Partnering with a Managed Security Services Provider (MSSP) is an elegant solution for many companies for two main reasons:

  1. MSSPs provide specialized experience at scale, enabling organizations to access expert security services without having to build in-house security teams.
  2. Companies of all sizes are increasingly recognizing that good security is good business. 

Cybersecurity and information technology risks continue to shift more rapidly than ever. Organizations of all sizes are coming under increasing regulatory scrutiny both in the United States and the European Union, with new requirements such as the U.S. SEC Data Breach rule and the EU's NIS2 Directive, as well as upcoming regulations like the Digital Operational Resilience Act (DORA) requirements in Europe and CMMC 2.0 in the U.S. defense sector.

In 2025, enterprise buyers are also raising the bar with stricter vendor due diligence and security questionnaire requirements. At the same time, a vast cybercrime underground continues to flourish, amplifying the ever-present threats of ransomware attacks, data breaches, and insider threats.

But even beyond these well-known risks, having a solid information security foundation is just good business. It inspires confidence with partners, vendors, customers, and employees. Even more than that, it enables organizations to scale effectively without the omnipresent threat of ransomware attacks, data breaches, and compliance violations. 

Good security is good business. 

What is a Managed Security Services Provider?

Managed Security Services Providers (MSSPs) provide outsourced cybersecurity and consulting services to businesses of all sizes, providing an elegant and simple solution for organizations to reduce the risk of both regulatory noncompliance and experiencing a threat actor attack. Common services provided include incident response, endpoint protection, threat intelligence, patch management, risk management, security questionnaire fulfillment, compliance management, and much more.

MSSPs centralize decades of security experience across different functions and organizations into a single entity, enabling small businesses to leverage security know-how and experience usually reserved for the world's largest and most sophisticated corporations.

Why Organizations Are Turning to MSSPs in 2025

Business drivers in 2025 include:

This is why MSSPs like Rhymetec, now serving over 1,000 clients worldwide, are seeing increased demand from SaaS companies, startups, and enterprises alike.

Indeed, MSSPs help organizations work through a variety of complex technical and regulatory challenges, including:

Compliance Frameworks and Regulatory Requirements 

Compliance requirements continue to proliferate adding additional regulatory impetus for organizations to improve their cybersecurity.

That's one of the reasons why Managed Security Services Providers with extensive experience helping organizations meet a range of frameworks (such as SOC 2, ISO 27001, PCI DSS, FedRAMP, GDPR, and others) are increasingly seen as the best route to go to meet requirements. In 2025, new frameworks like ISO 42001 (AI Management Systems) are also becoming relevant for companies building or deploying AI, and the EU AI Act is introducing additional oversight.

Many organizations see regulatory requirements as purely a cost. However, collaborating with the right MSSP company can help transform these requirements into a net benefit that can be applied across the organization. 

Compliance for businesses & MSSPs

There's a reason that 75% of companies who achieve some level of continuous compliance view their compliance program as a business driver. Meeting regulatory and voluntary standards boosts your ability to serve more clients, unblock sales, and expand into additional markets.

And in 2025, CMMC 2.0 compliance is becoming a key requirement for U.S. defense contractors, making MSSP expertise essential for entry into that market. 

Enterprise sales opportunities will want to see compliance with regulations relevant to their industry such as SOC 2, GDPR, HIPAA, and PCI before even considering an engagement. Working with an MSSP simplifies the process of achieving and maintaining compliance standards, ensuring you are able to break into new marketplaces as your company grows. 

Penetration Testing

It's no secret that the threat landscape continues to drive higher levels of risk.

Increases in geopolitical tension, growth in cybercrime, and the rapidly evolving risk of ransomware attacks all directly increase risk to organizations. Penetration testing can directly reduce much of this risk.

Currently, another issue is that AI-powered attack tools and supply chain exploits are also creating new levels of exposure for SaaS companies. Through partnerships with leading platforms like XBOW, at Rhymetec, we now combine automation with human-led oversight to scale testing more effectively.

Similar to the importance of continuous compliance discussed above, when exploring how to select the right pen testing vendor, companies should consider the importance of continuous communication and a collaborative approach with the pen tester. 

A good pen testing firm will work with you to scope the pen test to your organization's specific requirements and risks. For example, organizations that offer their data via API may benefit from API penetration testing while organizations with web applications may need pen testing specifically scoped to address common vulnerabilities in web applications.

A rigorous penetration test can identify flaws in your application or corporate security that an attacker could exploit. In addition, they can strengthen your compliance posture and reassure potential auditors that your organization takes security seriously. 

An MSSP that offers pen testing as a service will collaborate with you to understand your business requirements and scope the pen test to vulnerabilities that threat actors are most likely to exploit based on your unique risk posture. For example, Rhymetec offers a variety of pen testing engagements, including web application, API, network, and mobile application pen testing. 

