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How a Global Payments Technology Company Streamlined Compliance Burdens: A Case Study

How a Global Payments Technology Company Streamlined Compliance Burdens: A Case Study

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As a leading global payments technology company, compliance wasn’t just a box to check; it was a critical part of maintaining trust, security and operational excellence. With a footprint in industries handling sensitive financial and healthcare data, the company had to navigate a complex landscape of regulatory requirements, including PCI, HITRUST and SOC. For years, they worked with multiple firms to manage these compliance initiatives, but the inefficiencies of handling various providers testing the same controls began to take a toll on their internal resources. The company realized that a more streamlined, efficient solution was necessary; one that would allow them to meet their compliance obligations while improving security and reducing the time and effort spent on audits.

FD’s Approach

FD proposed an integrated compliance strategy under our Consolidated Compliance Assessment Program, applying our “Test Once, Report Many” methodology. Our team harmonized multiple frameworks using a centralized assessment platform, allowing overlapping controls, initially between SOC 1, SOC 2 and PCI DSS, to be audited once and reported across all control sets.

After experiencing the efficiency of consolidating these assessments under one provider, they chose to bring their HITRUST work to FD as well.

Results: A Streamlined Approach to Compliance

  • One Provider, Reduced Effort: By consolidating SOC, PCI and HITRUST assessments under FD, the company eliminated the inefficiencies of managing multiple assessors, reducing internal resource strain.
  • Cost and Time Savings: Our “Test Once, Report Many” approach reduced audit redundancies, cutting down on costs and time spent on annual assessments.

By partnering with Frazier & Deeter, the company transformed its compliance strategy, resulting in greater efficiency, cost savings and quality assurance. By consolidating compliance efforts under a singleprovider, the company eliminated the inefficiencies of managing multiple auditors testing the same controls. This comprehensive approach not only streamlined their annual audit cycle but also allowed their internal teams to focus on higher-value initiatives rather than repetitive audit preparation. Additionally, they benefited from deeper insights into risk areas through FD’s integrated testing methodology, enhancing both their compliance posture and overall security readiness.

Ready to Simplify Your Compliance Process?

If managing multiple compliance frameworks is straining your resources, our “Test Once, Report Many” approach can help. Contact us today to learn how we can optimize your compliance strategy and improve your security posture.

Contributors

Mindy Milliet, Advisory Partner

Andrew Hicks, Advisory Partner

Gina Gondron, Advisory Partner

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