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Simplify Compliance in Financial Services with M365

The Cost of Compliance

Data Protection and Compliance are amongst the most challenging areas of business operations.

According to the Cost of Compliance 2017 report, more than 200 updates are issued every day, from 750 regulatory bodies worldwide. Staying up-to-date with changes is placing huge demands on your compliance team.

Industrial regulations and standards are usually the remit of compliance teams, however expertise in risk, auditing and operations is not enough; this knowledge must be combined with an understanding of technology, and the applications used on-premises and in the cloud – traditionally the domain of inhouse IT professionals. Very few organisations are able to recruit and retain resource with the broad range of knowledge to fulfil both functions.

Add in the complexity of a mobile-first, cloudfirst world, where organisations encourage their people to use multiple devices and applications, and the situation becomes even more challenging.

How Compliance Manager Helps

Compliance Manager, created for Microsoft 365, helps to simplify your compliance journey by giving you the information and tools to assess your compliance risks, conduct risk assessments and manage your end-to-end compliance processes when using Microsoft Cloud services.

Who can use Compliance Manager?

Compliance Manage, has been created and designed particularly for use by the people in your organisation who are responsible for:

  • Compliance
  • Privacy
  • Security
  • Risk assessments
  • Auditing
  • Data protection
  • IT administration
3 Key Pillars of Compliance Manager

1. Ongoing Risk Assessment

  • See how compliant you are right now, using Compliance Score
  • The higher the score, the more compliant your usage of the cloud service
  • Prioritise areas that need immediate implementation

2. Areas To Focus On

  • Get step by step guides to help configure or enable features
  • Improve collaboration and streamline workflows
  • Save time spent creating and amending reports

3. Compliance Simplified

  • Built-in tools to collaborate and track your compliance activities
  • Assign activities to relevant teams (such as HR, IT admin, Privacy)
  • Generate richly detailed reports in a few clicks
Compliance Score

This risk-based score helps you carry out self-assessments. A score is assigned to each control based on the level of risks involved, due to non-compliance or control failure. You’ll get an overall score for each assessment, including for implementing and testing the areas over which you have control, each of which have a specific value.

Getting Started With Compliance Manager

Partnering for success

Your cloud journey can feel overwhelming, with compliance, governance, security, technology, and compatibility all to be considered.

Our Cloud Journey Assessment can help you ensure you’re on the right track, providing you with professional services to complement the skills you have and provide the skills you don’t.  

We can support you and your people in adopting Compliance Manager, to ensure a speedy return on investment.

About the author

Chess

Chess

Chess is one of the UK’s leading independent and trusted technology service providers, employing 300 skilled people across the UK, supporting over 20,000 organisations.

 By leveraging world-class technology, Chess helps you to connect your people, protect your data, grow your business, reduce your costs and work better together, which means your business, your people and your customers can thrive.

At Chess, we’re passionate about our unique culture and our continuous investment in our people to be industry experts. We’re extremely proud that our people voted us No.1 in ‘The Sunday Times 100 Best Companies to Work for’ list 2018, and we continue to celebrate more than ten years in the top 100.

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