The Regulatory Burden

The advent of eCommerce has lessened the barrier for many to enter the retail sector. This has increased competition and the pressure for retailers to better understand their customers and offer the right products, at the right time, at the right price.

How do you do that? The answer is data—lots of it. The more you collect, the more you can analyze what your customers need and outshine competitors.

At the same time, retailers also want to grow quickly across multiple regions and countries, with a low-skill workforce subject to high turnover. So you need IT systems with low investment costs that can scale rapidly and offer easy-to-use, flexible applications.

In addition to the high volume of data retailers must protect, competing globally means achieving compliance with numerous regulations. To do this successfully, retailers need an automated compliance solution built to help them identify all of their compliance requirements and implement data privacy best practices.

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A Framework for Cybersecurity Success

Security and compliance risks around the collection of data have never been higher. This is put into perspective when one considers the variety of data a retailer is likely to collect including names, payment information, addresses, age, purchasing history and more.

The above is just for point-of-sale transactions with major credit cards. If the retailer runs its credit card program or conducts e-commerce, it will collect customers’ credit histories, user IDs and passwords, and more.

All of that data is subject to protection from multiple laws that can reach across various jurisdictions. U.S. retailers, for example, strive to demonstrate compliance with the PCI DSS framework to protect credit card data. A business that collects data about European Union citizens will need to confront the EU’s General Data Protection Regulation (GDPR).

With all of these requirements, it quickly becomes unmanageable to manually track the implementation of compliance requirements.

Manage Compliance and Risk with Confidence and Ease

The Reciprocity® ZenGRC® platform provides retailers of all sizes a cost-effective, unified system to manage controls across multiple frameworks and enable CISOs to monitor key performance indicators for compliance and IT security efforts.

Our governance, risk and compliance solution continuously monitors your compliance stance, showing you where you’re doing well and where you (or your vendors) may have security gaps that should be filled to maintain compliance.

ZenGRC’s centralized dashboard shows you, at a glance, how to fill compliance gaps, keeps you updated on evolving requirements and can help you implement internal audits with a few clicks.

ZenGRC integrates seamlessly with various retail software, automatically migrating your customer and transaction data, so you don’t have to. And with universal mapping, you need only create a control once and allow ZenGRC to map it to similar requirements across other frameworks such as PCI, HIPAA, SOC, or otherwise.

With ZenGRC, you can let the retail compliance software do the heavy lifting and focus your attention on what matters: keeping your customers happy and growing your business.

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Compliance Objectives

Several compliance regulations impact retailers and risk management frameworks that can empower you to protect your business, safeguard data and meet legislative objectives.

For example, PCI DSS 3.2 requires retail companies to demonstrate ongoing compliance with security standards. At the same time, the NIST Cybersecurity Framework (CSF) can empower retailers to better understand their cybersecurity risks and improve their defenses.

However, tracking risk assessments, gap analyses and remediation efforts across multiple frameworks can be daunting when done manually through spreadsheets.

With an automated solution like ZenGRC, you can clearly define your requirements and obtain actionable guidance to help you:

  • Assess vulnerabilities in your transaction systems, network and application layers
  • Analyze customer and payment data collection practices for non-compliant behaviors
  • Remediate any weaknesses while organizing your documentation for potential audits
  • Map progress on those remediation efforts to ensure that risks are appropriately mitigated
  • Report risk assessments and remediations for compliance certification
  • Integrate new threat alerts or updated regulations into your compliance program

Choose the product that suits you

Reciprocity ZenComply

Accelerate your compliance programs and see how they impact your risk posture.

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Reciprocity ZenRisk

Gain contextual insight on your risk posture to mitigate business exposure.

Frequently Asked Questions

PCI DSS is not required by law, but often, it is required by contracts with major payment card brands. Thus, merchants and retailers who process transactions will likely be needed to fulfill its requirements.

PCI DSS lays out twelve requirements for merchants and retailers who want to achieve compliance with the framework:

  1. Safeguard cardholder data with a secure system and network firewalls
  2. Update weak or default passwords with unique, more complex versions
  3. Any cardholder data or customer behavior data should be secured if stored
  4. Encrypt cardholder data transmitted over networks
  5. Implement antivirus protocols and ensure all security software is updated
  6. Ensure IT systems and applications are protected and monitored
  7. Restrict access to sensitive data
  8. Assign team members with access to sensitive data a unique ID
  9. Restrict physical access to sensitive data
  10. Access to sensitive data should be monitored and routinely reviewed
  11. Routinely test all security measures to ensure they can reasonably withstand threats
  12. Create clear and consistent information security policies made available to all staff

As retailers implement their own risk management and security programs, they must also consider those of any third-party vendors that fulfill their supply chain. Here are some of the risks retailers should consider:

  • Security vulnerabilities of Software-as-a-Service (SaaS) providers
  • Poor information security practices by third-parties
  • Compromised hardware or software that integrates with your systems
  • Subpar security controls for third-party data storage

Should any of these be present in your supply chain, that risk can impact your critical infrastructure, operations, and any sensitive data you store.