Let’s start by answering the first question: What is NIST compliance. The National Institute of Standards and Technology (NIST) is not a regulatory agency but is under the United States Department of Commerce. The primary role is to set standards and security controls for non-federal companies that work as contractors for the federal government such as manufacturing plants. This way, the entire federal supply chain is intended to be protected from security breaches.
If you’re in the manufacturing sector and have eyes on contracting with the federal government or agency of the federal government, having NIST compliance in place will set you apart from other manufacturers. This may also impact how fast you can begin your work with these agencies. That can make a big difference in landing a contract or having to wait for NIST compliance to be eligible for government contracts.
Benefits of NIST Compliance
NIST Compliance standards protect sensitive information and come with a number of benefits.
- Any business can implement these standards. In doing so, you are likely also HIPAA, FINRA, and SEC compliant. As your IT Compliance team, 911 IT would make sure the specific standards for your industry are met.
- Improved risk management because you’ve already identified and assessed risks and implemented changes to meet regulatory requirements. In this way, you avoid fines and penalties.
- Security in place. NIST Compliance means your team has security policies and procedures up and running, This includes educating employees about threats. This leads to improved security and reduced risk of data breaches and other security incidents.
- Competitive advantage. NIST compliance can give organizations a competitive advantage over others who do not adhere to these standards. It demonstrates to potential customers that an organization is committed to data security and is better equipped to handle sensitive information.
- Preparation for business continuity planning. We’re already assessing security, reviewing networks, and educating employees, and your organization is closer to having a business continuity plan in place. In case of a manmade or natural disaster, your team can have a plan to get IT back online with limited downtime.
Overall, NIST Compliance is essential for any organization that handles sensitive information. It helps improve information security, build customer trust, and ensure compliance with regulatory requirements while also providing a competitive advantage in the marketplace.