Regulatory compliance is a major concern for organizations in sectors like healthcare, legal, and finance. If you cannot comply with the laws, guidelines, and standards laid down by the government, you will incur penalties and may be prohibited from operating.
The increasing need for transparency and data security has led to the creation of tighter regulations. If compliance has become a challenge for your organization, you can lighten your burden by working with a managed IT services provider (MSP).
How does an MSP help with regulatory compliance?
An MSP handles your IT system for you, similar to how an internal IT department would manage your company’s tech-related needs. Most MSPs commit to helping their clients comply with industry requirements, which they do in several ways:
#1. Migrate your data to the cloud
Maintaining and securing sensitive data, such as crucial client and company information, are two of the most important requirements for compliance. The Health Insurance Portability and Accountability Act (HIPAA), for instance, lays down guidelines on how covered entities should secure patients’ protected health information.
MSPs can assist you with migrating your data to the cloud. This stores your electronic data in multiple off-site servers and is crucial for several reasons. First, it allows your staff to access the data they need for their tasks anywhere, as long as they’re connected to the internet. This eliminates the need to use paper records that are easily lost, stolen, and damaged.
Second, migration protects your data from thieves. Data on the cloud can only be accessed by people with the right login credentials. What’s more, cloud data is encrypted to make it unreadable to snooping third parties.
Finally, the cloud allows you to store multiple backups of critical files. Should a disaster, such as a hurricane or cyberattack, prevent you from accessing your data on your main servers, your backups will let you recover this information quickly and resume operations.
#2. Boost your protection from cyberthreats
Over 75 percent of data breaches in the finance sector happen because of hacking and malware. This goes to show just how important it is to take a proactive approach when it comes to cybersecurity. Such an approach is exactly what reputable MSPs espouse/practice.
MSPs monitor your network remotely for indicators of malware infections, hacking attempts, or other types of cyberattacks. Their experts then resolve the issue before it impacts your operations. They do this 24/7, even on holidays, ensuring that your network is safe from IT failures and downtime at all times.
Furthermore, should you need help procuring cybersecurity tools for your organization, an MSP can help you find ones that match your needs and budget. If they are partnered with vendors, they may even help you secure good deals and cost savings.
#3. Expand your staff’s skills
Your employees are your first line of defense against cyberthreats, which means your compliance strategy must take them into account. An MSP can send in some of their experts to train your staff in identifying vulnerabilities and telltale signs of cyberattacks, following best practices, and using cybersecurity tools.
MSPs are generally composed of tech professionals who specialize in various IT fields. If you have an in-house IT team, they can turn to the MSP’s well-rounded expertise to supplement their own knowledge and skills and improve their familiarity with new technologies.
#4. Help incorporate new technologies
New technologies like automation and machine learning will play an important role in enhancing the way you serve your clients and protect your data in the very near future. Thus, they will also likely be crucial to compliance.
MSPs keep themselves abreast with the latest technologies, so they are among the best resources when it comes to new tools that will augment your organization’s cybersecurity. They can help you recognize which processes need improvement and identify the right technology for you.
Regulatory compliance requirements tend to change with time, so you need a partner who can guide you through the process and assist you with meeting the needed standards. Cutting Edge Network Technologies has been bolstering the cybersecurity of businesses in Orlando for years and helping them stay compliant. We can do the same for you.
Discover how working with an MSP can help you ensure compliance and overcome other obstacles by downloading this free eBook today!