Regulatory Compliance Management

Regulatory Compliance Management for Your Company’s IT Infrastructure

Move Forward With neKey’s Regulatory Compliance Management Software

Regulatory compliance management is critical for any business, as it helps ensure your organization meets all relevant laws and regulations regarding information technology. For these reasons, neKey allows companies to create a program to keep your practice running safely and securely without wasting valuable time.

Regulatory Information Management at neKey

Regulatory compliance management collects, analyzes, and stores information, such as laws, standards, and policies, to ensure that your business complies with all applicable regulations. Our process involves a wide range of areas, including data security and privacy, software licensing and distribution, energy efficiency requirements, environmental protection procedures, and more.

The Dangers of Ignoring IT Compliance

If companies fail to implement proper measures for maintaining regulatory compliance management programs within their organization, they could face significant consequences down the line.

Financial Risks

One of the primary risks associated with ignoring IT compliance is the potential for financial losses due to penalties by governing bodies such as the FTC or EU. These fines can extend into the millions, depending on the severity of the violations. Not only will these hefty fines negatively impact a company’s bottom line, but they may also cause long-term financial implications such as higher insurance rates or other related costs.

Data Security Risks

Another risk is that customer data stored within an organization may not be adequately protected against cyberthreats such as hacking or malware attacks. Companies without adequate security protocols or measures could find themselves at a higher risk for data breaches. This could expose confidential information, which would have implications for customers and legal liability issues for the business itself.

Reputation Damage

Lack of oversight can cause reputational damage due to customers feeling that their personal information has not been safeguarded against potential risks. Decreased consumer confidence in an organization could have long-term impacts on your ability to generate revenue through sales and services.

Legal Liability

Businesses that fail to follow IT laws and regulations face legal liabilities stemming from customer lawsuits relating to privacy violations, or other issues. Ignoring IT compliance could put your business at risk for costly litigation expenses, even if no actual harm was done in terms of financial loss or unauthorized access to sensitive information.

Discover Your Regulatory Compliance Management Solution Today

At neKey, we maintain the security and continuity of your systems and applications. Schedule a consultation for IT compliance solutions today.

Why neKey’s Regulatory Compliance Management Benefits Your Business

Using neKey’s specialized software solutions offers several benefits when it comes to managing regulatory compliance programs. Our systems allow businesses to provide notifications when revisions occur so that you can quickly adjust your strategy accordingly. We can also help identify potential problems by providing insights into how various departments perform relative to established regulations. neKey makes it easier for companies to show proof of compliance if needed by auditors or other external entities due to their comprehensive report features. Let’s break down a couple specific takeaways:

Improved Cyber Security
With data breaches on the rise, cyber security is one of the most important aspects of regulatory compliance management. At neKey, we have all the expertise to guard client data, while also making sure that any third parties do not breach any sensitive information. Our encryption software allows businesses to protect confidential files, giving you peace of mind to refocus energy on other necessary aspects of your daily operations.
Strong Compliance With Industry Standards
No matter what industry you serve, organizations must ensure they have strong internal processes to follow applicable industry standards at all times; otherwise, you could face fines due to non-compliance issues. At neKey, our specialized software provides businesses with complete control over respective configurations through our dashboard interface technology.

The Regulatory Information Management Process at neKey

For companies who need help managing their regulatory compliance programs, neKey can help you handle new legislation or policy changes. Our regulatory compliance management software offers tools to track the latest laws and regulations relevant to your industry, while we manage your relevant documents and store them securely in one location. We can even make it easier for businesses to access historical data related to their regulatory compliance activities. Here is our complete process at neKey:

Get internal approval and alignment: neKey identifies stakeholders, authorities, and subject matter experts, ensuring everyone understands the goal and has a clear mandate with our designated compliance team.
Review policies and procedures: Reviewing previous standards is one of our first steps to ensuring compliance with current regulations. We then update outdated content and determine who will make and approve changes.
Communicate the benefits: At neKey, we stress the importance of our program and clearly state expectations to our clients. This helps keep employees informed of updates with policy management software.
Risk assessment: neKey prepares your system by simulating potential threats to your information technology, ensuring you are prepared for data breaches. We also offer employee training to keep your team ahead of the curve.
Ensure accountability: Additionally, neKey monitors employees and regularly reviews policies to keep our regulatory compliance management software relevant.

neKey: Your Source for Trusted Regulatory Compliance Management

neKey is dedicated to the success of your business and offers a customized approach to IT support for regulatory compliance management audits. Our team works closely with you to create unique solutions that cater to your specific needs and goals. We assist with implementing new technologies, improve your current systems, and offer continual maintenance and support. Give our experts a call today.

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