IT compliance is essential to avoid legal penalties, business disruption, reputational damage, and financial loss. In 2011, non-compliance costs averaged $9.35M, while compliance cost just $226 per capita—1.65x less. Compliance isn't a one-time task or limited to large firms; it's ongoing and applies to all organizations. Key steps include identifying relevant laws, evaluating current practices, planning incremental improvements, enabling teams with tools and training, conducting audits, and staying updated with regulatory changes. GRC automation simplifies tracking and reduces human dependency.

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