Virtual CISO Services

Security isn't a one-time initiative. It's an evolving process that requires buy-in from individuals across the organization.

Virtual CISO (vCISO) services serve as the linchpin of a security program. A vCISO acts as your organization's security expert - enabling you to leverage executive security expertise without the need to employ a full-time CISO. 

A vCISO can advise you on: 

A good vCISO has an in-depth understanding of compliance requirements, coupled with the technical resources needed to implement security controls in the context of the threat landscape. Managed Security Services offering a vCISO service provide companies of all sizes access to this valuable combination of skills.

In addition, a vCISO enables you to maintain a posture of continuous compliance. 

Working With A Managed Security Services Provider Encourages Continuous Compliance

At Rhymetec, we believe compliance shouldn't be a sprint right before an audit.

Organizations that make compliance core to their business can maintain a posture of constant compliance, reducing the stress and overhead associated with compliance while also ensuring that audit requirements are met.

A common misconception is that smaller businesses are exempt in some way from needing to meet requirements. However, requirements are generally stipulated across the board for most companies regardless of size. 

Going beyond compliance frameworks, which represent a reasonable baseline but fall far from the finish line compared to an actual security program, vCISOs are able to implement additional security controls based on the unique risks an organization faces. Before building out or improving upon an existing security program, a vCISO will consider customer requirements and pinpoint specific laws and threats that apply to an organization and its vendors. 

Benefits Of A Managed Security Services Provider, through a vCISO Program

Opting for a vCISO service enables small and mid-size businesses to be certain they meet compliance standards while also leveraging their security dollars to reduce the risk of data breaches and ransomware attacks.

Let's expand on the main reasons why managed security services are an agile solution for smaller organizations: 

Why Work With A Managed Security Services Provider? Specialized Experience At Scale. 

The reason organizations choose to work with MSSPs is simple - specialized experience at scale. An average MSSP will often have experts on their team across many disciplines to include: 

Large enterprises spend millions of dollars on a security team with many highly specialized individuals across a range of disciplines. Small businesses need the same level of experience but not necessarily the same amount of work. Managed Security Services fill this gap perfectly. 

Why Managed Security Services? It's Good Business.

Organizations are increasingly scrutinizing their vendors for security practices.

Suffering a major breach leaves a company scrambling to notify consumers, reassure investors, and manage employee fears. Proactively tackling cybersecurity, compliance, and data privacy  by getting your SOC 2 Report (or other compliance audits), engaging in routine penetration testing, and utilizing vCISO services can serve as an amplifier across the rest of your business activities. 

Having an MSSP as a continuous resource also simply provides peace of mind. When compliance frameworks are inevitably updated, when an auditor requests an evaluation of third-party risk, when you need things like phishing testing services to fulfill controls, or when you receive a security questionnaire from a customer - you'll know where to go for immediate and expert assistance. 

Proactively providing SOC 2 Type 2 Reports to potential customers immediately makes your business stand out while also preventing the need for time-consuming security questionnaires. A vCISO service can help your organization identify and prepare for upcoming compliance regulations, saving costs and time in the long run.

Finally, working with an MSSP lets you leverage talent from across a variety of disciplines without the need to build large in-house teams. 

Exploring Managed Security Services?

Rhymetec was founded in 2015 as a Penetration Testing company. Since then, we have served thousands of businesses globally in all their cybersecurity, compliance, and data privacy needs. We're industry leaders in cloud security, and our custom services align with the specific needs of your business. We help organizations achieve certifications like SOC 2, ISO 27001, HIPAA, and CMMC while preparing them for the evolving regulatory landscape in both the U.S. and Europe.

To learn more about our offerings and how a Managed Security Services Provider can be an accelerator for your business, contact our team for more information. 

FAQs

Why choose managed security services instead of in-house security in 2025?

The demands of compliance and cybersecurity have outpaced what most in-house teams can manage. Managed security services provide access to expert resources, 24/7 monitoring, and full compliance management at a lower cost than building your own team. In 2025, when vendor due diligence and regulatory expectations are stricter than ever, MSSPs give businesses a faster and more reliable way to stay secure and audit-ready.

What is the cost difference between managed security services and hiring in-house?

Hiring a complete in-house security team can cost millions annually, with salaries for CISOs, penetration testers, and compliance specialists ranging from $80K to $275K each. Managed security services let you access the same breadth of expertise on a fractional basis. This approach delivers enterprise-grade protection and compliance readiness without the overhead of staffing a full team.

How do managed security services help with compliance like SOC 2 or CMMC 2.0?

MSSPs guide companies through the full compliance journey. We design policies, implement controls, maintain readiness, and support you through audits. Our team helps organizations meet frameworks such as SOC 2, ISO 27001, HIPAA, GDPR, FedRAMP, and CMMC 2.0. By outsourcing compliance management, businesses expand into new markets and shorten audit timelines, often achieving compliance in one-third of the expected time.

