Mitigate risk and reduce the costs of IT compliance management
You need to have a process for automating your compliance program
Compliance is a point of pain for most organizations. The burden of adhering to the ever-growing list of regulations and laws concerning different parts of your business is substantial for organizations of any size. We want to offer your organization a different way of approaching this challenge.
To maintain compliance, organizations create policies and processes that walk employees through the necessary procedures step by step. This requires a lot of manual hours, and it's easy for someone to make a mistake. Rather than forcing humans to do this work, organizations are increasingly turning to automation software to help them maintain compliance.
Rules can change to make staying compliant easier or more difficult, but one thing that does not change is the seriousness with which authorities take their jobs. This makes creating a modernization plan to continually improve your organization’s automation essential. With the amount of data and increasingly large number of processes that must be adhered to, it’s simply not possible to stay up to date without it. SMA has a strong track record helping financial institutions meet their regulatory obligations through effective automation programs, and these programs are pertinent and transferable to many industries.
Shoring up compliance with audit documentation
The volume of data businesses generate is expanding. And, keeping track of where it is stored and who has access to it is by necessity, and usually by law, extremely important. IT professionals have been tasked with making this less painful for their organizations, and the sheer size and number of data points they're required to track requires a very proactive automation plan.
Turning data retention and management policies into business processes is the first step. Defining confidentiality and classification, choosing a storage location, generating alerts and notifications, and keeping track of where data moves to and who is viewing it can be turned into tasks and put into automated workflows with a robust audit trail.
There are three primary steps you can take to get a better handle on your audit documentation: performing a data audit, determining what kind of data you have, and then categorizing that data into different buckets.
Automate your information security and access control
It's not uncommon for companies to have employees who need access to sensitive systems to do a task or pull information for a report. Still, this access represents a security risk — these open doors into core systems and databases are what keeps IT leaders up at night.
An effective automation platform enables your organization to remove that vulnerability by automating the processes end-users previously needed to accomplish their tasks. Rather than traditional scheduled automation and batch processing, it's on-demand automation.
Automating onboarding and offboarding to stay in compliance
Onboarding is a tedious process involving many steps and documents containing sensitive personal data and compensation details. Automating this process improves the efficiency of the HR department, and also provides an easily trackable audit trail that ensures all mandatory steps have been taken to stay in compliance.
Offboarding is another critical process that should be automated because it can be extremely time-sensitive. At a minimum, it needs to be thorough. When you automate your offboarding, IT can remove access, lockdown devices, disconnect security badges, and prevent data transfer with the press of a button.
There are many processes both within and outside these two categories that will yield a high ROI for your organization when you automate them. The first step is identifying the order in which you want to automate them. We’ve written a short article that should inspire and inform your plan for streamlining your onboarding and offboarding with automated workflows.
What you can do next
If you are ready to find out more about generating an automation plan to help your organization handle compliance and security compliance, one of our automation experts is ready to provide more information or schedule a demonstration of OpCon, our automation platform.