These 5 Things to Comply with Data Protection Regulations

Compliance with data protection regulations can be a complicated, heavy load to manage, especially for small to mid-sized businesses. For example, Verizon’s 2018 Payment Security Report, shows that, although improving, only 52% of companies meet full compliance with PCI-DSS.

Data Protection

In the last few years, we have seen regulations updated to reflect new technologies and ways of working. Issues like data privacy are now placed center stage by regulations like the General Data Protection Regulation (GDPR) with legal nuances and exacting requirements.

Meeting compliance requirements is a full-time and ongoing job. Often, companies have to meet a mosaic of regulations too, including state, sector, and global, complicating the landscape even more. Using managed IT services that specialize in helping your company met data protection compliance is a vital tool in the compliance armory of the SMB.

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Money: Fines for non-compliance with data protection regulations can be hefty. Under the GDPR, the largest fine is up to 4% of global revenue or $23 million, whichever is largest. Other data breach and non-compliance fines may not reach these figures, but they are still often tens of thousands of dollars.

The World Economic Forum has stated that what was previously considered a large data breach a few years ago is now normal. The risks of a data breach cuts across companies of all sizes, and if you are breached you could end up with a large fine.

Data Handling: Data protection laws require you to look carefully at your cybersecurity, general security, and privacy when utilizing personal data and Protected Health Information (PHI). This can be complicated and involve various legal overtures. Your firm will need to have an understanding of data classification, audit, data privacy, and data security. This requires specialist skills. Managed IT service and support companies with compliance expertise help you meet regulatory requirements letting you focus on your core business.

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Competition: In a report by an analyst firm, 85 percent of U.S. companies believe that the data protection law, GDPR, will make it harder for them to compete with European companies. The Ovum report also pointed out that data privacy regulations are not uniform across the world. The U.S., for example, has “unclear, varying laws” across different industries and states. The California Consumer Privacy Act (CCPA) is one such U.S., state-centric law which came into effect in 2018. How this law impacts organizations outside of California can be a complicating factor in a company’s choice of where to do business.

Skill costs: The changing technology landscape means that data protection compliance is also changing. Keeping up with new regulations and new laws is something that requires a high level of skill in the legal and technical aspects of compliance. Skills in the area of compliance cost money. The average salary of a compliance officer in the U.S. is $63,746 and can be as much as $155,000. Using an outsourced IT services company helps to bridge this cost.

Reputation damage: The 2017/18 Kroll Annual Global Fraud & Risk Report found that three-quarters of companies experienced damaged reputation due to fraud and cybersecurity incidents. Data protection regulations are designed to prevent data loss, which would otherwise result in company profile damage. Managed IT services and IT support help to get your compliance measures into a compliant state to help prevent data breaches.

Data protection compliance is not something to take lightly. It requires expertise and diligence to meet the exacting requirements of modern data protection regulations and laws. Getting compliance right when you are a small to midsize company is a challenge, but is an essential component of your

Five Reasons IT Service Management

Businesses demanding increased IT efficiency and lower cost, agility and scalability have quickly come to rely on cloud services. Many of the responsibilities for lifecycle management and day-to-day operations have moved to the cloud provider, yet CIOs and IT managers remain responsible for the overall governance of the data their companies depend upon.

ManagementWhile almost every company today has a cloud strategy, each in its own stage of development, Logicalis, an international ITSM tools and managed services provider, warns IT pros that the desired speed and efficiencies gained by moving to a cloud model can be quickly lost if not properly managed.

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Mike Alley, director of IT service management (ITSM) for Logicalis, likens this evolution of the IT delivery model to that of a pro motocross racer evolving from a bicycle rider … first there’s a trike, then a bicycle, and when that’s not fast enough, kids want the battery-powered motorcycle they can ride on flat ground, then a gas-powered minibike for the back yard, a moped, a motorcycle, and a few that take it all the way to racing motorcycles at 200 mph.

“The core skill set is the same, but the critical nature of performing those skills accurately is significantly more important as the speed increases,” Alley explains. “It’s the same with IT service management in a cloud model – the governance of the IT delivery model becomes more critical as businesses go through the continuum of services that make them agile and faster, and the cost of not managing the process properly and failing grows significantly with the speed with which those services are delivered as well.”

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To help CIOs as they plan their cloud models to speed the delivery of IT services, Logicalis has identified five of the top reasons IT service management capabilities and toolsets must be a crucial part of every company’s cloud strategy, detailing for IT pros just how to use ITSM to their advantage.