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Managing the security and compliance in the organization is a time consuming best practice. It is also expensive and frustrating. It becomes a struggle to handle controls and audit requirements because of these challenges. Additionally the multiple regulations at every level make things even more complex. Things get worse when failure to ensure compliance with all the mandates and regulations can cause huge financial losses. There will be fines to pay, notification costs and there will be damage to the reputation of the organization.

Regulatory compliance however, helps in maintaining security compliance through security intelligence and proper reporting. There are variations in regulatory compliance and there is massive data collection and storage of event logs. Therefore, log management is merely a basis for compliance and is one of the many elements of effective security compliance strategies.

There are certain best practices which are recommended to improve security compliance.

• Validate controls are in place and operating as expected: It is a best practice to ensure that all controls are set in their right places and functioning appropriately. Controls are meant for ensuring security at every level in the organization.
• Collection of all data types across the network: There is a variety of data to be collected across the network in any organization. Data collection is a standard best practice ensuring regulatory compliance for security management.
• Storage of event logs to ensure ease of access: Storage of event logs ensure best practices in referring to valuable information.
• Centralized view of security and compliance: Having a centralized view of the entire setup for security and compliance is an important best practice for managers. This helps in ensuring regulatory compliance.
• Rapid identification of problems, reporting and correction: Identifying problems and predicting them is important. Likewise, reporting the problems and finding solutions instantly is a best practice which is difficult but very important.
• Notification of Policies compliance violations: To ensure best practices in security compliance management, managers must be notified of violations in policies.
• Correlation of volumes of event logs: There must be a correlation of information collected from event logs. This shows successful compliance management not just with security but other business tools and strategies as well.
• Documentation of incidents with full report: Documenting any incident with a full report is an important security measure. There may be minor details which can help CEOs and managers at a later time to improve security compliance.

Now there are software applications which have been designed to make best practices in security compliance management easier. This has made thing much easier and organized for managers and CEOs facing problems with security compliance management.

Further reading: Corporate Governance | Audit | Performance Improvement