The Answer to Your Data Risk Management and Compliance Dilemma
Written by Mariano Mattei and Sanya Dayo
Is your company undergoing a digital transformation?
Look around your industry. Most likely your competitors are in a mad dash to gather and use data more effectively, to enter new markets and/or to surpass their competition.
This ever-growing body of data offers organizations great power, and with great power comes great responsibility. In response, both the government and your third party partners are rightfully mandating that companies protect data, and ultimately, protect consumers.
What is your level of responsibility? For a quick gauge, consider the following:
- Is your organization required to adhere to multiple compliance standards and regulations such as HIPAA, NIST, GDPR, SOC 2, and others?
- Does reporting on these standards and regulations to your stakeholders and constituents incur a heavy lift on your operations?
- Does your organization need to manage its information security and privacy risks and obligations in a way that can be accurately measured?
If you answered ‘Yes’ to any of these questions, welcome to the twenty first century. Keep reading, this blog is for you.
The solution that you’ve been seeking is the HITRUST Common Security Framework, better known as the “HITRUST CSF.”
The HITRUST CSF is a prescriptive, risk- and compliance-based information security and privacy framework developed by data protection professionals and industry leaders. Organizations can certify against the HITRUST CSF to demonstrate to clients, regulators, and all of their third party providers and stakeholders that they comply with their regulations and industry-specific information security and privacy standards.
The HITRUST CSF simplifies this ordinarily lengthy process by utilizing an ‘assess once, report many’ approach.
Rather than performing individual assessments and audits for each standard and for each provider, supplier, or customer to verify compliance, you could instead undergo a single HITRUST CSF assessment.
After receiving the certification, you could potentially address your compliance framework and standards requirements in one fell swoop.
This is especially helpful for organizations that must adhere to multiple compliance frameworks and are required to respond to multiple security questionnaires.
An additional benefit that HITRUST CSF certified organizations enjoy is that the controls relevant to their certification are constantly revised to incorporate new best-of-class security recommendations and updates to compliance regulations.
Year over year, these organizations can rest easy knowing that they are on top of their compliance obligations.
For these reasons, the HITRUST CSF is quickly becoming the premier, default, accepted standard for many leading third-party security and privacy audit requests.
Ready to learn more?
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