Enterprises these days are facing a triple threat: stiffer government policies, volatile cyberspace and an extra-competitive economy. And without a well-planned strategy, it will be hard to survive all these and hit high-performance goals. Hence the need for an effective GRC strategy. Since its invention in 2003, GRC as a strategy for achieving organizational goals amidst uncertainty and with integrity, has stayed true to its primary purpose. Despite the increasing turbulence in the economy.

In business, we measure everything. Like the saying goes, “What gets measured gets done,” and most companies pay close attention to KPIs like qualified leads, new pipeline, net customer retention and fraction of roadmap completed on time. But if you were asked, “Are you meeting all your trust obligations with your employees, customers, board members, and the government?”, how would you answer?

In this episode of SaaSTrana, Venky and Raghu, Co-Founder of Sprinto, discusses why SaaS companies should pay close attention to security measures to become SOC 2 compliant.

In a highly connected, internet-powered world, transactions take place online, in person, and even somewhere in between. Given the frequency of digital information exchange on our devices, including smartphones and smart home gadgets, cybersecurity has never been more important for protecting sensitive customer information. In response, the US Federal Trade Commission has rolled out updated measures to ensure that customers’ details are fully protected.

As organizations respond to an ever-evolving set of security threats, network teams are scrambling to find new ways to keep up with numerous standards and regulations to dodge their next compliance audit violation. Can this nightmare be avoided? Yes, and it’s not as complex as one might think if you take a “compliance first” approach.

In recognizing the growing impact of third-party risks on operational resilience, the Prudential Regulation Authority (PRA) has established new regulatory requirements in the areas of third-party risk management and outsourcing. The details were published in a Supervisory Statement that has been put into effect since March 2022.

The ephemeral nature of the cloud has made compliance and security a greater challenge for organizations. The volume of data that companies must collect and retain from their cloud services, depending on their industry, is ballooning fast. According to ESG, 71% of companies believe their observability data (logs, metrics and traces) is growing at a concerning rate. Even so, outcomes are getting worse, not better. Six out of 10 teams are unable to prevent issues before customers are impacted.

Standing up a strong compliance program is critical for any organization expected to show adherence to SOC 2, HIPAA, PCI, ISO27001 and other frameworks – and it can be very challenging. For starters, you have to juggle evidence collection, task management, policy mappings, and monitor controls across multiple frameworks.