You may or may not be surprised to know that only 28% of organizations confirm that they were fully compliant with the GDPR over the course of a year. It’s understandable, then, that executives and professionals would be concerned with compliance and security in the workplace.
Non-compliance could happen as a result of anything from a data breach to a ransomware attack. As new regulations are continually introduced, companies have all the more reason to develop a compliance management program that can not only keep them up to date, but protect them from outside attacks that can be damaging.
What is the real cost of non-compliance?
Without taking the proper steps towards effective compliance management, many companies will face the consequences. For some that means fines and for others it could mean product loss. Either way, non-compliance can cost an organization.
Here’s a few examples of what non-compliance cost these companies:
- Equifax: A data breach in 2017, which included the loss of around 150 million people’s personal information, cost Equifax around $575 million
- Marriot: Paid a $124 million fine that was fortunately later reduced
- Uber: Poorly handled a breach in 2016 and ended up paying almost $150 million
- Medical facilities: 2018 was a tough year for many medical facilities as a health data breach had the US Department of Health and Human Services collecting major fines
How to avoid compliance worst-case scenarios
Sure, the examples listed above were situations that came with extensive consequences. These companies are each big brands that are in a decent position to be able to deal with the legal and regulatory compliance issues that go thrown their way. But what about companies who are smaller and don’t necessarily have the means to even begin to face the costs that come with non-compliance worst-case scenarios?
The bottom line for companies, regardless of whether they’re a big brand or a small company just getting their feet off the ground is to practice compliance management. Even the smallest of incidents can have a great impact on the reputation and financials around a company.
Protection with compliance management
You might be wondering where to start when it comes to creating and managing a compliance policy for your workplace. One of the best ways is to implement a visitor management solution.
Visitor management solutions replace the dreaded pen and paper that often exists at the front desk of your organization. Instead of having visitors sign in on paper which comes with tons of additional risks, a visitor management solution helps you to stay organized, secure, and most importantly, compliant.
Why visitor management compliance solutions work
Plain and simple, visitor management solutions like Sine allow companies to stay compliant. Here are a few ways they do so:
- Visitors can specify if and how they would like their data to be used. This could be for things such as trend analysis
- Organizations can keep a close eye on who is visiting their facility
- Health and safety regulations are made abundantly clear to all visitors in the workplace
- Visitor identities can be easily verified and stored for future reference
- Blocked visitors can be flagged and denied access if they have been listed as a non-permitted visitor
- Sign-in flow is made seamless
- Wi-Fi access is secure and can be readily available to guests when and if they need it. It can also be protected to keep unwanted users from accessing it
- Companies can completely digitize and automate their entire induction processes (among all other workflows)
- Admins can create custom inductions, permits, SWMS, access requests and inspection workflows
While perfect regulatory compliance is something that can be difficult to achieve, getting close to perfect is a lot more achievable with the right tools on your side.
As you log your visitors and take the time to manage them, the process is simplified when it comes time for an investigation. It’s all about taking preventative measures and getting as close as you can to all around compliance.
Compliance management made simple
Investing in effective compliance management can help your organization protect your business operations against breaches and maintain your brand reputation. Compliance managers at Sine can help you automate and digitize regulatory compliance procedures such as document collection and verification.
Not only can Sine save your staff time, but we can also help you create an immediate audit trail. With this, you can prevent non-compliant individuals from entering the site. Benefit from automatic reminders that alert you when compliance documentation expires. In addition to prompts that provide the latest documentation on the status of your compliance systems.
Now that you understand what an effective compliance management system offers, are you ready to get started? Book a demo with our team today.
Book a free demo with the Sine team today!