Let’s Not Be Frank
IT compliance means abiding by certain laws and legal norms that regulate the handling of data. Most of the time, it relates to handling consumer data, such as the protections HIPAA ensures for patient medical records.
Companies big and small are required to meet compliance standards with internal processes that ensure the safe storage of data. Managing these processes is part of a company’s risk management.
Compliance processes aren’t just important for meeting requirements, either. They also help prevent data loss, hacking, and even espionage and other financial risks. Compliant IT is also more efficient IT.
…If only Frank had known that.
Frank’s story
Frank was a fleet manager for a logistics company for more than 15 years. He had a good relationship with the clients he delivered for and an even better relationship with his drivers. The day came where Frank took his team and started his own firm.
Not long after Frank started his logistics firm, the pandemic hit. Business took off for Frank, because with shuttered storefronts and the sudden boom in e-commerce, there was more demand than ever for companies like his to move products.
Frank wasn’t prepared to scale that fast, though. He was barely able to hire new drivers quickly enough as demand went through the roof.
IT compliance was NOT at the top of Frank’s mind.
Frank thought, “compliance is only an issue if you get audited and fined.” His company had reasonable practices in place to protect data, but he wasn’t devoting enough resources to meet every compliance standard there was.
When Frank’s firm fell victim to industrial espionage, he lost all the company’s data. There were client addresses, employee driving records, and even bank information from payments made.
Under the weight of fines and lawsuits, Frank’s company went bankrupt in a matter of months.

Data privacy is vital to business, and the smaller the business, the more crucial it is. The cost of risks taken on can crush small and even medium-sized businesses otherwise. For a little added guidance, plus the tools you need to manage IT compliance responsibly, contact us today!