{"id":92530,"date":"2021-01-14T11:00:41","date_gmt":"2021-01-14T19:00:41","guid":{"rendered":"https:\/\/www.microsoft.com\/en-us\/security\/blog\/\/?p=92530"},"modified":"2023-06-01T10:26:58","modified_gmt":"2023-06-01T17:26:58","slug":"simplify-compliance-and-manage-risk-with-microsoft-compliance-manager","status":"publish","type":"post","link":"https:\/\/www.microsoft.com\/en-us\/security\/blog\/2021\/01\/14\/simplify-compliance-and-manage-risk-with-microsoft-compliance-manager\/","title":{"rendered":"Simplify compliance and manage risk with Microsoft Compliance Manager"},"content":{"rendered":"

The cost of non-compliance is more than twice that of compliance costs. Non-compliance with the ever-increasing and changing regulatory requirements can have a significant impact on your organization’s brand, reputation, and revenue. According to a study by the Ponemon Institute and Globalscape<\/a>,<\/u> being compliant will cost you less compared to business disruptions, loss of revenue, and hefty fines.<\/p>\n

Data explosion and regulatory environment<\/h2>\n

As organizations go through digital transformation, they are generating and consuming much more data than in the past to help them gain an edge over their competitors. This data is necessary to continue to stay relevant by empowering employees, engaging customers, and optimizing operations. Managing this data and the variety of devices on which it is created can be complicated, especially when it comes to ensuring compliance.<\/p>\n

Not only is the amount of data IT must manage exploding, regulations on how that data can and should be handled are also increasing. Collecting customer and citizen data is often an integral part of how public and private sector organizations function. While there has been progress over the last few years, the challenge of maintaining and protecting personal data continues. Regulations are creating a need for the responsible usage of personal data, and the stakes are high. Not complying with regulations can result in significant fines and reduced credibility with regulators, customers, and citizens.<\/p>\n

Manage compliance challenges<\/h2>\n

According to a recent report about the cost of compliance<\/a>, there were more than 215 regulation updates a day from over 1,000 regulatory bodies all over the world, a slight decrease from the previous year. For example, enforcement of the California Consumer Privacy Act (CCPA), Brazil\u2019s Lei Geral de Prote\u00e7\u00e3o de Dados (LGPD), and Thailand\u2019s Personal Data Protection Act (PDPA) began in 2020.<\/p>\n

Organizations face all kinds of risks, including financial, legal, people, IT, and cybersecurity risks. Below are some of the challenges we are seeing due to the dynamic nature of the compliance landscape.<\/p>\n