Complying with regulations might seem like a full-time job if you’re in a regulated industry. And while it’s true that compliance is a necessary part of running any business, it doesn’t have to be an overwhelming one.
Cloud technology enables you to protect sensitive information from breaches and ensure that everything from documents to financial records is kept safe and accessible. By leveraging cloud technology and best practices, you can keep all of your data secure while still staying within the bounds of industry standards.
What Does It Mean to Be Compliant?
There are two main parts to being compliant:
First, you need to be in line with industry standards and regulations. This means you are following the rules and doing what you should. You don’t want people thinking that your company is shady or untrustworthy because it’s not following compliance standards.
You also want to ensure that all of your employees know how important it is for them to follow compliance regulations, so they don’t miss any steps when doing their jobs and don’t accidentally break any laws or regulations.
The second part of being compliant is having a good reputation in the world at large. A company will have higher profits if its products have a positive reputation because consumers will trust their brand more than competitors who do not share the same commitment towards compliance (or lack this commitment altogether).
Cloud Compliance vs. Data Center Compliance
While data center security can be a critical aspect of cloud compliance, it’s not the whole story. Cloud compliance ensures that your cloud service provider meets the standards and regulations necessary to fulfill your business objectives.
Cloud compliance also involves ensuring your provider has policies in place to protect you against excessive government surveillance and other privacy concerns, as well as against breaches of personal data in their systems.
Cloud services are becoming an increasingly popular alternative to setting up on-premise infrastructure because they allow companies to access computing resources anytime. This flexibility has some risk factors that must be considered when implementing a cloud solution.
Suppose your organization deals with sensitive information like financial records or healthcare patient data. In that case, you can take steps to mitigate these risks by choosing a reputable supplier who understands how important it is for organizations like yours to maintain proper standards around security and data protection.
Types of Compliance
There are many types of compliance, and cloud technology can help you with them. The most basic type is compliance with industry standards and regulations.
For example, if you have an e-commerce website, you must comply with PCI DSS (Payment Card Industry Data Security Standards), which requires that your data is safe from theft or unauthorized access. You also need to comply with SOX (Sarbanes-Oxley Act), which requires financial institutions to keep accurate records and take steps to prevent fraud or theft.
Another type of compliance is operational security; this refers to ensuring that your IT infrastructure is secure from hackers who could steal or modify data to gain unauthorized access to your systems. Cloud computing providers can help ensure this by providing security controls like firewalls and intrusion detection systems (IDS).
Five Ways Cloud Technology Helps With Compliance
In addition to reducing costs, cloud technology can help with compliance in several other ways.
- Reduce risk: Cloud providers are interested in maintaining their reputation as a safe and secure place for businesses to store data. This means that they’re more likely than an on-premises IT department or vendor to take steps that protect your data from security breaches and other threats.
- Increase agility: Because the cloud offers flexibility in terms of scaling up or down when needed, you can respond quickly to changes in demand without having to make costly infrastructure upgrades. And because there are no upfront capital expenses, it’s easier for small businesses with limited budgets to introduce new technologies into their processes—and stay compliant by doing so!
- Improve security: A common misconception about cloud computing is that it doesn’t provide sufficient protection against hackers; however, modern software is built using industry-standard protocols like SSL (Secure Sockets Layer). These protocols encrypt data sent over the Internet, even if someone somehow manages access through brute force methods, like trying every possible combination until they guess right one day.
- Staying ahead of changes: cloud technology enables companies to upgrade their systems and applications more quickly than if they were hosted internally. This means that a company can keep its systems up to date with new regulations and requirements without investing in significant hardware upgrades or reworking its entire network architecture.
- Tracking Changes: Compliance regulations often require an organization to keep track of changes to its systems and processes. With cloud technology, it’s easy for companies to track these changes to comply with the regulations.
- Offering Greater Control: Cloud technologies also give businesses greater control over their data, which is essential for complying with industry regulations and standards. For example, suppose an organization needs to comply with the Payment Card Industry Data Security Standard (PCI DSS). In that case, it can choose a cloud service provider certified by an independent third party. This ensures that all customer information is encrypted in transit between your server and ours—and is never stored in plain text on our servers.
