There are many different compliance issues that businesses face daily. From data security to employee training, it can be difficult to keep track of everything that needs to be done to stay compliant.
In this blog post, we will discuss the top 5 compliance issues that businesses face today. We will provide tips on how to overcome these challenges and maintain compliance in your business.
REQUEST ONLINE PRESENTATION
We’ll demonstrate how you can save money while improving your efficiency and accuracy when you outsource your back office services to TEAM LUXA.
Let Us Present A Plan →
1. Data Security
Protecting your data is essential to protecting your business. There are many different ways to protect your data, from password protection to encryption.
Make sure you have a data security plan in place and that all employees are trained on how to protect sensitive information.
2. Employee Training
Employees are your most valuable asset, but they can also be your biggest liability. Training employees on compliance issues is essential to protecting your business.
Make sure all employees are familiar with the company policies and procedures, and that they understand the consequences of violating these policies.
3. HIPAA Compliance
The Health Insurance Portability and Accountability Act (HIPAA) was created to protect the privacy of patients’ health information.
Businesses that deal with Protected Health Information (PHI) must comply with HIPAA regulations. There are many different aspects of HIPAA compliance, so make sure you are familiar with all of them before implementing a healthcare-related program or service.
4. FCRA Compliance
The Fair Credit Reporting Act (FCRA) requires businesses to take steps to protect the privacy of consumer credit information.
Businesses that collect and/or share credit information must comply with FCRA regulations. This includes implementing a data security plan, obtaining written permission from consumers before sharing their information, and destroying credit information when it is no longer needed.
5. Trade Compliance
The United States has many trade compliance regulations that businesses must comply with. These regulations include the Export Administration Regulations (EAR), the International Traffic in Arms Regulations (ITAR), and the Customs and Border Protection Regulations (CBP).
Make sure you are familiar with all of these regulations and take steps to ensure your business is compliant.
How to Ensure Your Business Is Compliant
As a business owner or CEO, you have countless things to keep track of. With so many possible areas of non-compliance, it may feel overwhelming to try and ensure your business is compliant.
At LUXA, we are passionate about helping businesses of all sizes comply with the ever-changing compliance landscape. We offer a variety of services to help businesses become and stay compliant.
If you are looking for help with data security, employee training, HIPAA compliance, FCRA compliance, or trade compliance, please contact us. We would be happy to discuss your specific needs and provide you with a proposal outlining our services.
LUXA Enterprises specializes in HR services, outsource accounting, bookkeeping, and payroll services. We match up with ideal candidates for services by allowing small to midsize businesses to increase focus on their growth through outsourcing. If you want to know how we can help you, contact us today!
REQUEST ONLINE PRESENTATION
We’ll demonstrate how you can save money while improving your efficiency and accuracy when you outsource your back office services to TEAM LUXA.
Let Us Present A Plan →
Call TEAM LUXA today at (918) 928-7288 to learn more about why outsourcing is right for you!