess how an unauthorized person can gain access.
2. Set controls. Blocking all these entry points can entail putting in place protections such as passcode requirements, network segmentation, firewalls, or encryption methods.
3. Create procedures and policies that guarantee continuous control effectiveness.

How do you set metrics?

Make sure that you come up with metrics revolving around your compliance efforts.

1. Identify the duration since your previous data breach.
2. The amount of time you take to spot a data breach.
3. The amount of time you take to control a data breach.
4. How many times has your system been out of service?
5. The period it takes to fix your system.
6. The number of vital systems that you have given security updates.
7. How many networks have you configured based on the laid-out standards?

How to conduct continuous monitoring?

Keeping a close watch on your data environment is similar to utilizing a GPS on a road trip.

1. Review all alerts. Ensure that you not only check for security alerts but also update systems.
2. In case you spot something, do not fail to speak up.
3. Install ransomware and malware protection software that updates continuously.

How to align across regulations and standards

When on a road trip, individuals who reside somewhere may tell you the “must do” and“must see” stops. For this reason, you may end up adding things to your trip that you had not planned to do. Compliance requirements and standards are the same.

1. Outline your controls.
2. Look at regulations and standards that apply to the business’ operation and industry.
3. Make a comparison of the controls that you have and the ones that you need.
4. Try filling in the gaps.

How do you share information?

When going on a trip, you have to tell those accompanying you where they are going. The same case applies to compliance. Ensure that your board members know and understand the controls, risks and security incidents that may have taken place.

• Take part in necessary audits
• Talk to all internal stakeholders from across the organization.
• Work together with different departments to ensure that they have implemented similar vendor management procedures.
• Ensure that your board members know and understand the controls, risks and security incidents that may have taken place.
• Take part in necessary audits
• Talk to all internal stakeholders from each department.
• Work together with different departments to ensure that they have implemented similar vendor management procedures to maintain consistency.   

You might also like: Compliance Project Management Best Practices

About the Author

Ken Lynch is an enterprise software startup veteran, who has always been fascinated about what drives workers to work and how to make work more engaging. Ken founded Reciprocity to pursue just that. He has propelled Reciprocity’s success with this mission-based goal of engaging employees with the governance, risk, and compliance goals of their company in order to create more socially minded corporate citizens. Ken earned his BS in Computer Science and Electrical Engineering from MIT.