Can managed security services prepare businesses for AI regulations and new laws?

Yes. In 2025, MSSPs are helping organizations align with emerging frameworks like ISO 42001 (AI Management Systems - see our ISO 42001 Checklist for more info), EU AI Act compliance, and stricter privacy and disclosure requirements. By keeping you ahead of regulatory shifts, MSSPs make sure your business avoids gaps, reduces legal exposure, and can adopt AI securely while meeting compliance expectations.

How do managed security services reduce risk for growing businesses?

MSSPs combine continuous monitoring, penetration testing, vCISO leadership, and risk management to reduce the likelihood of breaches or compliance failures. This proactive approach protects your data and strengthens customer trust. For growing businesses, demonstrating strong security and continuous compliance can also shorten sales cycles by removing barriers during vendor assessments.

 

 

About the Author: Justin Rende, CEO 

Justin Rende has been providing comprehensive and customizable technology solutions around the globe since 2001. In 2015 he founded Rhymetec with the mission to reduce the complexities of cloud security and make cutting-edge cybersecurity services available to SaaS-based startups. Under Justin's leadership, Rhymetec has redesigned infosec and data privacy compliance programs for the modern SaaS-based company and established itself as a leader in cloud security services.

Companies across every industry depend more and more on technology to run their businesses, store sensitive data, and carry out essential operations. With the rise in cybersecurity threats and tough technology regulations, organizations must have a robust security plan to meet IT compliance standards. However, since no two companies are the same, and every business has unique needs, a one-size-fits-all compliance plan is not enough to establish a compliant and effective information security program.

The Current Threat Landscape

Organizations using digital technology and cloud software face a complex threat landscape that grows increasingly sophisticated. Ransomware attacks, phishing attacks that attempt to trick people into sharing sensitive data, advanced persistent threats (APTs), and well-funded, determined attackers all target companies to steal intellectual property or disrupt operations. 

Then there's the explosion in connected IoT devices, standing at 15.14 billion as of 2023, and the high risk of DDoS attacks. With individual cyber breaches costing upwards of US$4.35 million, failure of a one-size-fits-all solution can be dangerous and expensive. 

Generic Compliance Plan Pitfalls

IT departments these days use many different architectures with various hardware, software, and network configurations. Because of these differences, it's difficult to create a single cybersecurity formula that works for all companies. Some of the pitfalls of trying to cut corners and save costs by implementing a generic plan include:

To keep your data safe, protect against cyberattacks, build trust with customers, and combat the potential risks and consequences of non-compliance, you need a plan tailored for your organization.

The Cost of Corner-Cutting

Few young companies are equipped to handle and overcome the financial and business losses following an attack. The direct costs can be considerable, including legal proceedings, recovering lost data, and repairing damage to the company's reputation. Fines, penalties, and legal settlements can reach millions of dollars. Restoring compromised systems, conducting investigations, and enhancing security measures add to the expenses. 

A cybersecurity incident can also seriously disrupt your company operations, resulting in downtime and lost productivity. Systems can become inaccessible, affecting critical tasks and leading to delays or disruptions in operations. Additionally, a breach damages the trust and loyalty of customers, which can cause the company to lose revenue and harm its reputation in the long run. 

Advantages of a Human-Centric Approach

In many cybersecurity incidents, human error plays a significant role. According to Verizon's 2022 Data Breaches Investigations Report, 82% of data breaches involved a human element. From being victims of phishing scams to using weak passwords, employees accidentally create vulnerabilities that cyber attackers take advantage of. By adopting a human-centric approach, organizations (especially startups) can establish a strong defense and create a culture where everyone in the company values security. To achieve this, your company must:

1. Invest in education

A human-centric approach propels your organization to provide thorough training that creates a culture of cybersecurity awareness. Education empowers your employees to recognize and handle suspicious emails, avoid clicking on harmful links, and use safe practices when dealing with sensitive information. 

2. Keep employees informed

When employees are kept informed about the latest threats and know how to protect company assets, they feel responsible for protecting the company's digital assets. By tailoring your training to address the specific risks employees face and keeping them up to date, your workers become the first line of defense against potential attacks. 

3. Empower proactive defense

Companies that recognize a human focus is crucial for quality cybersecurity goals equips employees with the knowledge and skills to prevent cyber incidents proactively. This helps them to successfully reduce the number of threats unique to their industry or work environment.

Tailor Compliance Plans to Meet Organizational Needs

Customizing security and compliance to match your company's unique environment brings several benefits. It allows you to address the specific vulnerabilities and risks that apply to your operations. It lets you focus your resources on the most critical areas and ensures your security efforts are efficient and effective. 

Customization also ensures that your security measures align with your company's goals, values, and compliance requirements, putting you in a stronger position to resist cyber threats. By considering factors like the types of data you handle, your IT infrastructure, and the skills of your workforce, you can develop a security approach that is targeted and relevant to your specific situation. 

