When it comes to software designed to help businesses work smarter, many organisations are still running systems purchased years ago. While they may still be investing, the support is reducing in quality – or no longer available at all. In addition, updates are less frequent and don’t match business requirements. For this reason, when it comes to navigating the minefield of compliance, outdated solutions pose a risk to businesses. Not only do they threaten to compromise efficiency, but growth is also stifled as a result.
Compliance is particularly crucial for those holding swathes of customer data, from not-for-profits to retailers, from membership associations to public sector organisations. Done well, compliance can protect an establishment’s reputation with the safekeeping of customer information, or optimise efficiencies through enhanced data management processes. While a legal requirement and priority for businesses, compliance comes with additional benefits when harnessing the right solution.
Security: the key consideration in the mission of compliance
Cloud-based solutions now hold the key to security. What’s more, their increased adoption is a testament to the fact that concerns around storing data in the cloud are ebbing away. With the emergence of mandatory regulatory developments such as the General Data Protection Regulation (GDPR), organisations across all sectors are affected. What’s more, stricter requirements on collecting, storing, and managing customer data put businesses under increased pressure. Implementing or upgrading to a cloud-based tool that offers enhanced security is the most effectual way to become (or remain) compliant.
Businesses using on-premise or internet-based systems nearing the end of their lifecycle must consider the impact on their security capability. Security is also a factor in deciding what solution to migrate to as an alternative. Transitioning to a solution such as Microsoft Dynamics 365, for example, could mean benefitting from the many security features powered by Microsoft Azure; features that simply wouldn’t be achievable in house. These include industry-standard encryption protocols, protection from malware threats, multi-factor authentication for access management, and secure networks and firewalls. With robust cyber security offered by such solutions, leaders will have total peace of mind that compliance is covered.
For organisations (such as those in the public sector) where enhanced accessibility is key, businesses should choose a solution that ensures no irrelevant or inappropriate permission is granted. With the issue of security exacerbated by the pandemic, having role, record, or field-based security means parameters can be set to ensure the right people can access specific records relevant to their role. This kind of control is invaluable in maintaining and managing compliance. It is, therefore, crucial to avoiding breaches that may cause harm to reputation, public dissatisfaction or even legal recourse as a consequence of data mismanagement.
Driving efficiencies with the latest cloud solution
While compliance maintenance can prove an ongoing headache for organisations, migrating to a cloud-based solution can help businesses both remain compliant and drive further efficiencies, with the ability to:
- Identify and manage risks – with centralised dashboards and automatic notifications, potential issues are flagged before they become threats. A single version of the truth also enables smarter decision making, reducing the risk of duplicate data input.
- Work more collaboratively – operating from a single version of the truth also empowers teams to work more cohesively; eliminating silos, streamlining communication and involving the relevant parties through carefully managed permissions.
- Reduce the cost – eliminating the cost of office and storage space, cloud-based compliance saves businesses time and money – with the added convenience of automatic updates to ensure utmost security at all times.
- Enhance performance – thanks to the ability to work collaboratively and communicate more effectively, the flexibility of cloud-based compliance allows businesses to focus on quality analysis and insight, driving better performance and paving the way for future growth.
A key compliance area is monitoring workplace behaviour – in a way that the monitoring itself is compliant. If the systems in place cannot monitor both remote and on-site workers, it becomes a serious business risk. Recent changes to legislation and working practices have made this a veritable minefield to navigate.
Organisations using systems that may soon be outdated should waste no time in planning an upgrade. They will be able to capitalise on heightened security, controlled accessibility, and cutting-edge capabilities, ensuring compliance isn’t compromised. By implementing the modern functionality of a cloud solution, a more streamlined and scalable process also allows leaders to continue growing their businesses. This makes way for further efficiencies within an organisation, from saving precious time and money to offering teams a system that is easy to navigate.
Empowering business compliance with cloud ERP
Cloud-based enterprise resource planning (ERP) solutions can help drive effective governance, risk and compliance and empower businesses to implement the most prevalent controls – now even more vital in today’s remote workforce scenario.
As a Top 5 Oracle NetSuite partner in EMEA , BrightBridge’s expertise in the delivery, integration, and optimisation of such solutions provides businesses with peace of mind from the outset. From customising workflows and automating approvals for transactions via a reliable trail, or building layers of flexible, access-based security into a system, smart Oracle NetSuite design ensures company assets are safeguarded. When it comes to making these changes, System Development Life Cycle (SDLC) and change management controls offered by cloud ERP are key components to managing customisations – ensuring only fully authorised and approved changes are pushed into a live environment
Whatever the future may bring, adopting the latest cloud solution allows organisations to future-proof their operations. By eliminating the disturbance often caused by compliance, businesses are thus afforded the breathing room to focus, take stock, and continue doing what they do best.
BrightBridge is a leading Oracle NetSuite and Microsoft Dynamics 365 Solution Provider and Sage Business Partner, with offices located in Leicestershire and Surrey. Each of BrightBridge’s leadership team has been in the IT Industry for over 30 years. Its expert operations team has far-reaching knowledge having worked with all the major software vendors. Now in its seventh trading year the firm has over 100 customers serviced by a business of 35 people based across two office locations. It serves businesses in various vertical markets, including B2B/B2C retail and wholesale distribution, FinTech, not-for-profit and professional services.
The company was formed in early 2015 by a group of colleagues who had worked together in ERP and CRM applications for many years. BrightBridge expanded in February 2018 with the acquisition of a similar NetSuite Solution Provider, and in March 2020, the company strengthened its portfolio again with the addition of a team of people from an established Microsoft practice, facilitating the creation of a new service and support arm.