An effective synergy between regulatory compliance needs and business operations can be difficult if multiple regulations and compliance needs are required for business continuity. There is a critical need for an integrated actionable framework, which can prevent disengagement between business functions and help you manage regulatory compliance with ease.
Quickly adjust workflows and processes to meet risk & compliance needs.
An integrated compliance framework can resolve the following challenges:
The need for multiple compliance directives across functions.
Ensure compliance updates are uniformly driven to avoid any audit risks.
Enable better governance of compliance by tracking the implementations effectively.
Overcome regulatory woes, gain greater
Many organizations struggle with managing compliance when multiple laws, regulations, industry standards and requirements become applicable. These include sources such as GLBA, HIPAA, GDPR, POPIA EU DPD, ISO 27001, ISO 22301, PCI DSS, RBI, SAMA, and NESA.
Phakamo can design a compliance framework to integrate these needs from multiple sources into a common structure. We also have the capabilities to rationalize multiple compliance requirements and create baseline compliance with additional outlier conditions.
However, organizations do face some common challenges while trying to design a framework, some of them include:
- Dealing with multiple similar or overlapping requirements.
- Tackling jurisdiction specific variances.
- Siloed and repeated compliance assessment efforts for similar needs.
Meet compliance and regulatory needs with ease
- Create an exhaustive list of relevant legal, regulatory, and individual requirements.
- Conduct an integrated compliance assessment exercise to derive compliance status against each individual source.
- Design a well-defined compliance management framework consisting of policies and governance documents having clear roles and responsibilities, processes, assessment questionnaires, and procedures.
- Ensure the framework is common across domains and requirement areas (known as integrated requirement identifiers).
- Drive effective tracking, reporting, and communication of compliance status and consistent evidence collection, management, and maintenance.
- Automation of compliance management through GRC solutions to streamline assessments, collaboration, and reporting.
Harmonize compliance controls, Simplify assessments
Phakamo has the required expertise and experience to operationalize a security governance and implementation framework, which can reduce your risk footprint. We can design and deploy sustainable risk management systems based on your business concerns and compliance needs.
Phakamo integrated compliance services can help
organizations by provisioning:
- Reduced set of compliance requirements.
- Single set of control activities and test procedures.
- One overarching compliance assessment to reduce workloads.
- Standardized and effective operations through GRC automation.
The Phakamo Advantage
With our implementation experience for leading clients across industry verticals and geographies,
we are an emerging market leader in automating compliance management through GRC technology implementations. Our teams leverage comprehensive methodologies and toolkits that are aligned to industry best practices and possess a reliable repository of legal, regulatory, and industry compliance requirements.