With the need to meet IT security compliance requirements a priority for government contractors and other small businesses, it is useful to take a look at some interesting positive and negative statistics related to this issue.
By getting a better understanding of the current state of IT security compliance, your small business will be motivated to work with an IT expert to meet the challenges of an ever-changing cybersecurity environment.
The statistics reported in this article came from the following sources: FloQast, Drata, CEI, IBM, Kaseya, Thomson Reuters, Vanta, Coalfire, JumpCloud, Help Systems, Accenture, Federal News Network, Kiteworks, Clausematch, HHS, World Economic Forum, Washington Technology, Compliancy Group, Navex, Gable, Gartner, A-Lign, and Grand View Research.
Negative IT Compliance Statistics
-74% of managed service providers report that their clients struggle to meet regulatory requirements.
-47% of company managers are focused on only finding an easier way to achieve the legal requirements of compliance by checking the right boxes as compared with 16% who are looking to formulate and execute a strategic approach to IT compliance.
-Security breaches cost $220,000 more on average when noncompliance with regulations was a factor in the cybersecurity event.
-Corporate officers cite the three top reasons their companies have difficulty with IT compliance as a lack of experienced and knowledgeable staff, inadequate resources, and a poor company culture.
-60% of Governance, Risk Management, and Compliance Management (GRC) users still manage their efforts with spreadsheets.
-It costs US companies an average of $10,000 per employee to comply with regulations.
-66% of managers believe that the cost of compliance staff will continue to rise.
-41% of companies report that the lack of continuous compliance has negatively impacted their sales cycle.
-73% of companies do not have a staff member dedicated to IT security and compliance.
-41% of companies report they lack the tools and systems to enforce the policies required to achieve and maintain compliance.
-More than 75% of organizations report lacking visibility into their IT assets.
-CMMC compliance affects approximately 300,000 companies, but only 4% of organizations report being fully prepared for CMMC certification.
-An estimated 80,000 companies will require third-party CMMC assessments in the near future in order to participate in Department of Defense (DoD) contracts.
– HIPAA fines have surpassed $140 million, and 60% of companies in the healthcare industry report not feeling confident they would pass a HIPAA audit.
-19% of companies report that governing bodies have taken legal or regulatory action against their organization in the last three years.
-Fines for non-compliance under the American Privacy Rights Act (APRA) are projected to reach up to 4% of a company’s global revenue.
Positive IT Compliance Statistics
-61% of companies plan to increase their compliance expenditure over the next two years with 65% planning to invest in new compliance technology.
-The cost of non-compliance, which includes business disruption, productivity losses, revenue losses, and fines is almost three times as much as the cost of compliance.
-70% of corporate risk and compliance professionals have noticed a trend toward a more strategic approach toward compliance.
-73% of corporate leaders agree that following cyber and privacy regulations has been effective in reducing their cyber risk.
-The global enterprise GRC market is projected to grow at a 14% compound annual growth rate through 2030 with small and medium-sized companies expected to have the highest growth rate.
-70% of corporate leaders say that improved security and compliance has positively influenced their businesses.
-80% of compliance professionals believe that their organizations see risk and compliance as essential business functions.
-Corporate investment in tools for GRC will increase by 50% in 2026.
-75% of companies are using AI for risk management with 44% using AI to optimize their compliance process.
-83% of compliance professionals report that their organizations consider staying compliant with all relevant laws, policies, and regulations as absolutely essential.
-76% of compliance professionals say their organizations consider it very important that they build and maintain an ethical culture of compliance.
-67% of CEOs are confident in their organization’s regulation compliance.
-50% of risk and compliance professionals consider their compliance programs as mature with only 6% describing their programs as the least mature.
-65% of companies report having sufficient to very sufficient funding to audit compliance activities and act on the result.
-62% of companies say they have sufficient to very sufficient staffing to implement necessary compliance activities.
-94 of corporate leaders believe AI will significantly affect their business strategy, and risk and compliance strategy are one of the top areas of focus.
Consult with an IT security Compliance Expert
An important piece of knowledge for your organization to realize is the necessity of working with a trusted IT and security compliance expert like Network Depot to ensure you are optimally meeting all regulatory requirements.
IT compliance statistics and trends will change every year, but a dependable IT Support partner will always be there to help you with compliance and IT security challenges. Your trusted IT partner will be with you every step of the way providing advice on how to best reach and maintain your IT security compliance needs.
By helping you effectively meet your IT security compliance requirements, your IT Support partner will ensure that your business is well-protected and that you will be able to consistently achieve your organization’s unique goals.