Prevention is better than the cure: Compliance
for high growth companies
Compliance is a key component of your business’ credibility and survival, but it doesn’t have to be complicated.
In today’s world, compliance matters for every company at every stage of growth. Ajay Gulati, Chief Technology Officer at Kami Vision, likens it to healthcare. Prevention is better than a cure because a cure can be expensive. He warns, “When companies are in startup mode, compliance is often overlooked.” It’s common for startups to push compliance to the wayside as they work to establish the foundation of their business. However, compliance is key to a business's survival in the first place.
Compliance establishes customer trust.
Meeting compliance standards is key to building and retaining customer trust. It is a powerful signal to your customers that you take data security, your product, and your business seriously.
Saurabh Saxena, Head of Technology and Engineering at Uniphore, says, “We have to adhere to the strictest compliance security to allow customers to trust us.” He warns, “One incident can kill a company. You must be vigilant to ensure you never run into an incident.”
Venkat Thiruvengadam, CEO & Founder of DuploCloud, has found that companies often think that any time spent on compliance and security is time away from their core product. These companies are not realizing the long-term investment in compliance will help them gain more customers in the end.
The road to compliance is often long and difficult.
Reaching and maintaining compliance, however, can be challenging. The compliance journey could be long and overwhelming without the proper tools and support.
Sanjaya Abeysinghe, Chief Technology Officer at OptiSolve, shares, “With any compliance journey, you will have bottlenecks, you will have anomalies, you will have significant challenges.” Reflecting on his own compliance journey at Optisolve, Sanjaya says, “If I could go back, I would change so many things.”
His advice for startups embarking on their compliance journey is to (1) ensure that the compliance team is composed of individuals with both technical and process skill sets, and (2) always remember: compliance is a journey, not a destination.
Now for some good news: automation techniques can speed up and simplify the compliance process for many startups. Ajay reflects, “Previously, what used to be a very manual process, is now a lot easier.” Kami Vision became compliance-ready for auditors much faster, thanks to process automation. Whether you’re tackling it manually or with the help of automation, the road to compliance is rarely smooth. That’s why industry-leading security and compliance organizations have partnered to form the Compliance Alliance.
Our mission is to make compliance accessible for all.
The Compliance Alliance is a digital hub designed to educate and support founders and technology leaders during their journey to compliance. It is a compilation of stories and advice from industry leaders suggesting the best ways to reach and maintain compliance. Each quarter, we will feature a series of insights and interviews. Subscribe to receive quarterly security and compliance insights straight to your inbox.