As business environment changes, compliance remains crucial

As business environment changes, compliance remains crucial
The need for regulatory compliance in any industry is constant, but the issues involving compliance in data-related fields are constantly shifting, thanks to improving technology and the changing face of business.  Here are some developments that will impact data-related industries in the coming years — and how a provider with a strong record of compliance and security can deal with them.

 

Increased automation: Robotic Process Automation (RPA) had a dramatic impact on the data processing field in 2017, and the trend will no doubt continue. Though accounts payable processes are becoming more automated, that doesn’t entirely eliminate concerns about fraud, error and abuse. Automated control is not perfect, and cyber-criminals will take advantage of the gaps in automation to commit fraud and abuse. But using automated processes to check transactions for instances of fraud, error and abuse can help prevent those problems, making it crucial to find a reliable provider who is compliant with state and federal security requirements, as well as industry standards.

 

Improved technology: As with all other aspects of technology, data processing software continues to improve, becoming faster and more efficient. While these tools can streamline the workflow and improve your organization’s bottom line, they can also create new loopholes and hazards that compromise the security of your data. Once again, taking care to choose a provider with a record of strong security and compliance standards will ensure that your organization’s information remains safe regardless of how technology develops.

 

Greater collaboration:  With more businesses working across integrated platforms as well as sharing data and information to achieve common goals, issues of compliance and security become more complex. What your organization requires might not coincide with the needs of your collaborators, opening up issues of risk and possible fraud or error. Outsourcing your data processing needs to a experienced, tech-savvy company with a record for compliance and security can reduce that risk and ensure that your data remains safe.

 

 

 

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