When it comes to compliance with regulations like CMMC 2.0, DFARS, ITAR, and NIST SP 800-171, companies must balance the cost and effort of compliance with the need to maintain business operations and competitiveness.
This can be a difficult task as compliance may require significant investments in time and resources that could otherwise be used for innovation. However, non-compliance can result in heavy fines or even loss of contracts.
To manage this risk, companies should develop effective risk management strategies that prioritize compliance while still allowing for innovation. This means identifying potential risks associated with non-compliance and implementing controls to mitigate those risks while still fostering an innovative culture within the organization.
Ultimately, maintaining a balance between compliance and innovation is key to ensuring long-term success for any business operating in regulated industries.