Startups are driven by innovation. Developing a product or service that adds value to the market is a difficult task. Starting from scratch with a limited budget leads to tunnel vision when it comes to prioritizing the company's goals. Putting together a team and seeing an idea through from start to finish can seem daunting. There is a lot that goes into being successful in the startup environment, but one important aspect is always overlooked: compliance.
Cybersecurity Compliance in a Nutshell
Compliance is a word that is thrown around like a baseball. But what does it all mean? And, what are the ramifications of ignoring this concept?
Compliance is an often-overlooked business activity critical to a company's survival, especially in today’s landscape of increasing cyber-attacks. Unfortunately, many organizations believe that compliance is simply the process of implementing policies and procedures to avoid these catastrophic events. While this is true to some degree, there’s a lot more to implementing an effective compliance solution. In summary, compliance creates an "insurance policy" for security operations. This benefits the organization and bolsters its security posture. More importantly, it provides a competitive edge, demonstrating a commitment to both transparency and data security to customers. For prospective customers, compliance is frequently a deciding factor in an RFP submission. So, if you’re interested in building your client base, achieving compliance is a key strategy in today’s climate. There many more strategic reasons for organizations to invest in compliance, but how does it directly impact startups?
Compliance for Startups
The Old-School Method
Many startups are unaware of SOC 2. While it is not a requirement of the government, it is often a requirement of prospects. Many startup companies are discouraged after learning how time-consuming and expensive it is to complete SOC 2. The old-school method of completing this framework requires months of coordination with a SOC 2 consultant. Since you are at the expert's mercy, this can be a very expensive and frustrating process. The organization of policies and evidence is left to prehistoric technology: spreadsheets. After slogging through the requirements, startups are left with another costly decision: what auditor do we use? Auditors can be very expensive, especially if you are missing evidence or content. This can drag out the process even further.
The New-School Method
There is, fortunately, an easier way than juggling spreadsheets and endless consultants using compliance automation software. ControlMap has accelerated the process by introducing a user-friendly interface that organizes all of your content. We provide all pre-built policies and have mapped them to the framework controls in our program.
This process begins with scoping your company's business activities and then developing a clear audit plan. The beauty of our software is that it integrates with your existing systems to automate evidence collection. This ensures that you are compliant for any future audits. ControlMap will not only prepare you for an audit, but will also provide a list of auditors who are familiar with our software. We carefully chose auditors based on reputation, experience, and cost savings. They will be present from beginning to end.
For us, partnerships are the cornerstone of compliance and we are here to be your partner in getting started with SOC 2, helping jumpstart your compliance journey and breeze through your audit.