6 Ways Compliance as a Service Saves Companies Time 

Let’s set the stage. You’re managing a company amid rising labor costs and inflation, striving to maintain net income without sacrificing the vital components that generate revenue. 

Navigating this landscape feels like a knife fight. The market feels like a battleground, and your priority is to ensure the business focuses on its core strengths while also preventing any significant decline in supporting capabilities. 

I won’t pretend to understand your business better than you do. You’ve undoubtedly examined the situation from various angles and likely implemented measures to address it. Perhaps you’ve already devised effective solutions. 

If that’s the case for you, then congratulations. However, I’m aware that there are individuals who haven’t quite figured out their next step yet. While we may not be able to solve the entire problem for you, perhaps we can help with a portion of it. 

Your organization must adhere to security compliance standards, likely outlined in nearly every customer contract. Whether it’s maintaining ISO 27001, PCI, Hitrust, or ensuring up-to-date SOC2 reports, your revenue is directly tied to compliance. This likely isn’t news to you. 

What might come as news is the possibility of outsourcing that function to a vendor without any compromises. 

Here’s what we’ve discovered when companies opt for this approach: 

1. They save a ton of money.  

Specifically, companies can cut their security compliance spend by half once all is said and done, saving a ton of money in the process.  

2. They free their engineers up to work on revenue generating activities.

Security compliance generally is a massive time suck for product teams, specifically the SREs and the developers. Some vendors, like risk3sixty, deliberately consolidate all an organization’s security controls into a single framework as part of their managed program. This means each stakeholder only needs to provide evidence or answer questions once, satisfying various compliance obligations. This approach can potentially save engineering teams hundreds of hours per year. 

3. They can onboard new compliance frameworks with the stroke of a pen. 

For instance, if a customer demands CMMC, or if there’s a plan to sell products to federal or state agencies when the company currently focuses on commercial clients, traditionally, this would require hiring and building a specialized compliance team to tackle initiatives like FedRamp or CMMC. However, with Compliance as a Service, it’s as simple as processing a change order, enabling the company to expand into new markets without the need for extensive internal restructuring. 

4. They simplify processes with GRC  tooling solutions.

You know how building, configuring, and operating GRC tooling can be an enormous time sink? It’s quite burdensome and often leads to frustration. Risk3sixty’s Compliance as a Service solution incorporates its fullCircle GRC tool, designed specifically for this purpose. This tool is included in every engagement, along with a dedicated team responsible for building, configuring, operating, and troubleshooting it on behalf of the client.

5. They have substantial time savings, primarily in engineering hours.

With simplified onboarding and tooling, companies experience substantial time savings, estimated at several hundred hours per year. This translates into accelerated product development, as engineers are no longer bogged down by compliance tasks, ultimately leading to increased revenue.

6. They increase revenue by streamlining processes and allowing for focus on core business activities.

By freeing up engineers to focus on revenue-generating activities and accelerating product development, Compliance as a Service directly impacts the company’s bottom line, resulting in increased revenue and business growth.  

Understanding the overwhelming nature of the challenges you’re likely facing, we acknowledge that we can’t solve all of them for you. However, our objective is to make a significant impact wherever possible, while also returning substantial amounts of time to your team.

Interested in learning about how Compliance as a Service (CaaS) can save you time? Contact us to determine if CaaS is right for you now or in the future

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