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Complying With Compliance: Managed Service Providers Help SMBs Handle New Regulations

Complying With Compliance: Managed Service Providers Help SMBs Handle New Regulations

by Rick Turoczy on June 22, 2006

Today’s regulatory landscape can be confusing for any company. For smaller companies, there simply may be too many details to master and manage. While business long has co-existed with vigorous regulatory agendas, recent rule changes and additions are making the burden truly onerous.

In 1996, Congress passed the Health Insurance Portability and Accountability Act (HIPAA) to ensure health care portability for employees. Three years later, the Gramm-Leach-Bliley Act (GLBA) arrived, providing protections against the sale of data from private financial transactions. Sarbanes-Oxley came next, adding a slew of new regulations to boost accountability for publicly traded companies. And now, many SMBs must comply with the Payment Card Industry Data Security Standard (PCI-DSS), which establishes a set of unified procedures to secure the storage, transmission and processing of credit card data. Data security and integrity, in fact, are essential for any SMB that wishes to follow each of these regulations properly.

In this environment, the regulatory burden can play a huge role in fundamental business decisions. It may be a factor in key determinations regarding how the company grows, what its personnel policies are, or whether the company considers going public. Operationally, regulatory adherence dramatically can increase administrative and legal costs, while distracting a company from its core business.

Complying With Compliance: Managed Service Providers Help SMBs Handle New Regulations

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