Top Reasons Compliance Programs Fail and How to Minimize Exposure

Skyrocketing Costs

Compliance Challenge #2: Skyrocketing Costs

According to Thompson Reuters, more than one billion accounts were compromised last year alone, costing organizations globally up to $1 trillion dollars in losses. In this current threat landscape, regulations and standards continue to increase exponentially, causing many organizations to experience governance, risk and compliance (GRC) like a constant, never-ending root canal…without painkillers, while spending massive amounts of money and time on research, hoping they're getting it right.

Organizations must find ways to reduce audit and compliance costs by properly defining system scope and related control requirements. This can be done by leveraging a comprehensive compliance framework that provides guidance across a wide range of standards, laws and individual mandates.