In many organizations, there is a major disconnect between satisfying regulatory compliance needs, and finding time to operate business as usual. There are countless regulations that organizations need to follow, and multiple compliance frameworks meant to facilitate this process. However, without a unified control framework there can be a disconnect between various functions; including Audit, Risk Management, Third Party Management, Legal, and Business Continuity. These disconnects result in what the CSO describes as “Compliance Fatigue”. While the headaches associated with compliance may be painful, industry experts agree that the risks of a major breach far outweigh the pain, and are critical to the organizations success.
The number of compliance mandates that an organization must follow depends on the size, industry, international exposure, and nature of the business. This can result in just a few major mandates, or possibly dozens. If the compliance frameworks it follows are out of date or incorrect, the organization faces increased audit risk, increased risk of breach, and possible legal issues as well.
Trying to align all the regulations from scratch can be a huge investment in both time and resources. This leaves the organization vulnerable to audit findings, exploited risks, and regulatory fines while the mappings are being performed. One way to solve this problem quickly is to leverage the work of a third party that has already performed the necessary mappings and research to simplify and bring together a single list of controls.
In order to satisfy the ongoing needs for a unified control framework, Quantivate has partnered with third-party SaaS solution provider “Unified Compliance Framework” to bring these regulatory standards into Quantivate’s award winning GRC solutions. This partnership can help organizations better understand their compliance landscape, track progress with implementing the controls, and provide detailed audit reports to regulators to ensure the standards are being met and followed. This integration also allows companies to define, scope, and maintain their harmonized control sets, regardless of which regulations from around the world they need to comply with, and will help to ensure “compliance fatigue” is a thing of the past.