PCI DSS, HIPAA, GDPR – the alphabet soup of regulations can be overwhelming to many businesses. While these and other regulatory frameworks were created to protect individuals and companies, their complex requirements present a sizeable and pricey challenge to the organizations that must comply. And there are certainly more regulations to come.
Believe it or Not, Compliance Saves Money
While compliance with regulations like Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and General Data Protection Regulation (GDPR) come with hefty price tags, the alternative is far more costly. In fact, this recent report finds that the cost of non-compliance is 2.71 times higher than the cost of compliance. Organization that delay compliance efforts are taking an ill-advised risk which could ultimately yield a pricier penalty.
Can Your Company Afford the Risk?
Learn more about:
- The cost of data regulation compliance
- The price you pay for non-compliance
- A breakdown of compliance costs by industry
- Measures that reduce compliance costs
in this Ponemon Institute report: The True Cost of Compliance with Data Protection Regulations
About the Study
Ponemon Institute and Globalscape conducted The True Cost of Compliance with Data Protection Regulations to determine the full economic impact of compliance activities for a representative sample multinational organizations. The objective of this research is to determine the full costs associated with an organization’s compliance efforts, including the cost of non-compliance with laws, regulations and policies.
