IT compliance is a set of practices meant to ensure that business technology meets certain legal and regulatory requirements in order to protect sensitive data. Whether supporting SOC 2 compliance, HIPPA, PCI-DSS, FINRA, or ABA guidelines, specific requirements will vary depending on the particular industry and nature of the business. These guidelines must be followed to avoid penalties, maintain compliance, or to secure cyber security insurance; regardless of the requirement, there are typically recommended policies and procedures established by regulatory or governing bodies so organizations understand what is required to comply. Often times, these policies and procedures are not easily understood by the business. The main purpose of regulatory compliance is to protect data and business operations. Think of it as a form of risk management to protect the business, their customers, and their investors A business can obtain everything from social security numbers to home addresses from customers and employees. And when that valuable information is handed over to a business, that organization is responsible for how the data is managed. Taking necessary precautions to defend sensitive data involves implementing appropriate security measures. Data breaches and other cybersecurity attacks put valuable information at risk, so regulatory compliance is important not just for following the law but also for safeguarding businesses. IT compliance and security can cover broad services like cybersecurity and systems monitoring as well as the specific adjustments that businesses must make for compliance. For example, ISO regulatory standards require continual improvements to information security management systems, among other obligations.