3 Pillars of Compliance:
Compliance is not typically top-of-mind until it cripples your business. Our most common prospect calls at BostonCOMPLY come from anxious suppliers who are being threatened to have their contracts cut off, POs frozen or having revenue clawed back because they can’t prove they are meeting agreed-to compliance demands of their customers and partners. Like all things regulatory and audit, if you cannot prove it, it never happened.
In these calls it rapidly becomes clear the reasons clients are not documenting and ensuring they are in compliance are driven by real business considerations; they chose speed, volume, cash flow and allocation of human capital over meeting required and often contractually obligated compliance prerequisites. At some point, the threat and consequences of non-compliance just did not seem terribly high, nor imminent.
But once that “comply or die” notice arrives, the wheels of commerce come to a screeching halt and all those “at the time” reasonable business decisions now seem poorly calculated, and panic typically sets in.
So eventually it is time to get serious about compliance. There are basically three pillars to compliance success:
COMPLIANCE PROGRAM: Building a compliance program customized to the size, complexity and needs of a business is critical to long-term success. We have a practical process to classify data, assess business and InfoSec control risks, develop and recommend control remediation, and draft the IT compliance program. We call this the Practical Compliance Program or (PCP).
COMPLIANCE AUTOMATION: Maintaining a compliance program long term has proven to be a major challenge for most businesses. To conquer this task, your program must be able to Document – Manage Versions – Review & Approve – Train – Verify, Validate and Attest, all while establishing a proper system of record and audit trail. BostonCOMPLY takes the mystery out of compliance by automating all these requirements with our Practical Compliance Automation ™ (PCA) SaaS platform. As compliance experts, we have created a practical approach to compliance and reduced the human capital any one company would need to allocate to become compliant and remain provably compliant.
TRAINING: We automated the compliance training portion, too. With a professionally developed, cost-effective video library of 22 compliance courses we call the “Human Firewall,” we give you the tools to ensure that your team (existing and new members) are meeting their annual training requirements for compliance, as dictated by the standards and regulations you must adhere to, while continually feeding this data into the automation platform. This enables you to easily monitor your compliance training progress and offers extended use cases for HR, Facilities, Operational and other training segments.
When it is time to get serious about compliance, and that time will come, there are alternatives. Partnering with a compliance expert (we recommend BostonCOMPLY) can help you identify tried, practical and proven means for getting in compliance as quickly, cost-effectively and painlessly as possible.