Overview:
For SMBs this is a really big demand and sometimes when they liaise with some consultants, they will get different approaches and different answers, here we will give the 5 high-level steps to understand what they know before they start their compliance way.
Steps for compliance:
- Understand the regulation/standard and be updated for changes.
Compliance is not a one-off task, it is a continuity plan that is implemented during the life cycle of the company process. The company needs to understand the standard or the regulation and see where it meets with their systems and their process; the idea is to identify which process or system are impacted and how the controls can reduce those impacted by implementing the standard or the regulation approach on the business process. When you’re prepared for upcoming changes, you don’t risk being overwhelmed when new legislation starts being enforced.
- Use a consultant the know your business area
Most of the time, SMBs don’t know about the law-specific requirements and how it can meet with their business. To prevent this, it is recommended to hire consultants to be sure that everything is in order. This allows shareholders to ask for advice when needed, to ensure actions and procedures are compliant with the regulation/standard requirement in the business process and goals.
- Employees must follow the process
Most of the security breaches occur because of untrained employees- the company must ensure that their employees are knowledgeable of the security policy of the company and what regulations are required, so that they can explain to the employees what the penalties to the company are, according to the regulation, when a security breach occurs. The company must ensure that a good policy is written and documented, ensuring they are visible to the business employees (in a secure manner of course). The employees need to be trained and it is recommended to prepare a reward system for employees that understand and follow those security policies.
- Internal Audit:
Internal audits are a great tool to uncover processes and procedures that can expose the company to risks and make them vulnerable. Internal audits may focus on the financial, operational, technological or regulatory aspects of the organization. It is important to review the internal audit and get the right decision in order to improve the security during the process of the company.
- Use a platform that helps you on your road
Start the journey for compliance without a platform that assists you to order and maintain these requirements can be very complex and can harm the process in the long term. The regulation/standards require a lot of systems such as asset management/ risk management/ document management and more.
Choosing the right solution that helps you to order everything and answer your business requirements is very important in order to make the compliance journey work.
Kamanja offers end to end solution that the SMB needs in one place on their journey to be compliant.
