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Risk & Compliancy

A compliance program ensures that a business complies with laws or regulations relevant to it. However, most SMBs are not very excited when it comes to compliance and many believe it is only for large organizations. Nothing could be further from the truth. In addition to adhering to regulatory requirements, SMBs realize significant benefits from implementing a strong compliance program that minimizes risk and decreases inefficiencies.

Compliance is Achievable! 

HIPAA violations can cost anywhere between $100 to $50,000 per violation and run as high as $1.5 million per calendar year of neglect.
Similarly, GDPR violations can cost anywhere between 2% to 4% of company turnover. 

Get more information on:
Six Essential Elements of an Effective Compliance Program

Sources: 

  1. National Library of Medicine 
  2. GDPR Associates 

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Risk & Compliancy

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