In this article we explore how AI-powered automation can transform compliance from a costly obligation into a strategic advantage.

Transform your compliance strategy

Organizations recognize the importance of moving their compliance strategy from a cost center to an asset requires a new path forward along with a reassessment of what compliance means to their business. Maintaining a positive compliance posture creates business opportunities, particularly in regulated industries, including healthcare, finance, and government.  

Transitioning compliance management and regulatory compliance from a cost center to an asset requires introducing new solution capabilities and compliance strategies. 

Our AI-powered compliance automation platform, reduces the cost of compliance operations by processing documentation and URL-based content into a user-friendly collaboration platform. This new platform automates and optimizes an organization’s security and compliance policies into an easy-to-use workflow designed to reduce the complexity of mandates through AI.

Are you looking to transition compliance as an asset? Learn more about Tiebreaker-AI. 

Clearing the path for compliance to become an asset.  

Organizations supporting various compliance mandates, including ISO 27001, must allocate valuable financial capital for meeting compliance standards by hiring auditing resources and retaining security operations engineers and IT system administrators. Compliance officers and executives also face additional costs of engaging outside third-party audits and assessment firms to validate their current compliance status. 

As an example, for organizations required to maintain PCI-DSS to continue to accept credit card payments, there is a cost breakdown for sustaining this industry-driven compliance mandate: 

For example, organizations aligning their compliance framework around ISO 27001 security standards, here is a cost breakdown for sustaining this industry-driven framework: 

• Penetration testing (ISO:27001: A.12) costs organizations between $4,000 and $100,000 or more, depending on the scope and frequency of the engagement. 
• Remediation (ISO:27001: A.12.6.1) services performed by an external service provider could range between $5000 and $25000 per engagement. 
• Audits (ISO:27001: A.12.6.7) executed by a licensed auditing firm could cost between $30,000 and $40,000. 
• Vulnerability (ISO:27001: A.12.6) scanning services performed by a third-party assessment could cost between $100 and $200 per IP address. 
• Log management (ISO:27001: A.12.4) outsourced services for PCI-DSS could cost around $10,000 per month. 
• Change Management (ISO:27001: A.12.1.2) Change management services costs will vary. The cost for one internal FTE is around $65,000 per year. 

However, despite the expenses, accepting credit cards is crucial for online retailers, physical stores, educational institutions, and service providers as it directly affects their revenue and ability to attract new customers.  

Consequences of non-compliance  

Organizations failing to sustain their various compliance mandates will face costly fines, lawsuits, removal from revenue-generating opportunities within highly competitive regulated markets and be subject to audits from relevant authorities. Knowing they are not compliant, organizations choosing to continue operate in this negative status will also face criminal proceedings.  

C-levels and the board of directors provide executive oversight and sponsorship and support all external communications directives; the rest of the organizations are critical in supporting the company’s compliance status. The C-levels are responsible for reporting all material security breaches and compliance violations to outside regulatory agencies.  

Employees follow IT and cybersecurity policies, including using correct password schemes, reporting suspected email phishing attacks, and ensuring all critical data is encrypted, which helps their firm stay compliant. 

What role will AI play in compliance management and automation? 

Organizations wanting to stay current with the constant changes in industry regulations, compliance, security, and privacy mandates will continue to struggle because of challenges in accessing talent with the knowledge needed.  

Organizations also need to invest considerable capital in policy creation and content management systems to facilitate revisions and acceptance workflows. However, over time, they quickly find themselves non-compliant without the means to automate these policies and validate them against changes within various compliance mandates.  

Enabling AI-automation for compliance optimization  

Maintaining a positive compliance posture requires extensive investment in human capital resources, compliance administrators, policy creation specialists, and security operations. Aligning these costly resources to help with meeting compliance mandates while ensuring the various digital assets stay protected is very time-consuming and expensive. 

Tiebreaker-AI’s introduction of its AI powered platform, shows a growing trend in the cybersecurity and compliance industry. Organizations need to consider AI automation as a critical step to moving compliance from a cost center to an asset. 

AI-automation tools like ours process the various policies documents, URL-based, presents easy-to-use collaborative workspace unifying the compliance status and view across the entire organization, while reducing overall compliance management operational expenses. InterVerses’ ability to ingest policy documentation, source content from the various regulated agencies, and executive mandates helps expedite the review process to validate the following: 

• Is the current compliance policy drafted still relevant and updated with the latest changes to the various mandates?  
• What changes, if needed, should the organization adopt to better comply with the various changes? 
• How does the overcome the challenges when a key compliance employee leaves the organization?  
• Is the current content depository secure?  
• What is the risk of content manipulation by a foreign power, competitor, or disgruntled employee? 

Compliance automation, why now?  

Compliance regulations constantly change. These changes happen because of security breaches including ransomware, email phishing attacks, and impersonation attacks cost consumers and businesses millions each year in financial losses, brand, and loss of trust. Regulated agencies and governments either alter or create compliance and security mandates to help protect people from these recent attacks. 

Why should organizations invest now in AI for compliance? Without Tie-breaker-AI’s platform, organizations will unlikely become compliant while relying on manually reviewing their policies, cross-comparing them to their current policies, and processing input from all the various stakeholders. 

Organizations wanting to reduce the compliance management operations cost while improving the policy hygiene, the time is now to invest in compliance AI-automation. 

Tiebreaker AI – your partner in compliance automation 

Tiebreaker AI commitment to security, compliance automation, and reducing cost makes their solution critical for any CISO, Chief Risk Officer, and compliance team.

Ready to streamline your compliance process with AI? Schedule a demo to see how Tiebreaker AI can reduce costs and ensure compliance accuracy.

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