What is a Managed Compliance Provider?

Your home is your sanctuary—a haven of comfort and safety. Logically the instinct to protect it is undeniable. When it comes to safeguarding what matters most, there is a choice you must make: Do you lean towards a DIY approach, perhaps just placing a lock on the door or relying on a neighbor to keep an eye out? Or do you choose peace of mind by investing in state-of-the-art alarm systems and cutting-edge anti-theft security measures? 

Much like safeguarding your home, businesses face a similar decision-making process. Businesses might contemplate the idea of assembling an in-house team to handle compliance, believing it to be a reliable choice. But what if we showed you a better, less expensive, more efficient way? 

Let’s discover: 

• What is a Managed Compliance Provider? 
• Why You Need a Managed Compliance Provider 
• Benefits of Managed Compliance Services 
• Why Choose BEMO as Your Managed Compliance Provider?  
• Frequently Asked Questions (FAQs) 

What is a Managed Compliance Provider? 

A managed compliance provider is more than a service —it’s the people power required to expertly navigate the challenging journey of compliance adherence. With various providers offering a spectrum of services, from basic assessments to comprehensive solutions, businesses face the crucial task of identifying the right partner to complete their compliance puzzle.

Why You Need a Managed Compliance Provider 

Achieving and maintaining standards in data security, integrity, and privacy require a specialized approach. This highlights the need for a seasoned team of experts by your side.  

This is precisely where managed compliance services play a pivotal role. These solutions encompass a thorough review of management practices, policies, and technical security controls, ensuring a comprehensive compliance audit of your IT infrastructure and overall business security posture.  

Does it sound like a lot? That’s because it is. Monitoring these areas is non-negotiable for compliance, whether it is in the SOC 2, ISO 27001, HIPAA or NIST 800-171 frameworks.  

The good news is that you don't have to directly supervise all the details. With the right compliance provider by your side, you can achieve and maintain compliance with ease, and run your business smoothly. 

Benefits of Managed Compliance Services 

Tackling compliance independently is like attempting to create a garden with little to no knowledge of plants, soil, or care requirements—potential for overgrown weeds, wilted plants, and an unkempt landscape is high. Collaborating with a managed compliance provider is like hiring a professional landscaper. An expert who understands the bigger picture of the compliance ecosystem, provides the right tools, keeps pests out, and cultivates a garden that's flourishing and well-maintained.  

Let’s go over the benefits of partnering up with a managed compliance provider: 

1. Expert Guidance for Peace of Mind: The main purpose of having a managed compliance provider by your side is for them to take care of all the details regarding compliance. Since they are the experts, they have the vast knowledge to manage your projects, review and test your security controls and policies, and help you fix (remediate) gaps in security. This will give you peace of mind knowing that they’ll get the job done correctly. 
   
   
2. Cost Savings: Leveraging a managed compliance provider can result in significant cost savings compared to building an in-house compliance team. With the average cost of building an in-house compliance team ranging from $492,000 to $820,000 yearly, depending on your business size and objectives, it is definitely worth looking for other options.  
   
   

   If you’re interested in a close-up budget comparison, check out this article’s section titled: Why Choose BEMO as Your Managed Compliance Provider?
    

3. Time Savings: Besides the monetary investment, tackling compliance requires time and effort. By having a third party supervising and leading managed compliance tasks, you gain back time to focus on core business activities. 

Why Choose BEMO as Your Managed Compliance Provider? 

Even after achieving a compliance framework, SMBs encounter challenges in maintaining it. You’ll need to consider the ever-evolving threat landscape, work with limited skills/experienced staff, undergo resource-intensive manual processes, and deal with inefficient reporting processes.

Partnering with a managed compliance provider, like BEMO, addresses these challenges, making your business better equipped to face what would otherwise be a massive headache. 

BEMO handles all the ongoing maintenance that goes into keeping you compliant to ensure that every aspect is seamlessly handled: 

• Quarterly Compliance Review 
• Annual Audits & Penetration Testing 
• Annual IT Compliance Policies Handbook updates 
• Continuous Compliance Monitoring Software 
• Dedicated BEMO Compliance Team to maintain your 72 hours compliance SLA 

In terms of cost, BEMO's solutions can significantly reduce expenses compared to building an in-house team. As mentioned earlier, the average expense of constructing an in-house compliance team ranges from 492k to 820k.  

In comparison, opting for BEMO’s Managed Compliance services can result in a noteworthy saving of up to 57%. Skeptical? Let the numbers speak for themselves. Simply refer to the following images to compare the costs associated with managing compliance independently versus with BEMO. 

Finally, BEMO's proven processes and expertise streamline the compliance journey, saving valuable time that can be redirected towards core business activities. By relieving you of compliance management responsibilities, we free you to focus on your core objectives. No more navigating complex regulations or risking compliance attestation due to avoidable errors 

Frequently Asked Questions (FAQs) 

Q: How Can I verify BEMO is a legit Microsoft Partner?
A: No problem, click here to visit Microsoft "Browse partner" page to find our credentials and read a summary of our work.

Q: I already have my team, why do I need this?
A: Our team comprises industry experts with specialized skill sets and years of experience that your team may not possess. Additionally, BEMO is a verified SOC 2 compliant company, actively working towards NIST 800-171 and CMMC attestations. We understand how to properly prepare you and what to expect along the compliance journey. 

Q: What areas do you cover under Managed Compliance Services? 
A: BEMO oversees the entire compliance process, starting with the achievement of Framework Assessment and Certification with a BEMO Compliance Engineer (which also includes free Migrations to M365), a comprehensive audit process, 3rd Party Penetration Testing and the development of IT Compliance Policies Handbook. 

Post-achievement, we continue to keep you compliant with quarterly compliance reviews, annual audits and penetration testing, updates to the annual IT compliance policies handbook, continuous compliance monitoring software, and a dedicated BEMO Compliance Team to maintain your 72-hour compliance SLA. 

Q: What would be the process to achieve compliance if I partner up with BEMO?
A: Throughout your compliance journey, you'll have a dedicated BEMO team overseeing the process. The duration of the process depends on your organization's size, the framework to attain, and your overall goals. We cover the following milestones for all our Managed Compliance customers: 

 Ready to secure your business with expert guidance, cost savings and valuable time back in your hands? Book a meeting with a BEMO expert now to explore how we can add value to your company as your managed compliance provider! 

 If you want to explore more options in the meantime, we recommend you start by reading our post, Top 8 Questions to Ask a Compliance Provider, so that you’re well-informed and make the best choice for your business.