Companies can easily underestimate the investment required to meet compliance. Thinking compliance is a one-and-done activity that you can skate by with minimal spend only sets you up for unpleasant surprises later on. Compliance can be a long, drawn-out process, involving HR, finance, security, leadership, and others. So it’s important to look at all the costs up front in order to set aside a realistic budget.
A good way to approach compliance is to treat it like a new product launch. You’ll need a dedicated project team, new technology, a reasonable budget, and more to get it off the ground.