Startups are innovative, creative, and willing to take risks. But you shouldn’t take communications compliance risks.
As industries evolve, communications compliance risks change. This generally happens as new technologies arise, and as laws and regulations are amended.
It’s important that communications compliance risks are managed proactively. Failing to do so can lead to major fines and reputational damage.
The communications compliance risks facing startups are diverse. But, there are a few overarching trends that are likely to emerge over the next few years.
So, what do communications compliance risks look like for startups in 2023?
1. Increased use of encryption
Encryption is something that has grown more mainstream over the last few years. It’s used by everyone from mobile messaging operators to big corporates.
In 2023, it’s likely that encryption will become even more important to startups and smaller companies that handle sensitive or personal data.
Because encryption makes it easier to keep data protected, secure, and handled legally. It also reduces the risk of security breaches.
Many communications companies, such as WhatsApp, already encrypt messages by default.
However, some startups and smaller companies may not have this in place yet.
So, 2023 could be the year that encryption becomes a crucial communications compliance risk for some organizations.
2. Increased demand for cloud services
Even as recently as 5 years ago, the idea that firms would use cloud services would have been met with skepticism.
Today, cloud services are widely accepted and many companies use them for their communications needs.
In 2023, it’s likely that demand for cloud services will increase.
Increased demand for cloud services is down to two factors.
Firstly, most startups and small to medium-sized companies don’t have their own communication infrastructure. As such, they typically subscribe to cloud services.
Secondly, the communications space is changing. Many communications companies are moving towards providing communications as a platform.
This means they are outsourcing infrastructure (such as storage and messaging) to their users. As such, it’s becoming increasingly likely that firms will outsource their communications needs.
3. Increased regulatory scrutiny
In 2023, it’s likely that communications compliance will become even more important. This is because communications compliance regulations are evolving.
As communications technologies change, so do communications compliance regulations.
In 2023, it’s likely that communications compliance regulations will continue to evolve.
Most relevantly, there’s likely to be an increase in regulatory scrutiny of communications data, stored by communications companies.
This is because regulators are increasingly likely to take the view that communications data is personal data.
As communications technology evolves, communications compliance regulations are likely to follow. And, firms that don’t keep their communications compliance risks under control are likely to suffer.
4. Increased demand for communication archiving
Archiving communications data is becoming increasingly important.
Regulatory scrutiny means that firms must keep communications data (such as text messages and email) for a specified period of time.
As such, there’s likely to be an increase in demand for communication archiving in 2023.
Implementing an effective communications archiving solution can help firms meet their compliance obligations.
For example, cloud-based archiving software enables communications data to be archived in seconds. This means firms can archive communications data more efficiently and cost-effectively.
5. Changes in communications infrastructure
In 2023, it’s likely that communications infrastructure will become more mobile.
As more companies move to the cloud, they’ll use cloud-based communications.
As such, it’s becoming increasingly important for businesses to have communications infrastructure that can move with them.
For example, it’s becoming increasingly common for businesses to have the technology for mobile messaging, video conferencing, and remote collaboration.
6. Increased demand for social media monitoring
Social media monitoring is becoming increasingly important for communications compliance.
This is mainly down to the fact that social media is increasingly being used for business purposes. As such, firms need to ensure that they are complying with communications regulations.
For example, many firms use social media as a marketing and PR tool. As such, they need to be compliant with communications regulations that cover the use of these channels.
7. Increased risk of data breaches
In 2023, it’s likely that there will be an increase in data breaches.
As more companies move to the cloud, there’s likely to be an increase in cyber attacks. Likely, these cyber attacks aim toward communications data.
As such, it’s becoming increasingly important for communications companies to have appropriate security measures in place.
It’s important to understand communications compliance risks. Failing to do so can lead to major fines and damage to your reputation.
So, when it comes to communications compliance risks, startups need to prepare.
Implementing measures such as encryption and archiving communications data now can help startups and smaller companies avoid communications compliance risks in the future.