Security & Compliance - Why They Have a Permanent Seat at the Boardroom Table

The fear of breaches and non-compliance with industry regulations have caused businesses to rethink how they approach IT at the c-suite level. The Chief Compliance Officer (CCO) has become tasked with monitoring and managing the vast compliance requirements landscape on a global and local level. Fines for breaches or lapses in compliance with an industry standard or regulation, such as General Data Protection Regulation (GDPR), can equal as much as four percent of a company’s revenue; that is potentially enough to put a company out of business. In the current compliance-driven market, it is imperative to have a security-first mentality when it comes to IT decisions.

In my recent byline in “Corporate Compliance Insights”, I shared the top three reasons why a security-first mentality is crucial to the success of your business. A security-first approach allows companies to address:

• The evolution of security and compliance requirements
• Increasing customer security concerns, which directly impact sales
• The need to be up-to-date on privacy standards, which is seen as an investment in the future

Organizations need an up-to-date, comprehensive cyber-security security strategy that is ready for new regulations and/or standards. This puts organizations ahead of the curve, eliminates any concern that could impact sales, and is an investment in the future of the business.

According to a recent survey, 56 percent of C-level executives believe their organizations have migrated security workloads to the cloud, giving it a prominent seat at the boardroom table, for now and for the future.