As companies all across the globe implement new technologies into their business operations and foundations, the need for understanding and adhering to compliance standards also increases.
Unfortunately, many business owners are under the impression that their own digital transformation strategy is somehow unrelated or even dragged down by necessary compliance regulations. This is untrue. Digital transformation and compliance actually go hand in hand, and without one, you cannot properly have the other.
Digital Transformation and Compliance: What are They?
A digital transformation strategy is a process through which a company uses digital technologies to improve various business operations. This can be done in order to cut costs, boost efficiency, or simply keep up with the competition.
Digital transformation strategies have become increasingly popular in recent years as the business landscape changes and digital technologies become more commonplace.
Compliance, on the other hand, refers to the various regulations and standards that companies must adhere to to do business. This includes everything from financial compliance to data privacy compliance. Depending on your industry, there may be different compliance regulations that you need to follow. Compliance regulations can include:
- CMMC: Cybersecurity Maturity Model Certification, or CMMC, is a certification process that assesses a company’s cybersecurity posture. This is important for companies working with the Department of Defense and handling Federal Contract Information (FCI) or Controlled Unclassified Information (CUI).
- SOC-II: The Service Organization Control II, or SOC-II, is a set of certification requirements for service providers handling sensitive customer data. This includes anything from financial information to health records.
- ISO 27001: The ISO/IEC 27001 standard is an information security management system (ISMS) standard. It helps companies keep their confidential data safe and secure.
Why is Compliance Important?
Simply put, compliance is important because it protects both consumers and businesses alike. Compliance standards help ensure that companies are handling customer data properly and not putting them at risk. At the same time, it also protects businesses by minimizing the chances of lawsuits or other penalties. In other words, compliance is a key part of digital transformation because it helps reduce risk while increasing innovation.
How Do Digital Transformation and Compliance Go Hand in Hand?
For starters, they have to evolve together. As you adopt new technologies to improve efficiency, your compliance has to evolve and stay up to date as well. After all, new technologies can present new risks that need to be addressed by updated compliance standards.
Additionally, both digital transformation and compliance require data-driven decision making. In order for your digital transformation strategy to be successful, you need to have a clear understanding of your data and how it flows throughout your organization. The same is true for compliance. You need to be able to track and monitor your data in order to ensure that you are meeting all relevant regulations.
Envision Consulting Can Help You Get Certified
Envision Consulting is a leading provider of digital transformation and compliance solutions. We can help you assess your current state, develop a digital transformation strategy, and implement the necessary technologies. We can also help you with various compliance certification processes that take about 9-12 months.
Contact us today to learn more about how we can help you improve your digital transformation strategy while ensuring compliance with all relevant regulations.