When your business handles confidential information, such as identification and credit card numbers, you need to prioritize cybersecurity. Depending on what industry you operate in, you may have to observe stricter data compliance regulations and undergo data compliance audits. Non-compliance may seem like a shortcut in the short-term, but it ends up being very costly. Consider IT consulting in Arkansas to help you stay on top of data compliance.
Why Data Compliance Matters
Some sectors are more sensitive and therefore subject to regulatory agencies. The healthcare sector, for example, is subject to the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Consider the sensitive nature of the data held by hospitals and healthcare companies. Patient medical records and other confidential and identifying information need to be safeguarded. Hospitals are not immune to cyberattacks, and hackers work hard to exploit any gaps in their security systems.
Data breaches have many negative consequences. The victim, who could be a customer, patient, or supplier, must find a way to recover from having their private information exposed. The company that has been attacked may have to deal with lawsuits, decreased confidence from clients, a bad reputation, and possibly a decline in business. Penalties for data breaches in the healthcare sector, for example, can be quite stringent. There can be civil or criminal penalties and HIPAA fines which can range up to hundreds of thousands of dollars. With professional IT consulting in Arkansas, you can stay compliant and avoid these consequences.
Practical Steps Towards Compliance
To safeguard your business, you must first begin by finding out what the latest regulations are in your industry. You should understand what is required of you when it comes to data compliance audits. This way you can incorporate compliance into all your business operations and processes. You should also consider having a security assessment conducted for your business. This identifies risks in your security measures so that you can do what is necessary to address these vulnerabilities.
Data compliance is a serious matter, so it can help to work with a company with expertise and experience in this. At JMARK Business Solutions, Inc., we have worked with companies in many different industries including the medical, finance, education, and manufacturing sectors. Through our IT consulting in Arkansas, we can help secure your systems and make your business audit-ready. Get in touch with us for more information about our IT products and services.