Technology
Technology companies rely on ZenGRC as their go-to unified platform to manage controls across multiple frameworks, empowering CISOs to monitor key performance indicators for compliance and IT security efforts.
The Regulatory Burden
Technology firms today face a volatile environment. The demand for technology services from large corporations is high, and the range of services they want is diverse: data storage, payroll processing, document management, audit management and so forth.
This is a significant opportunity for technology firms. And the cloud is a fantastic vehicle to help them meet those corporate customer needs: technology firms can provide services to their customers on an as-needed basis — and customers can save money on equipment purchases, reduce implementation time and lessen human resources needed for maintenance.
At the same time, however, the cloud also means barriers to entry are low. Many tech firms might compete to serve the same sales prospect. To prevail, they will either need to offer the lowest price (an undesirable race to the bottom) or offer the best service.
Many regulatory burdens for tech providers come from their clients; whatever regulatory obligations those clients have also extended to service providers supporting those clients. So the clients themselves have a compelling interest to assure that the service provider can meet their standards.
For example, a tech provider might be exposed to:
- Achieving a SOC 2 certification
- NIST security protocols, if the client is a government agency or government contractor
- The COSO framework for internal control over financial reporting, if the tech firm helps clients manage accounting or financial functions
- HIPAA requirements, if clients use it to store or process health information
- State-level breach disclosure laws, if the tech firm stores or processes other personally identifiable information
- A client’s own unique privacy or security demands, regardless of regulatory requirements
Compliance Objectives
Typically corporations will request a SOC 2 audit from tech providers. This audit assesses the design of a provider’s security controls and how well those controls perform.
SOC 2 audits, however, can be tailored to assess a wide range of concerns: security, privacy, availability, process integrity and confidentiality. A tech provider will need to address a wide range of client demands, depending on the specific engagement and the client’s data security needs.
Among the capabilities, firms will need to be able to:
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Assess vulnerabilities in the network and application layers
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Study data collection practices for non-compliant behaviors (say, failure to secure consent for collecting data from EU citizens)
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Remediate any weaknesses, either through security patches to software or through changes to data collection practices
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Map progress on those remediation efforts
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Be prepared to report those risk assessments and remediations to other parties as necessary
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Integrate new threat alerts or updated regulations into your compliance program as they come along
Ebooks
Guides
Preparing for a SOX Audit Using COSO: Internal Controls and Security at the Heart of SOX
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Webinars
Top Initiatives for Infosec Teams to Consider in Implementing Business Continuity & Resiliency
Watch WebinarVendor Risk Management: What your organization can and cannot do under the GDPR
Watch WebinarHow GRC planning protects your company’s brand against the next cyberattack
Watch WebinarBlazing the Trail: Develop a Compliance and Risk Management Plan in 6 Weeks
Watch Webinar
Articles
The Difference Between Vulnerability Assessment and Vulnerability Management
Read ArticleCCPA Exemptions: The California Consumer Privacy Act and the Gramm-Leach-Bliley Act
Read ArticleHow Big Data Analysis Helps Compliance & Business Leaders Make Better Decisions
Read ArticleCompliance Offers Internal Stakeholder Value: Automation as Transmogrifier
Read ArticleRisk Management Automation and Customer Engagement: Rupees in the Grass
Read Article7 Challenges of Being an IT Compliance Manager: Automation Makes You an American Ninja Warrior
Read ArticleCybersecurity Awareness Training Game to Celebrate Cybersecurity Awareness Month
Read ArticleiPhone X and Security: Becoming James Bond and Protecting Your Organization
Read ArticleProtecting Your Corporate Website as an Enterprise Risk Management Strategy
Read ArticleCloud Security Compliance: 11 Steps on the Stairway to Cloud Services Heaven
Read ArticleLegal Liability in Information Security: How Compliance Can Be Used to Protect Assets
Read ArticleWebinar Recording Now Available – 6 Time Saving Steps to Simplify Your GRC Strategy
Read ArticleHow to Conduct a Compliance Self-Assessment – an Excerpt from our GRC Software Buyers’ Guide
Read ArticleWhen to Implement a GRC Tool? – An Excerpt from Reciprocity’s GRC Software Buyer’s Guide
Read ArticleSmarter Compliance, Less Risk – an Excerpt from Reciprocity’s GRC Software Buyer’s Guide
Read ArticleWhat is GRC – an Excerpt from Reciprocity’s GRC Software Buyer’s Guide
Read ArticleZenGRC v2.4 Release Features New Audit and Evidence Request Dashboards, and More
Read Article“Competent Compliance” Webinar Recording Now Available, Learn How to Move Beyond Spreadsheets
Read ArticleJoin Our Live Webinar – Competent Compliance: 3 Ways to Move Beyond Spreadsheets
Read ArticleZenGRC v2.2 Release Features New System of Record Dashboard, Tree View Updates
Read ArticleZenGRC v2.1 Release Features Improved Audit Capabilities, Simplified Customer Support
Read ArticleHow to Tell if it is Time to Start a Compliance Program [Infographic]
Read ArticleA Perfect Nightmare: Compliance and Record Keeping Disaster Waiting to Happen
Read ArticleChanges Are Coming For The Trust Services Principles And Criteria – Are You Ready?
Read ArticleSelecting the Right Service Organization Control Report for Outsourced Operations
Read Article
FAQs
Infographics
Technology related Use Cases
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