Boost Compliance in Your Business with the Power of Automation

Achieving and maintaining regulatory compliance is vital for businesses of all sizes, across almost all industries. Not only does meeting compliance standards help businesses operate in a regulated, uniform manner within their industry, but it can also mitigate common operational headaches and setbacks. 

Adding an automation solution can be key for businesses looking to further enhance their compliance efforts. This powerful tool can elevate important IT processes focused on maintaining compliance, like reducing fraud risks, preventing costly non-compliance fees, avoiding cybersecurity incidents, and eliminating the potential of human error.  

In our blog, we’ll examine how pairing automation with your existing IT protocols can transform your business into a compliance powerhouse.  

What Regulatory Compliance Is—And Why It Matters 

Regulatory compliance is when an organization is aware of and aligned with all of the laws and regulations within its business and industry. These guidelines can be set at a local, state, federal, or international level. Common examples of compliance frameworks include: 

• PCI DSS 

• ISO 27001 

• SOC 2 

• NIST 

• FedRAMP 

• CIS Controls 

• ISO 

• HIPAA 

While these certainly aren’t the only compliance regulations businesses need to consider, they are among the most widespread—and failing to adhere to them if your business falls under their umbrella could result in dire consequences.  

Most regulatory compliance frameworks were created to keep both businesses and their customers safe from a myriad of risks like leaked personal information, malpractice, poorly designed or built products, health issues, and more.  

There can be no denying the importance that the majority of businesses place on remaining compliant, regardless of their size or industry. With that vitality in mind, investing and relying on technology that can make that goal an achievable one is paramount—and that’s where automation comes in. 

Automation’s Compliance-Boosting Power 

While it’s likely your business already has compliance protocols and procedures in place, automation is the perfect addition to further enhance their effectiveness. 

Eliminate Human Error 

Automation is perhaps most well-known for taking on tasks that have frustrated back-office professionals for years. This includes things like manual data entry and management, filing physical records, tracking down invoices, and more.  

When it comes to maintaining compliance, your business can leverage automation to streamline processes and workflows by reducing human involvement, therefore greatly reducing the chance of staff-made errors. A more accurate back office makes any and all compliance regulations far more achievable and maintainable in the long run.  

Drive Down Fraud Risks 

Fraud is on the rise, which in turn can result in hefty fines for your business if said fraud causes non-compliance with any regulatory laws in your industry. 

Automated technology works to identify and prevent fraudulent events before they can occur. With AI-powered features like OCR, hundreds of thousands of pieces of data can be instantly organized, analyzed, and sorted for incorrect data or an inaccurate payment method.  

Keep Data Secure from Potential Cybersecurity Breaches 

Cybersecurity is a crucial component of maintaining compliance. From staff information to vendor payment preferences, a leak of this information could spell devastation for your business’s reputation, finances, and compliance goals.  

An automated solution can work to tackle these weak points in your security structure with a number of features, like: 

• Customizable data access, ensuring that only the right team members can interact with certain information, files, or records 

• Digitizing physical forms for cloud-based storage, filing, and management, protecting your business from an on-premise event 
• Automated security updates that can be configured to a schedule of your choosing, ensuring your important information is both up-to-date and secure 
  

If your business is ready to bring on an automation solution that meets the strict requirements of compliance frameworks like SOC 2, HIPAA, PCI, NIST, and more, schedule a demo with one of DocuPhase’s experts today!