A human-centric compliance and cybersecurity program integrating technology and employee involvement gives you a holistic and robust defense against cyber threats.

You can read the original article posted in Forbes by Rhymetec CEO, Justin Rende.

 

Need custom cybersecurity and compliance solutions?

Hire a vCISO with years of experience in cloud security at a fraction of the cost of hiring a full-time CISO in-house. Rhymetec’s custom vCISO services adapt to your organization’s cybersecurity and compliance needs and scale as you grow over time. Providing executive-level security leadership, a dedicated Rhymetec vCISO can assess your organization’s cyber risk, develop an internal InfoSec Program, and assist in the compliance and security needs that align with your business.

Interested in reading more? Check out our blog: 

If your company is exploring SOC 2 compliance, one of the first questions you may be wondering is—how long does it take to get SOC 2 compliance? The SOC 2 readiness and audit process can take anywhere from 3-12 months to complete. But with the support of a vCISO, service organizations can typically achieve SOC 2 compliance in half the time it would take them to navigate the process alone.

 

SOC 2 Readiness and Audit Timelines: How Long Does it Take to Get SOC 2 Compliance?

The SOC 2 compliance process generally takes between 3 to 12 months. This estimate includes the time it takes to prepare for an audit, undergo an audit, and receive a SOC 2 audit report. The timeline varies based on your team’s knowledge and expertise, available resources, the nature of your services, the size of your company, the auditor you choose to work with, and more.

 

SOC 2 Compliance Timeline: What to Expect & How Long A SOC 2 Audit Takes

Here’s what a SOC 2 compliance timeline looks like for clients that work with a Rhymetec vCISO versus those that choose to navigate the process alone. Remember: every organization is different, and yours will look a little different.

Phase 1: Prepare and Plan

During this phase, you’ll choose which type of SOC report you need (SOC 2 Type 1 vs Type 2), identify your compliance requirements, determine the trust services criteria to include in your SOC 2 report, assemble a team, allocate resources, and find an independent auditor.

Duration:

Phase 2: Identify and Scope

This phase involves assessing your organization’s current readiness, benchmarking against all relevant SOC 2 Trust Services Criteria, SOC 2 training and employee education.

Duration: 

Phase 3: Assess and Implement

Now it’s time to conduct a risk assessment, implement controls, identify and address any outstanding issues, draft policies and procedures, implement monitoring, collect evidence, and ensure that your organization is ready to undergo a SOC 2 audit. 

Duration: 

Phase 4: Prepare for Audit

Finally, you’ll need to complete a SOC 2 readiness assessment and address any final concerns before commencing a SOC 2 audit and receiving a SOC 2 report.

Duration:

Phase 5: Official audit (2-6 weeks)

Your selected auditor will begin the official process of reviewing your company’s collected evidence and point-in-time snapshot.

How long does a SOC 2 audit take? From the kick-off of the audit to the SOC 2 report delivery, this process can take anywhere between 2-6 weeks. Factors that can impact your SOC 2 Audit timeline include:

Once the evaluation is complete, your auditor will create and deliver your SOC 2 report. After the report is finalized, you can share it with vendors, partners, customers, and prospects.

 

How Rhymetec simplifies SOC 2 audits

The traditional SOC 2 process can take hundreds of hours to complete. Working with a Rhymetec vCISO removes the complexity and burden from SOC 2 compliance. Our team of cybersecurity experts has helped hundreds of SaaS and service-based organizations navigate the SOC 2 compliance process; we know what to look for, and we can guide you at every step of the way. How long it takes to get SOC 2 compliance varies, but our team has helped hundreds of companies cut down the amount of time needed substantially. 

Not only do we consult you on how to achieve your SOC 2 goals, but provide the managed compliance services you need to get there. We like to say that we act on our own advice, so you can focus on other critical aspects of your business.

 

What a Rhymetec vCISO Can Do

Rhymetec’s team of cybersecurity experts acts as a member of your team and acts in the best interest of your company’s needs. With years of experience working among some of the most complex compliance regulations, we can provide you with strategic direction and hands-on support to simplify your SOC 2 readiness.

Tasks a vCISO can support in your compliance journey:

Not only will a vCISO help you get ready for your audit and work with your auditor, but a Rhymetec vCISO can also support your post-audit maintenance goals to ensure ongoing compliance with SOC 2, and address stakeholder inquiries about security and compliance.

We give you the right level of vCISO support.

Whether your team needs high-level guidance from an experienced vCISO or hands-on support from our team of cybersecurity experts, Rhymetec can provide the level of support your organization needs to quickly achieve SOC 2 compliance.

To Learn More About Rhymetec's Services

Contact Our Team

Measuring the competitive advantage of compliance

Metin Kortak, CISO from Rhymetec, to discuss how to make compliance a competitive advantage. Ben shares news of a Biden Executive Order on commercial spyware after it may have been abused to spy on "autocracies — and some democracies." Dave took a look at export controls and whether they really make a difference when it comes to invasive software.