Protect Your Business with the Right Cloud Technology
While cloud technology can help you improve your security posture and protect your business, it is crucial to understand that no single technology or service can provide complete protection. Cloud instances are as vulnerable to attack as on-premises systems, so it’s still important for organizations to have a comprehensive approach to security.
That said, cloud technology does offer some distinct advantages over conventional on-premises solutions:
- Resiliency: In the case of an outage or disaster, users will continue working seamlessly from another location through a seamless transition from their local instance into the cloud instance. This means less loss of revenue because customers don’t need offline time while being transferred back over private networks (or the internet). Traditional infrastructure may require rebuilding to restore services if there’s an outage—but with cloud computing systems, there isn’t any downtime because they’re always available in multiple locations worldwide (redundancy).
- Flexibility: The flexibility to scale as needed means that you can reduce your costs as you grow—or increase them if needed.
- Secure and Scalable: Cloud solutions are built to be more secure and scalable than conventional on-premises solutions. Cloud providers use industry-standard security practices that ensure your data is safe from unauthorized access and have robust disaster recovery plans to prevent outages or data loss.
- Lower Cost: Since cloud solutions are hosted off-site, you don’t have to worry about maintaining a dedicated IT infrastructure or hiring a full-time staff of IT professionals. This improves your ability to focus on your core business activities and lowers overall costs by eliminating the need for expensive hardware purchases and maintenance fees.
How Cloud Technology Can Help with Compliance
Compliance is a fundamental part of running a business. But it can be complicated, time-consuming, and costly. Cloud technology platforms are helping organizations manage their compliance requirements more easily, efficiently, and cost-effectively.
Cloud technology can help with compliance requirements and reduce liability risks.
You are probably aware that compliance is a major concern for many organizations. Regulatory requirements and industry best practices are complex, and they change often. A cloud technology service provider can help your organization stay up-to-date on the latest standards and guidelines and ensure you’re meeting them.
Cloud technology can also reduce your liability risks by providing a more secure system than you might have been able to develop on your own. With so much confidential data at stake in today’s business environment, having an IT team dedicated to keeping it safe is essential. Ideally, they should be experts at staying compliant with industry regulations such as HIPAA or PCI DSS (payment card industry data security standards).
Blockchain technology is helping many organizations manage their compliance needs.
Blockchain technology is helping many organizations manage their compliance needs. Blockchain is an immutable distributed ledger that allows for greater transparency and can be used to track data. This technology removes the need for third-party intermediaries and ensures that all transactions are verified by consensus.
Blockchain can also help with regulatory reporting requirements, such as Sarbanes-Oxley, Dodd-Frank, and Basel II/III/IV.
Data as a Service can help legal teams find the information they need when they need it.
Data as a service, or DaaS, can help legal teams find the information they need when they need it. With data sources spread across multiple platforms and devices, finding the right piece of data in a timely fashion is critical. Data as a Service makes this happen by providing access to all your data assets in one place. This way, you’re not wasting time searching through old emails or digging through hard drives looking for the right document—the right information will always be available on demand and at no charge with DaaS.
Cloud technology can help you ensure compliance with industry standards and regulations.
Cloud technology is flexible, scalable, and secure. Many organizations are already using cloud computing to store their data and manage their workloads.
Cloud technology can help you meet compliance standards by providing a central location for storing data, which enables users to access it from one place on any device. Cloud services also provide the ability to monitor or audit access rights or processes, ensuring that sensitive information remains private at all times.
Cloud technology can help you reduce costs by enabling organizations to share resources across multiple users within an organization or across multiple companies in a multi-tenant environment.
This cost reduction is achieved through economies of scale and lower maintenance costs for hardware infrastructure (such as servers) compared with in-house hosting methods. In addition, cloud providers may charge based on usage rather than having upfront capital expenses associated with buying new equipment before using it.
Cloud technology is a great way to help you meet compliance requirements. It can give your business access to various new tools and services that will help keep it in line with industry standards and regulations.
The cloud makes it easier for companies to follow the rules, which means we’re all safer when there’s more compliance! So if you’re looking to improve your company’s level of compliance, think about using cloud computing as an option.
Further blogs within this Compliance Strategies for Cloud category.