Looking to add another potent revenue driver to your portfolio? Look no further than CaaS. No, it’s not the latest cloud computing offering. I’m talking about Compliance-as-a-Service – a potential goldmine for managed service providers. Becoming a resource customers can look to for help in meeting rigid industry regulations comes with numerous advantages. Not only does it offer a way to attract new clients and boost profits, it will give you a considerable edge over competitors still peddling the same basic managed services.
Of course the big selling point is what you can do for your customers, and when it comes to perks, this one shells out plenty. MSPs can pass along benefits such as the ability to:
- Identify and evaluate compliance-related risks
- Manage risks by implementing, testing, and validating controls
- Make sure to document policies and enforce them
- Devise strategies for control issues and audit findings that might jeopardize compliance
- Use reporting data and sustained compliance to improve operational efficiency
Meeting compliance is a multi-layered process. Organizations need to draw up policies and procedures, educate and train staff, enforce security standards and much more. In order to lend an expert hand, service providers must know the ABCs of satisfying compliance in industries abroad. We’ve assembled a list of training resources to help MSPs find their footing.
HHS.gov: The U.S. Department of Health and Human Services (HHS) provides guidance, educational resources, training programs and expert opinions on healthcare compliance. Can be somewhat difficult to navigate, but this site is huge with valuable information spread across numerous sections.
Healthcare Corporate Compliance: Contains up to date information on hospital compliance, HIPAA, and general health law. Resources are available in the form of online articles, white papers, CD-roms and newsletters.
HCCA: Formed in 1996, the Health Care Compliance Association is a member-based group dedicated to providing resources such as training, certifications, and educational tools. The 10,000-plus member network is comprised of hospitals, clinics, and technology service providers.
FTC.gov: The Federal Trade Commission (FTC) is a government entity that creates standards all organizations must comply with regardless of size or industry. Here you can find pages of information on competition, advertising, financial practices and other areas of compliance. The official FTC website is one of the best places to turn for training resources.
Redstone Government Consulting: Provides live seminars, webinars, and customized training programs to government contractors. Redstone Government Consulting focuses on delivering educational resources that help contractors small and large alike create and maintain government compliance.
GovInfoSecurity: A property of Information Security Media Group, GovInfoSecurity consistently provides fresh content with government IT leaders in mind. With convenient access to daily news stories, interviews, industry research, webinars, and a wealth of premium content, interested parties can create effective cyber security strategies built around the most stringent standards.
Legal Compliance Resource: Provides access to seminars, live and on-demand webinars, books, and online documentation. Ideal for those seeking legal training resources. A property of Lorman Business Center, the aptly named Legal Compliance Resource features a balanced mix of premium and free content for both members and visitors.
Rapid Learning Institute: Provides a plethora of resources for those interested in the area of employment law. Training videos, webinars, how-to guides, and an automated training system make up a diverse pallet of free and premium resources that help put compliance in easier reach.
DuetsBlog: A content-rich blog that uses a host of real-world examples from expert guest bloggers to teach the finer aspects of legal concepts. Covering categories that range from contracts and copyrights to lawsuits and patents, DuetsBlog proves that you can’t always judge a website by its archaic design.
FINRA: Authorized by Congress, the Financial Industry Regulatory Authority is an independent, non-profit organization that takes it upon itself to see that brokers operate with honesty and integrity. FINRA maintains a massive online portal featuring a collection of podcasts, webinars, online learning courses and more on financial regulations.
ComplianceOnline.com: This is the world’s first large-scale compliance portal. The website targets global compliance across multiple sectors, including the banking and financial services industry. MSPs have access to white papers, compliance Q&A’s, webinars, mobile learning tools, and even corporate training programs that can be delivered online or onsite.
Consumer Finance Protection Bureau: This is a U.S. government website. It’s perfect for financial institutions, service providers, and all those interested in consumer financial protection regulations. The content here could stand some better grouping and organization. But between all the guides, market data, and educational resources, the patient researcher will find plenty of useful information.
U.S. Department of Education: Due to the federal government’s limited role in education, this site recommends state-level resources for most compliance training needs. However, you can still find plenty of information on the regulatory aspects of civil rights in education and laws such as the Higher Education Act here.
NACUA: The National Association of College and University Attorneys (NACUA) plays an active role in educating legal professionals and administrators on the federal, state, and local regulations that govern campuses across the nation. Compliance resources include interactive workshops, online courses, and a massive library of member content indexed by topic.
Higher Education Compliance Alliance: Formed by the NACUA, the Alliance provides centralized resources for the education field. You can search the repository by topics such as financial aid and IT. You can also check out one of the many available compliance programs.
Assembling Your Own Compliance Training Program
Having resources at your disposal is great, but MSPs can strengthen their compliance offerings by customizing their very own training program. What should that program entail? I’ll leave you with these tips:
- Target the right industries: Whether it’s healthcare, PCI-DSS, financial services or a combination of the three, tackle the compliance standards that best match your staff expertise and audience needs.
- Choosing your training methods wisely: This post gave you a gamut of options. But not all compliance training methods are suited for all service providers. A healthy of blend of formal (live or online training courses) and informal methods (engaging in community discussions or studying success stories) may be just what the doctor ordered.
- Create accountability: Your clients designate personnel to oversee their compliance initiatives. Your program should be headed by someone who can create, review, approve, and deliver training content.
- Measure your results: You will need to set goals for your training program. You can then identify metrics and tools that will make it possible to effectively measure those goals.