Not all organizations have the same level of resources and capital at their disposal. But that doesn’t mean you can’t still optimize your compliance strategy on a budget. Even with limited funds, there are several cost-effective ways to ensure your organization is compliant with industry regulations and standards.

Train Employees In Cybersecurity Best Practices

One way to optimize your compliance strategy on a budget is to train employees in cybersecurity best practices. Educating staff members on basic security protocols such as password protection and data encryption can go a long way toward ensuring your organization meets its regulatory requirements without spending too much money. Additionally, investing in regular training sessions helps keep employees up-to-date on the latest security trends and threats they should be aware of while working remotely or in the office.

This list provided by NIST is a good start to finding the right free or cheap training program for your employees.

Leverage Existing Resources

Look for ways to leverage existing resources to maximize efficiency. For example:

  • Utilizing in-house staff: Your organization may be able to use existing staff members with knowledge of compliance regulations to manage its compliance program, rather than hiring outside consultants. 
  • Online resources: There are many online resources, such as government websites and industry associations, that provide information and guidelines on compliance regulations.
  • Open-source tools: For network monitoring, if you have access to open source tools like Snort or Nmap, use them! These tools are free and often just as capable as their commercial counterparts.
  • Self-auditing: Regular self-auditing and monitoring can help your organization identify and address compliance issues before they become major problems, reducing the costs associated with non-compliance.
  • Leveraging existing partnerships and vendor relationships: Working with existing partners and vendors to ensure compliance with regulations and industry standards.

Outsource What You Can

Compliance can be complicated and time consuming, so outsourcing certain tasks may be a good idea if you’re looking to save money. For example, many organizations outsource their vulnerability management tasks or penetration testing requirements because it’s cheaper and more efficient than doing it in-house. Alternatively, using cloud security services such as CloudPassage or Symantec CloudSOC can help reduce costs while still providing effective security measures.

Prioritize Risk Management 

It’s also important to prioritize risk management when optimizing your compliance strategy. Risk management should be viewed as an investment rather than a cost; investing in risk management initiatives now can save you money down the line by minimizing costly mistakes or reducing fines due to non-compliance. Prioritizing risk management also ensures that your organization is always prepared for any changes in regulations or industry standards, reducing the amount of time it takes to come into compliance when necessary.

Utilize Free Security Resources

Finally, one of the most budget-friendly ways to optimize your compliance strategy is by utilizing free security resources offered by various organizations and vendors. These resources typically include whitepapers, webinars, templates, checklists, and more that provide valuable information about industry regulations and best practices for staying compliant. Utilizing these free materials not only saves you money but also equips you with the knowledge needed to properly address any potential risks or vulnerabilities within your organization’s systems and processes.

Optimizing your compliance strategy does not have to be expensive or time consuming if you know where to look for cost-effective solutions. By focusing on automation solutions, educating stakeholders in cybersecurity best practices, and taking advantage of free security resources available from various vendors, you can ensure your organization meets its regulatory requirements without breaking the bank! Security practitioners and Compliance professionals alike should consider taking these tips into account when looking for ways to optimize their compliance strategies while saving money at the same time!

Verity GRC is a low-cost solution for the compliance needs of smaller organizations like yours. Contact us today to set up a demo!