The demands of an in-house compliance team have never been higher. Compliance requirements are steadily increasing, and they don’t appear to be slowing down anytime soon. At what point should your business consider outsourcing compliance monitoring?
Some companies struggle with the idea of outsourcing, since they want to leave all of their practices in-house. While that strategy is an understandable one, it may also be putting the company at more risk in reality. Sometimes using a managed IT solution is the best way to go when the time is right.
Factors Driving The Decision to Outsource Compliance Monitoring
There are several reasons why a business may want to consider outsourcing compliance monitoring. Some of those reasons include, but aren’t limited to:
- Having a shortage of in-house staff
- Increase of operating costs
- The need for more global compliance
- Needing more security than an in-house staff can offer
- Demands being too high for an in-house staff
- 24-7 Security/Compliance support
No matter what your company’s reason is for considering outsourcing compliance monitoring, just know IT support for businesses has never been greater and more secure than it is today.
Risks Associated With Outsourcing
Of course, there are risks associated with outsourcing, just like there are with any business decision you make. One of the reasons why business owners are hesitant to make the decision to outsource is because it’s not a revenue-generating decision. The confidentiality issue creeps into their minds as well. However, managed security service providers can help prevent major issues from occurring in your network, which could be devastating for the present and future outlook of your company. Finding a third-party managed security service provider you trust is the biggest factor when it comes to being at peace with your outsourcing decision.
Security is the Main Issue at Hand
When it all comes down to it, your company’s security is most important. Most of the time, managed security service providers are the best options to help a company remain secure and compliant with the ever-changing security requirements. These teams and services always stay on top of the newest regulations so your in-house staff doesn’t have to worry about it. Not only will they keep your information secure, but they will also be proactive in ensuring compliance at all times.
At Single Point of Contact, we are the go-to source for any security and compliance issues for hundreds of companies across the globe. If your business has been considering outsourcing compliance monitoring for any reason, be sure to contact us to learn what we have to offer.