While this show covers legal topics, and Ben is a lawyer, the views expressed do not constitute legal advice. For official legal advice on any of the topics we cover, please contact your attorney. 

Links:

View more of our Blogs here

[embed]https://www.youtube.com/watch?v=oTtsVtATFGE[/embed]

A vital component of any risk and compliance program is implementing maintenance strategies. If you’ve already completed your compliance journey, a compliance maintenance program is the next step in ensuring your organization avoids gaps in both your compliance and infosec program.

Regularly reviewing and maintaining policies and procedures enables firms to keep up to date with the latest regulations, changes in technology, and best practices across the industry. addressing these standards empowers your employees to be more diligent about security within daily business operations, and lead with a security-first mindset when it comes to the construction of your cloud software.

 

What does compliance maintenance look like?

According to a recent study about compliance trends (Drata), it was found that IT and security professionals spend an average of 4,300 hours annually achieving or maintaining compliance. The survey of 300 US professionals found that 87% had faced consequences as a result of not having a continuous compliance maintenance program within their organization.

  1. Develop comprehensive security policies: Create security policies that outline the procedures and guidelines required to maintain compliance. These policies should be clear, concise, and accessible to all employees.
  2. Regularly update software and security systems: Regularly update your software and security systems to protect against vulnerabilities. This includes keeping your operating systems, applications, and antivirus software up to date.
  3. Conduct regular risk assessments: Conduct regular risk assessments to identify any potential vulnerabilities or threats to your organization. This will help you stay ahead of potential security issues and mitigate them before they become a problem.
  4. Train employees on security awareness: Educate and train employees on security awareness to ensure they understand their role in maintaining security and compliance. This includes training on how to identify and report security incidents, how to create secure passwords, a phishing test as needed for employees, and guidance on how to avoid phishing attacks.
  5. Monitor and log all activity: Monitor and log all activity on your network to identify potential security threats and incidents. This includes monitoring access to sensitive data, user activity, and network traffic.
  6. Perform regular security audits: Perform regular security audits to ensure compliance with industry standards and regulations. This will help you identify any areas where you may be falling short and address them before they become a problem.
  7. Have an incident response plan in place: Have an incident response policy & plan in place for security incidents, including a clear escalation path. This will help you respond quickly and effectively to any potential security incidents.

By following these tips, you can maintain security compliance and protect your organization from potential security threats and breaches.

What are the benefits of maintaining compliance?

55% of organizations say their compliance strategy is based around a “Can we?” rather than “Should we?” attitude, indicating a focus on building a more proactive and positive compliance strategy. However, stagnant budgets and a shifting workforce have left many compliance teams feeling stretched, with 87% of organizations reporting they have no additional capacity due to being understaffed or only adequately staffed (Deloitte State of Compliance 2020 Report). That being said, compliance offers an abundance of benefits to organizations including:

How can an organization simplify and scale the compliance maintenance process?

Whether you already have a CISO/security expert in your organization or are a young startup with limited resources to achieve compliance. The bottom line is that compliance is critical and there are a number of intricacies to achieving and maintaining these standards. The good news, you have options to fit the needs of your organization! For instance, 34% of organizations outsource some or all of their compliance functionality. (Thomson Reuter's Cost of Compliance Report 2021)

Cutting-edge compliance automation tools can help security teams build a foundation for their information security programs, and have a reliable source of truth with their efforts. These tools not only help you continuously monitor your information security programs, but they provide a resource for evidence collection and reporting when it comes to the stress of working with an auditor to evaluate your policies and procedures to determine whether they are in alignment with framework standards.

For organizations that need additional support in their compliance journey or have little to no experience with the process—you can work with cybersecurity consultants or managed service providers like a vCISO (Virtual CISO). Here at Rhymetec, we pride ourselves on being disruptors in the consulting space by acting on our own advice. Not only will we provide you with direction on how to achieve and maintain your security and compliance goals, but we provide the services to help you get there too.

View more of our blogs here.

 

To Learn More About Rhymetec's Compliance
Readiness or Maintenance Programs:

Contact our Team Today

A vital component of any risk and compliance program is implementing maintenance strategies. If you’ve already completed your compliance journey, a compliance maintenance program is the next step in ensuring your organization avoids gaps in both your compliance and infosec program.

Regularly reviewing and maintaining policies and procedures enables firms to keep up to date with the latest regulations, changes in technology, and best practices across the industry. addressing these standards empowers your employees to be more diligent about security within daily business operations, and lead with a security-first mindset when it comes to the construction of your cloud software.

What does compliance maintenance look like?

According to a recent study about compliance trends (Drata), it was found that IT and security professionals spend an average of 4,300 hours annually achieving or maintaining compliance. The survey of 300 US professionals found that 87% had faced consequences as a result of not having a continuous compliance maintenance program within their organization.

