Compliance as a Service for MSPs: A New Path for Business Growth

What if you could turn the headache of compliance management into an offering every regulated business needs?

Do you feel the crunch of compliance requirements? Are your clients looking to you for support amid increasing regulatory complexity?

Then, you’re part of a trend that’s reshaping the role of Managed Service Providers (MSPs). The critical importance of compliance is driving demand for a new type of service that you can leverage as a catalyst for business growth, Compliance as a Service (CaaS), or sometimes known as Governance as a Service (GaaS). Compliance as a Service goes beyond conventional IT services, offering a comprehensive strategy that combines human expertise, streamlined processes, and technology tools to ensure organizations meet specific compliance regulations.

CaaS removes the headaches associated with compliance management — the scattered files, the outdated documents, the resource-intensive upkeep, the cumbersome permissions. Instead, it offers a comprehensive, automated approach that enables you and your clients to meet your obligations with ease.

Simplifying compliance with CaaS

As an MSP, you and your clients share a defining challenge — compliance risk. To mitigate that risk, you are likely devoting a significant number of resources to managing policies, documenting procedures, and keeping abreast of ongoing regulatory changes. A single oversight can have far-reaching consequences, not only in terms of hefty fines and legal repercussions, but also in tarnishing your brand image and attracting unwanted attention from both regulators and cybercriminals.

By strategically adopting CaaS, you can change this risky dynamic, expand your service offering, and become the partner companies need as they search for  answers beyond technical solutions. Aside from improving your own operational efficiency, a comprehensive compliance or governance program gives you a credibility boost that you can leverage in sales conversations to ultimately drive more business. Compliance made easy is a message that resonates with weary business owners.

Tightening regulations and the stakes of failure

What are the driving forces behind the emergence of CaaS? Two factors, in particular, stand out:

  1. Compliance Complexity: CMMC, NIST, FTC, SOC2, HIPAA, GLBA, — no company can ignore the acronyms that rule even the most minute transactions in their industry. Whether statutory or imposed by insurance companies or other entities, compliance is the only option. But the ever-growing number of regulations and standards is becoming too complex for many organizations to handle in-house; they are looking for outsourcing options.
  2. Compliance Risk: From fines and penalties to reputation damage, security breaches, and lawsuits, companies are paying a high price for noncompliance. This applies to you, as an MSP, as well. In fact, the stakes may be even higher for MSPs as you could be held liable for compliance failures that your clients may blame on your actions (or inaction). In other words, you need a solution that makes your compliance practice airtight without wasting time and resources on manual upkeep.

From heavy burden to strategic advantage

How can you sell Compliance as a Service to clients and prospects who may be unfamiliar with the concept? Many companies are, after all, used to thinking about compliance as a burden more than an opportunity for operational improvements and enhanced security.

By introducing this “shiftLeft” — meaning proactive — approach, you can enable a productive conversation about the benefits of a streamlined, automated compliance process. Compliance, when reframed as a strategic initiative, becomes a driver of business advancement, a value-add with the potential to align technology, security, and compliance strategies with broader business goals. 

The first step is having a policy governance program in place, complete with the proper policies and procedures, to build defensibility. For this purpose, leverage the CaaS software to perfect your own compliance practice. The impact will be the same as for your clients — a streamlined, effortless process for policy alignment, procedure authorization, compliance process adoption, and ongoing assessments, all designed to improve your compliance posture and reduce the risks of noncompliance. No other example will provide a stronger argument for adoption than your own MSP.

Compliance automation — as easy as it gets

CaaS is designed to free the practice of compliance management from the hassles of the past. It delivers on that promise by automating the controls that prove each step needed to achieve compliance is actually performed. In that sense, automation is the engine of CaaS, enabling you to demonstrate adherence to regulatory requirements with speed and transparency.

Final word

The increasing complexity of compliance has left a strategic business opening for MSPs. With the help of Compliance as a Service, you can seize the opportunity to expand your offerings beyond traditional managed IT services and become the holistic partner modern businesses seek.

Rather than a checkbox, compliance should be treated as a business strategy, mutually beneficial to both you and your clients. As organizations begin to recognize this new reality, they will turn to MSPs with the expertise and tools they need to succeed. By simplifying compliance, you just may be their first choice.

Contact Compliance Risk

To learn more about Compliance as a Service and how your MSP can benefit, tune in to the latest Beard Banter podcast with our CEO Tim Golden, or contact us at ComplianceRisk. Can’t wait to get started? Download our Policy and Procedure Playbook for MSPs and IT Services Providers – Download Playbook.

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