There is no silver bullet for addressing security and compliance challenges. Also, there is no one-size-fits-all protocol for all industries to handle compliance protocols. Changing and increasing compliance scope, cloud service complexities and others, require companies to adhere to strict measures.
As compliance becomes a cornerstone of business operations, integrating advanced technologies is key to mitigating risks and reducing costs, yet many organizations lag in full automation.
95% of respondents in a study have incorporated a culture of compliance within their organization.
93% of businesses strongly agree that new technology will make compliance easier.
However, 69% of businesses have utilized technology to support their compliance programs.
Only 18% of organizations have automated processes for data collection and reporting, even though it is the most effective way to mitigate risk.
The average compliance cost for organizations across industries stands at $5.47 million versus $14.82 million average cost for non-compliance. >>Refer
The cost of compliance varies by sector, ranging from $7.7 million for media to over $30.9 million for financial services. >>Refer
Businesses spend approximately $1.34 million on specialized compliance and security technology.
Companies having compliance technology save an average of $1.45 million in compliance costs.
Business disruption being the most expensive non-compliance consequence can lead to $5,107,206 loss on an average. >>Refer
There is no silver bullet for addressing security and compliance challenges. Also, there is no one-size-fits-all protocol for all industries to handle compliance protocols. Changing and increasing compliance scope, cloud service complexities and others, require companies to adhere to strict measures.
As compliance becomes a cornerstone of business operations, integrating advanced technologies is key to mitigating risks and reducing costs, yet many organizations lag in full automation.
95% of respondents in a study have incorporated a culture of compliance within their organization.
93% of businesses strongly agree that new technology will make compliance easier.
However, 69% of businesses have utilized technology to support their compliance programs.
Only 18% of organizations have automated processes for data collection and reporting, even though it is the most effective way to mitigate risk.
The average compliance cost for organizations across industries stands at $5.47 million versus $14.82 million average cost for non-compliance. >>Refer
The cost of compliance varies by sector, ranging from $7.7 million for media to over $30.9 million for financial services. >>Refer
Businesses spend approximately $1.34 million on specialized compliance and security technology.
Companies having compliance technology save an average of $1.45 million in compliance costs.
Business disruption being the most expensive non-compliance consequence can lead to $5,107,206 loss on an average. >>Refer
| Industry | Compliance Framework |
|---|---|
| Banking, Financial Services, and Insurance | Sarbanes-Oxley Act (SoX), European Union General Data Protection Regulation (EU-GDPR), United Kingdom General Data Protection Regulation (UK-GDPR), Payment Card Industry Data Security Standard (PCI DSS), Gramm-Leach-Bliley Act (GLBA), Revised Payment Services Directive (Payment Services Directive 2) (PSD 2), Federal Financial Institutions Examination Council (FFIEC), Digital Operational Resilience Act (EU regulation) (DORA) |
| Healthcare | Health Insurance Portability and Accountability Act (HIPAA), General Data Protection Regulation (GDPR), Sarbanes-Oxley Act (SoX) |
| Manufacturing | International Organization for Standardization – Quality Management Systems (ISO 9001) |
| E-Commerce | Payment Card Industry Data Security Standard (PCI DSS), Center for Internet Security Controls, International Organization for Standardization (CIS Controls), Code of Practice for Information Security Controls (ISO 27002) |
| Information Technology / IT-Enabled Services | Control Objectives for Information and Related Technologies (COBIT), Sarbanes-Oxley Act (SoX) |
| Education | Family Educational Rights and Privacy Act (FERPA), General Data Protection Regulation (GDPR) |
| Aviation Industry | Security Management System (SeMS), Aircraft and Airport Security Standard Procedures (AASSP), Public Key Infrastructure (PKI), International Organization for Standardization / International Electrotechnical Commission – Information Security Management (ISO/IEC 27001) |
Our GRC solutions are designed to help businesses navigate the complexities of cybersecurity and regulatory compliance. Our team of experienced GRC consultants conducts gap analyses, develops both AS-IS (now) and TO-BE (future) process and customizes solutions to meet the specific needs of each client. By integrating GRC into your operation, we empower you to manage cyber risks effectively, while also maintaining regulatory adherence and operational efficiency.
ENH iSecure’s SIEM services are at the cutting edge of security monitoring and analysis. Our SIEM solutions integrate multiple security information sources and event logs, providing real time visibility and analysis of security incidents. This ensures that potential threats are detected early, allowing prompt response.