  1. Develop comprehensive security policies: Create security policies that outline the procedures and guidelines required to maintain compliance. These policies should be clear, concise, and accessible to all employees.
  2. Regularly update software and security systems: Regularly update your software and security systems to protect against vulnerabilities. This includes keeping your operating systems, applications, and antivirus software up to date.
  3. Conduct regular risk assessments: Conduct regular risk assessments to identify any potential vulnerabilities or threats to your organization. This will help you stay ahead of potential security issues and mitigate them before they become a problem.
  4. Train employees on security awareness: Educate and train employees on security awareness to ensure they understand their role in maintaining security and compliance. This includes training on how to identify and report security incidents, how to create secure passwords, a phishing test as needed for employees, and guidance on how to avoid phishing attacks.
  5. Monitor and log all activity: Monitor and log all activity on your network to identify potential security threats and incidents. This includes monitoring access to sensitive data, user activity, and network traffic.
  6. Perform regular security audits: Perform regular security audits to ensure compliance with industry standards and regulations. This will help you identify any areas where you may be falling short and address them before they become a problem.
  7. Have an incident response plan in place: Have an incident response policy & plan in place for security incidents, including a clear escalation path. This will help you respond quickly and effectively to any potential security incidents.

By following these tips, you can maintain security compliance and protect your organization from potential security threats and breaches.

What are the benefits of maintaining compliance?

55% of organizations say their compliance strategy is based around a “Can we?” rather than “Should we?” attitude, indicating a focus on building a more proactive and positive compliance strategy. However, stagnant budgets and a shifting workforce have left many compliance teams feeling stretched, with 87% of organizations reporting they have no additional capacity due to being understaffed or only adequately staffed (Deloitte State of Compliance 2020 Report). That being said, compliance offers an abundance of benefits to organizations including:

How can an organization simplify and scale the compliance maintenance process?

Whether you already have a CISO/security expert in your organization or are a young startup with limited resources to achieve compliance. The bottom line is that compliance is critical and there are a number of intricacies to achieving and maintaining these standards. The good news, you have options to fit the needs of your organization! For instance, 34% of organizations outsource some or all of their compliance functionality. (Thomson Reuter's Cost of Compliance Report 2021)

Cutting-edge compliance automation tools can help security teams build a foundation for their information security programs, and have a reliable source of truth with their efforts. These tools not only help you continuously monitor your information security programs, but they provide a resource for evidence collection and reporting when it comes to the stress of working with an auditor to evaluate your policies and procedures to determine whether they are in alignment with framework standards.

For organizations that need additional support in their compliance journey or have little to no experience with the process—you can work with cybersecurity consultants or managed service providers like a vCISO (Virtual CISO). Here at Rhymetec, we pride ourselves on being disruptors in the consulting space by acting on our own advice. Not only will we provide you with direction on how to achieve and maintain your security and compliance goals, but we provide the services to help you get there too.

View more of our blogs here.

To Learn More About Rhymetec's Compliance
Readiness or Maintenance Programs:

Contact our Team Today

With the number and severity of cyberattacks growing daily, software-as-a-service (SaaS) organizations are under pressure to ensure their defense protocols can withstand threats. The SaaS marketplace, projected to expand by almost 26% CAGR by 2028, is a focus area for cyber defense concerns. For new SaaS startups entering the market, getting regulatory compliance in the industry they intend to serve is vital to show competence.

The Pressure To Prove Compliance

A 2021 report from DoControl indicates that 40% of SaaS assets are at risk for data leaks because of poor management. Even the big players are vulnerable, with popular SaaS applications like Microsoft Office 365, Salesforce, Slack, and Zoom being primary entry points for breaches and ransomware.

Many startup founders think compliance is only necessary for healthcare, finance, or other highly-regulated industries. In truth, in addition to legal requirements, compliance is a successful way to grow a company’s market share. A SaaS startup intending to serve enterprise companies will be required to prove its compliance with potential customers. Few organizations with established cyber defense strategies will accept non-compliant vendors.

New SaaS businesses can use existing compliance frameworks to establish security processes that deliver a safe, dependable customer environment. The ability to prove compliance generates new marketing opportunities, enables companies to increase sales, protects customer data, and establishes trust that drives renewals.

A Challenging Process

Developing a remarkable software product is just the first step in establishing a successful SaaS company. The challenge arises when the company starts preparing to market the product. With compliance now a “catchphrase” in technology, a startup must implement the relevant regulatory processes before expecting prospective customers to beat a path to its door. Even if compliance is not a legal requirement for going to market, companies that don’t comply will not possess credibility.

Achieving compliance with any primary frameworks requires startups to implement multiple complex processes. Companies must employ (and pay for) the system audits required and complete dozens of application forms. This can be a formidable operation for a startup founder, and hiring a full-time compliance staffer at this early stage is often unfeasible.

