Meeting industry-regulated compliance is not at the forefront of every business leader’s mind. In fact, only 11% of businesses in the U.S. meet the requirements set out by the California Consumer Privacy Act (CCPA). This statistic is alarming because compliance regulations are made to ensure the safety and security of customers and employees and to ensure that businesses are operating within legal parameters.
While meeting compliance is mandatory, it’s also extremely time-consuming and limits the number of resources businesses have to invest in other areas. Fortunately, there is a solution: Compliance as a Service (CaaS). CaaS takes the burden out of compliance and makes keeping data regulations easy. In this article, learn what CaaS is, how it works to keep you compliant, and how it can be a valuable addition to your Utah business.
What Is Compliance as a Service?
Compliance as a service is an innovative compliance solution designed to make compliance for businesses easier and more efficient. Instead of having to manage compliance themselves, businesses can outsource this task to an experienced compliance provider. With CaaS, businesses can access compliance-related information and services from a single source, allowing them to stay compliant with minimal time or effort.
How Does Compliance as a Service Help Organizations Meet Compliance?
CaaS provides compliance through cloud technology. The cloud allows businesses to manage compliance securely and remotely, giving businesses access to important data and services from the comfort of any location. And businesses can even view compliance-related data and reports from a single dashboard, simplifying compliance oversight.
As compliance regulations change, CaaS can help businesses quickly and easily update compliance solutions to ensure compliance at all times. And by automating compliance processes, businesses can reduce compliance-related errors and save time that would otherwise be spent manually managing compliance tasks.
What Are the Advantages and Disadvantages of CaaS?
Compliance as a service is great for businesses in Utah that need to improve on meeting their compliance regulations. On the downside, while few, there are also some disadvantages that come with CaaS that you should consider.
The Advantages of CaaS
Compliance as a service can help businesses stay on track in ensuring compliance. Some key advantages of CaaS include:
- Streamlined Compliance Processes: CaaS can automate compliance processes, reducing the amount of manual work required.
- Improved Compliance Speed and Accuracy: By automating compliance tasks, businesses can reduce compliance errors and save time in the process.
- Direct Access to Compliance Data and Reports: CaaS provides businesses with a single source for compliance data, allowing them to quickly access relevant reports.
- Identifies Gaps in Compliance: CaaS can help identify compliance gaps which help businesses quickly rectify any compliance issues.
The Disadvantages of Caas
Although compliance as a service offers several benefits, there are some potential disadvantages:
- Potential for Compliance Gaps: There are hundreds of compliance regulations across the globe. CaaS may not provide compliance coverage for all compliance regulations that exist—except for the biggest and most well-known compliance regulations.
- Increased Risk of Data Breaches: As compliance data is stored in the cloud, if users aren’t careful with security, compliance data can be vulnerable to breaches.
- Increased Cost: Compliance as a service is an added security service that may come with higher costs than simply selecting a basic security service package.
Keep Your Compliance Simple with Simple Systems
Don’t let compliance regulations stand in the way of running your business. Simple Systems can help you get started with compliance as a service that’s designed specifically for your Utah businesses.
Let us help you keep compliance as simple as possible through our managed IT service offerings. Our team of IT experts will help get your compliance processes up and running quickly and accurately – so that you don’t need to worry about managing compliance on your own.
Get in contact today with one of our compliance experts and take the burden of meeting compliance off your to-do list this year.