The Benefits of Consolidating Compliance Services with a Single Provider

In today’s complex and constantly evolving regulatory environment, businesses face an ever-growing array of compliance requirements across multiple frameworks ranging from FedRAMP, PCI, ISO, GDPR, and HIPAA, to name a few. Navigating these compliance waters is increasingly challenging, particularly with regards to cybersecurity and data protection.  

However, there are measures you can take to significantly refine your compliance processes. In this article, we will explore how streamlining all of your compliance efforts with a single trusted provider can not only simplify your processes but also enhance your overall security posture.  

Overview of Compliance Services

At Schellman, our comprehensive compliance services are tailored to meet the needs of diverse industries facing various regulatory pressures. At a high level, our offerings span several critical areas including:  

• SOC Examinations and Attestations: We provide a suite of SOC examinations (including SOC 1, SOC 2, SOC 3, SOC for Supply Chain, and SOC for Cybersecurity) that cater to different stakeholder needs—from financial reporting to operational controls and cybersecurity effectiveness. These services ensure that your financial and cybersecurity claims are proven valid to a third-party. 

• Federal Assessments: Our expertise in federal assessments is extensive, including services like FedRAMP for cloud service providers, CMMC and NIST SP 800-171 for defense contractors, and FISMA/NIST for aligning with federal cybersecurity requirements. 

• Payment Card and Financial Assessments: We conduct comprehensive assessments for organizations handling sensitive payment card information. This includes PCI DSS Validation, PCI SSF, PCI P2PE Validation, and other related services to safeguard payment systems from data breaches and fraud. 

• Healthcare Assessments: Recognizing the critical nature of healthcare information, our assessments cover HIPAA Compliance, HITRUST CSF Certification, and more, ensuring that patient data is protected in accordance with stringent regulatory standards. 

• ISO Certifications: We guide organizations through the certification process for various ISO standards, including ISO 27001 for information security management, ISO 22301 for business continuity, and ISO 42001 for managing artificial intelligence systems. 

• Privacy Assessments: Our privacy services include GDPR Assessments, US State Privacy Assessments, and international privacy assessments, helping organizations navigate the complex landscape of data protection laws and regulations globally. 

• Cybersecurity Assessments: From Web and Mobile application assessments to advanced Red Team exercises, our cybersecurity services are designed to identify vulnerabilities, mitigate risks, and enhance the security posture of your organization. 

• Emerging Technologies and Digital Trust Services: We also address the unique needs of the digital and emerging technology sectors, including assessments for blockchain implementations, digital trust services for certificate authorities, and specialized audits like those for CA/Browser Forum. 

Each of these services is part of our integrated approach, designed not only to ensure compliance with regulatory frameworks but also to enhance your organization’s security and operational efficiency. By partnering with Schellman, you benefit from our holistic approach to compliance and cybersecurity, which ensures that all aspects of your organization’s needs are addressed comprehensively. 

The Complications of Managing Multiple Vendors

Managing compliance across several frameworks is not just a matter of increased regulatory scrutiny—it also involves significant operational complexities. When dealing with multiple vendors for different compliance needs, organizations face a host of challenges: 

• Increased Coordination Efforts: Each vendor relationship typically requires separate coordination  and methods of communication such as e-mails, meetings, and processes. This can lead to a significant increase in the time spent managing these relationships instead of focusing on other business functions. 

• More Stakeholders to Manage: Multiple vendors mean more points of contact. Each stakeholder may have different expectations and communication styles, complicating project management and increasing the potential for misalignment. 

• Varying Contracts and Terms: Contract management becomes more cumbersome as each vendor may have different contractual terms, billing cycles, and service level agreements. This variability can lead to administrative burdens and increased legal oversight to ensure compliance. 

• Diverse Expectations and Quality Standards: Different vendors might have different levels of service quality and compliance expertise, leading to inconsistent service delivery. Ensuring that each vendor meets your organization’s standards for compliance and security requires additional oversight and quality control measures. 