Primary Compliance Frameworks

Most governmental and commercial organizations have established privacy policies and controls that outline the ideal cyber defense requirements for SaaS operations. Attaining compliance with these regulations shows that a company or product applies the controls necessary to reach these standards.

This achievement also indicates that a company’s software solution and underlying technology stack support the appropriate privacy, access, and confidentiality levels. The main compliance frameworks applicable to SaaS companies are:

1. SOC 2

The Service Organization Control (SOC 2) Standard is a well-established regulatory compliance framework for companies that collect and manage customer data in the cloud. It applies to information security, availability, processing integrity, privacy, and confidentiality. SaaS startups typically fall under this category.

2. ISO 27001

ISO 27001 is an internationally recognized accreditation for Information Security Management Systems. It’s the only auditable certification relating to overall information security, instead of just the technical controls.

3. HIPAA

The Health Insurance Portability and Accountability Act (HIPAA) prohibits the unauthorized disclosure of patient health information by any organizations involved in healthcare.

4. FedRAMP

The Federal Risk and Authorization Management Program (FedRAMP) is a compliance program developed by the U.S. government. It provides a standard for authorization, security assessment, and continuous monitoring of companies offering cloud products and services.

5. GDPR

The General Data Protection Regulation (GDPR) Standard applies to firms distributing products across the European Union (E.U.), regardless of location. These standards mainly apply to privacy and data protection for E.U. citizens.

6. PCI

The Payment Card Industry - Data Security Standard (PCI-DSS), often called PCI, is a collection of security protocols developed for companies and programs that process and store credit card payment information.

Industry-Specific Regulations

In addition to these common compliance frameworks, agencies expect SaaS companies to comply with other industry-specific regulations before operating in their markets. For example, sustaining HIPAA and FedRAMP require organizations to work only with other compliant vendors. FedRAMP is a U.S. government standard, meaning any company that aims to attract government clients needs FedRAMP-compliance to do so.

The healthcare environment is even more rigid. While HIPAA compliance doesn’t come with actual certification, any SaaS startup working with a non-compliant healthcare supplier can face liability if the noncompliance is reported to the government. As a company’s supplier network expands, the number of companies that must also comply increases, or they will not be authorized to operate in their preferred markets.

Conquering The Compliance Beast

Obtaining compliance is critical for every SaaS company, and failing to do so can result in significant financial and reputational damage. The entire process might seem intimidating for a SaaS startup founder, but these tips can help make compliance a reality.

To conquer the compliance beast, companies should start the process while their product is still in beta. Most SaaS products require SOC 2 compliance at least, which means bringing in accredited auditors or CPAs to carry out an official system audit.

Compliance automation offers a helping hand, too. In the past, setting up the security, availability, processing, integrity, and confidentiality policies and procedures required to achieve compliance was a laborious, manual process. Now, many of these tasks can be automated using readily available software solutions that save time and money.

Reaching regulatory compliance depends on multiple factors. A SaaS startup can typically get SOC 2 certification in around three months, while PCI compliance takes six to 12 months. HIPAA, although it offers no formal certification option, can take three to six months to fulfill all the requirements. FedRAMP can take up to a year.

Pros And Cons Of Compliance

For SaaS startups aiming to operate in a specific environment or marketplace, it’s critical to comply with the latest regulatory requirements. Failing to adopt universal data regulations and specific policies affecting an industry can result in lawsuits, heavy fines, revenue losses, and even get a product banned from the market. The penalties can be stiff, depending on the degree of noncompliance. For example, HIPAA has four penalty levels, depending on the degree of negligence and its impact. Consequences for HIPAA noncompliance range from $100 to $50,000 per individual violation and can even include jail time for persons responsible for a violation.

Achieving compliance in all relevant areas is vital to any business strategy. Mitigate the risk of being non-compliant by addressing regulatory requirements head-on. An independent consultant specializing in cyber defense solutions can take the regulatory burden off a SaaS founder’s shoulders, enabling them to focus on building the business while they handle the compliance process. Additionally, it delivers multiple benefits for the company, including competitive advantage, industry credibility, and faster growth.

About the Author

Metin Kortak is the Chief Information Security Officer at Rhymetec.

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About Rhymetec

Justin Rende founded Rhymetec in 2015 as a Penetration Testing company. Since then, we have served hundreds of SaaS businesses globally in all their cybersecurity, compliance, and data privacy needs. We’re industry leaders in cloud security, and our custom services align with the specific needs of your business. We enable businesses to meet requirements for frameworks including HITRUST, NIST (including controls under the latest NIST Governance update), HIPAA, GDPR, SOC 2, PCI DSS, and more. Contact our team to learn how we can help your business through our managed compliance services.

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There are numerous ways cybersecurity is important for business growth nowadays.

With today's evolving threats, heightened expectations from stakeholders, advancing technology and changing regulatory environment—protecting your data and meeting compliance standards feels like a race that's outpacing business' daily operations.

