Data security tops the list of compliances faced by small to medium businesses, according to a survey on regulatory compliance released by IBM. The survey said these issues are of increasing concern and are driving new levels of IT investment in small-medium businesses.
The survey revealed that half of the small and medium-sized businesses (SMBs) executives said that compliance is more of a challenge today that it was a year ago, and more than 60 percent claim that their company is actively engaged in addressing compliance issues. Nearly 70 percent of executives at companies with more than 100 employees said data security was the top of their list of compliance concerns.
The survey also discovered that C-level executives at SMBs feel that their companies have achieved unexpected benefits, such as improved efficiency, documented business processes and IT security, as a result of compliance with new regulations.
Organizations today face a constantly evolving environment, whether a new set of regulations or a new external security threat. Even with limited IT staff and budgets, they must make their infrastructure more cost-effective, ensure business continuity and reduce risk while maintaining the confidentiality and integrity of information assets.
“Establishing a secure IT environment is a crucial first step for addressing any set of business compliance issues, as well as for protecting information assets and ensuring business continuity,” said Marc Lautenbach, general manager, IBM Global Small and Medium Business.
“But for smaller companies with limited budgets and IT staffs, new solutions and approaches are required that enable the retention and securing of critical business data in a way that is cost-effective to acquire and manage.”