These challenges not only increase operational costs but also distract from your organization’s primary goals. By consolidating your compliance efforts with a single trusted provider like Schellman, you can significantly reduce these burdens, streamline your compliance processes, and ensure a uniform standard of quality and efficiency across all regulatory requirements. 

Benefits of Consolidating Compliance Services with a Single Provider

Navigating multiple compliance initiatives on top of normal business operations is complex enough on its own and adding the challenge of managing various vendors separately only increases the burden. Partnering with a single compliance provider comes with numerous strategic efficiencies and advantages, including: 

• Streamlined Management and Enhanced Efficiency: By consolidating your compliance efforts with Schellman, you benefit from coordinated management of your compliance activities. Our teams work collaboratively across business units to deliver comprehensive assessments. As a united firm, we synchronize timelines, points of contact, documentation, and knowledge of the environment facilitating a comprehensive experience from start to finish.

• Unique Offering of Penetration Testing: Unlike many auditors, Schellman also offers in-house penetration testing to support compliance assessments. Many compliance frameworks, such as FedRAMP, PCI DSS, and ISO 27001, require a penetration test to achieve the certification. Our integrated approach means that our own penetration testing team works closely with compliance auditors. 

• Cost-Effectiveness: Working with a single provider allows for economies of scale, reducing the overall cost of compliance. Our bundled services mean fewer separate engagements and less redundancies in evidence collection and reporting. 

• Comprehensive Security Solutions: Our holistic yet flexible approach means that we can meet all of your compliance requirements in-house. From initial risk assessments to ongoing compliance checks, we ensure that every layer of your organization is protected and stays compliant. 

• Industry Expertise and Regulatory Compliance: Our deep industry expertise and up-to-date knowledge of regulatory changes mean that we do the heavy lifting. You’re always ahead of the curve, ready to adapt to new requirements without missing a beat. 
  

Consolidating compliance services with a single provider not only simplifies your processes, saving valuable time and resources, but it also enhances your overall security posture. Partnering with a single provider like Schellman leads to a more streamlined and comprehensive audit experience so you can focus on your daily business operations while ensuring you remain compliant with required regulatory frameworks. 

Keeping Track of New Developments

• Advancing with Red Team Assessments: Our Red Team assessment service offering can help you meet the new requirements of FedRAMP Rev5. These exercises test the resilience of your security controls against sophisticated attack vectors, ensuring comprehensive defense mechanisms are in place. 

• CREST Certification for Enhanced Security Testing: We have achieved CREST certification, underscoring our commitment to maintaining the highest standards of penetration testing. Our CREST certified penetration testers bring expert knowledge and methodologies to each engagement, ensuring top-tier security evaluations. 

• Expanding into AI with ISO 42001 and Specialized Penetration Testing: Our recent expansion includes assessments and penetration testing tailored for Artificial Intelligence and machine learning models, including AI and LLM technologies. With ISO 42001, we provide a framework to manage AI systems effectively, ensuring they are secure, reliable, and compliant. 

• Insight into Future Compliance and Law Developments: Schellman continually watches the regulatory and compliance environment for upcoming changes, and where possible, notifies clients of potential changes affecting their assessments. The past year has shown several developments in key areas of cybersecurity policy, such as the proposed HISAA for healthcare cybersecurity, the CIRCIA incident reporting act, and several new EU cybersecurity regulations. 

By partnering with Schellman, you can proceed with confidence that you’d not only be streamlining your compliance efforts under a single trust service provider, but you’d also be locking in the most advanced and up to date compliance measures to minimize risks and vulnerabilities.  

Moving Forward with Consolidating Your Compliance Auditing Services 

Consolidating your compliance and auditing services with a single audit provider not only streamlines your processes but also fortifies your organization against threats, enhances your security posture, and ensures compliance across the board. With Schellman as your single auditing and assessment provider, you can rest assured that your compliance needs are managed effectively, allowing you to focus on what you do best—running your business. 

Ready to simplify your compliance journey and strengthen your security? Let our team help you navigate the complex world of regulations with personalized solutions. Fill out our contact form today, and we'll reach out to discuss how we can streamline your compliance efforts.