It doesn't have to feel that exhausting.

Simply investing in cybersecurity, and taking the steps over time to improve your information security programs, can help you propel your business forward. Here's how our 250+ (and growing) clients are framing their cybersecurity investments with Rhymetec as an asset to their overall growth and strategy:

 

1. The #1 Reason Why Cybersecurity Is Important For Business: Increase Trust and Referrals

Compliance frameworks such as SOC 2 and ISO 27001 require organizations to conduct comprehensive security assessments on other vendors prior to purchasing them or using their services. Many of these security assessments require other vendors to also have ISO 27001 certificates, SOC 2 Type 2 reports to be fully SOC 2 compliant, and other security documents. If you want to sell to mid-size and enterprise organizations, it is particularly important to be able to show you have a complete SOC 2 report.

Having even just one of these certifications or reports can help you work with more customers. For customers and business partners, knowing you are serious about providing high-quality products and services will increase their level of trust and willingness to work with you. This will also organically lead to greater opportunities for referrals.

 

2. Use Cybersecurity As A Competitive Differentiator

A strong cybersecurity program helps attract and win more customers over competitors who are not prioritizing cybersecurity, compliance, and data privacy. Being able to show that you already have a solid security posture helps you stand out from other companies.

Not only does this impact your relationship with customers, but it can attract high-quality candidates and partners. When people see you are going the extra mile to protect their information, they will be more likely to work with you. Most customers will select vendors that have more security and compliance reports.

 

3. Improve Company Image

Data loss and breaches can damage your business’ reputation and destroy trust.

Show stakeholders—customers, business partners, employees, investors and more—you are committed to implementing proper security measures by utilizing security services. Working with a Managed Security Services Provider like Rhymetec shows you have your security policies and plans in place. In the event of a data breach or security incident, Rhymetec offers companies a dedicated CISO team that responds quickly and efficiently.

 

4. Minimize Financial Risks

Your company's financial risk includes your cybersecurity risk profile. Cyberattacks such as phishing and malware are commonly used by threat actors with financial motives. The first step to mitigating this risk is to understand your risk profile.

A big part of improving your cybersecurity posture is conducting a risk assessment and a plan in alignment with it. In the event of a cyberattack such as a ransomware attack, you will already have a plan of action in place. Instead of scrambling to figure out what to do and who to contact, you will save money and time by already knowing exactly what to do.

 

5. Gain Increased Visibility

If you want to break into new marketplaces or sell internationally, having a strong cybersecurity program is a requirement in many cases.

For example, if you want to sell to government agencies, you likely need to be FedRAMP compliant. Obtaining FedRAMP compliance puts your company in the online marketplace that government agencies use to find businesses to work with.

If you want to sell to enterprise, many larger organizations will only consider working with you if you can prove the strength of your security program. The most widely accepted form of proof for this is a SOC 2 report.

 

6. The Last Reason Why Cybersecurity Is Important For Business: Save Time and Resources

As previously discussed, having an incident response plan in place saves time and resources in the event you were to experience a cyberattack. If you already know what to do in the event of a data breach, you will spend less time and fewer resources figuring out how to respond to the incident while also mitigating potential reputational damage to your organization.

Furthermore, a sharp focus on security can also save time in your sales and customer acquisition process.

If you already have your SOC Report, for example, you will not have to spend time filling out a long custom security questionnaire for every new prospect. You can simply show them your SOC 2 Report as evidence that you have a strong cybersecurity program.

 

Why Cybersecurity Is Important For Business For Rhymetec's Customers

Our experts have been disrupting the cybersecurity, compliance and data privacy space since 2015. We make security simple and accessible so you can put more time and energy into other critical areas of your business—Some of our customers have gone on to be acquired by Meta and Zoom. Our customers recognize why cybersecurity is important for business growth, and trust Rhymetec to help them reap the benefits of having a stronger security program.

What makes us unique is that we act as an extension to your team. We consult on developing stronger information security programs within your environment, and provide the services to meet these standards. Most organizations offer one or the other. From compliance readiness (SOC 2, ISO/IEC 27001, HIPAA, GDPR and more) to Penetration Testing Services (Web Application Pentest, API Pentest, External Network Pentest and Mobile Application Pentest) and ISO Internal Audits, we offer a wide range of consulting and security services that can be tailored to your business environment.

If you’re ready to learn about how Rhymetec can help you, contact us today to meet with our team.

 

About The Author: Metin Kortak, CTO

Metin Kortak is the Chief Technology Officer at Rhymetec. He began his career working in IT security and gained extensive knowledge of compliance and data privacy frameworks such as SOC 2, ISO 27001, PCI, FedRAMP, NIST 800-53, GDPR, CCPA, HITRUST and HIPAA. Metin joined Rhymetec to build data privacy and compliance as a service offering, and under his leadership, these offerings have grown to more than 200 customers, positioning the company as a leading SaaS security service provider in the industry.