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Compliance as a Service helps you maintain and document your regulatory compliance

What is Compliance as a Service?

Given the increasingly stringent privacy regulations across the globe, you can no longer put compliance on the back burner. Being compliant requires both fulfilling all your obligations under applicable regulatory standards and providing proof of the same. Thus, in order to pass critical audits, you must have documented validation of compliance.
You need a comprehensive solution that automates and streamlines your compliance processes, making it easier for you to adhere to extensive regulatory requirements.
Compliance as a Service (CaaS) is an IT solution that employs cloud computing to store data and manage regulatory compliance for businesses. It not only stores sensitive data in compliance with regulatory requirements but also helps in reporting and managing compliance across your organization.
Here is a roundup of major reasons why CaaS is important for your business:

Simplifies the Compliance Process

With the help of the right CaaS solution, you no longer need to spend hours staying updated with the
latest regulatory changes, preparing correct documents for regulatory bodies, and managing your
data security. Your CaaS solution will take care of all that and more.

Easily Configurable

CaaS solutions can be easily subscribed to and configured based on the unique compliance needs of
your business. That said, the right CaaS solution will save you a lot in terms of time, energy, and
resources required to keep up with the changing regulatory requirements for your business.

Provides Automatic System Updates

With the right CaaS solution, you can stay away from the hassle of having to update your systems
every time an industry regulation changes. Your service provider will automatically roll out the
updates for you.

Why CaaS?

An all-inclusive CaaS solution can help businesses streamline their compliance processes and stay
up to date in accordance with the evolving regulatory environment. The right CaaS solution:
  1. Helps in demonstrating compliance to the various standards through automated reporting and scanning
  2. Documents and audits compliance from a single pane of glass
  3. Provides scheduled network scans to identify potential security threats, detect ongoing issues,
    and send alert notifications
  4. Identifies security vulnerabilities through automated assessments of your internal and public
    environments

HIPPA

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NIST CSF

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Cyber Insurance

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SOC 1 & SOC 2

HIPPA
HIPAA or Health Insurance Portability and Accountability Act is a compliance standard that is designed for the protection of sensitive patient data. Any organization that deals with protected health information (PHI) is obligated to maintain and follow the process, network, and physical security measures in order to be HIPAA complaint.

Concerns Associated with HIPAA Compliance

• HIPAA violations attract hefty penalties.
• Adequate training for handling PHI and dealing with malicious security attacks is critical.
• It is imperative to have a Security Incident Response Plan (SIRP) in place to deal with a security
event.
• Professional assistance is required to handle the complexity of audits and maintain the right
documentation.

NIST CSF
The National Institute of Standards and Technology (NIST) has developed a framework called the Cyber Security Framework (CSF) for streamlining cyber security for private-sector businesses. NIST CSF is a set of voluntary standards, recommendations, and best practices that are designed to help organizations prevent, identify, detect, respond to, and recover from cyber-attacks.

Concerns Associated with NIST Compliance

• Most businesses do not possess the in-house expertise of safely assessing NIST requirements.
• Businesses need to understand their unique cybersecurity risks and vulnerabilities to properly design, implement, and manage their security programs and best practices.