Austin TX (PRWEB) August 29, 2007
Compliance Spectrum, a leading provider of IT governance, risk, and compliance (GRC) solutions today announced that it has joined the Payment Card Industry Security Vendor Alliance (PCI SVA). As a member, Compliance Spectrum will partner with member companies to educate the business community on the requirement and associated business value of the Payment Card Industry (PCI) Data Security Standard.
PCI DSS is an important standard that benefits consumers by mandating the protection of personally identifiable data (PID). Implementing PCI DSS provides merchants with a powerful way to assure their client base that their data will be protected throughout the payment card transaction process including the storage of that information.
Major credit card companies are pushing hard to stop the financial fraud incidents that have affected numerous organizations and their consumers. Consequently, organizations that accept payment card transactions are duly bound to comply with PCI DSS by end of 2007.
"There is definitely an increase in the number of global customers who are implementing the PCI security standard and seeking tools to automate the compliance process," said Chrisan Herrod, Executive Editor of IT Compliance Magazine (http://www.itcmonline.com). "Companies are implementing these standards because the consequences of non-compliance are substantial - organizations risk not being allowed to handle cardholder data and fines of up to $500,000 if the data is lost or stolen."
To assist companies in their preparations for implementing PCI DSS, Compliance Spectrum has developed a PCI version of their IT GRC product--Spectra. Spectra for PCI includes an automated version of the PCI framework that maps the requirements of the framework against a company's existing IT controls and identifies where gaps and vulnerabilities exist. This dramatically reduces the cost of consulting services required to manually identify those gaps and vulnerabilities, and provides an organization with the ability to rapidly address issues in preparation for audits and meeting the end of year deadline for compliance.
About the PCI Software Vendor Alliance
PCI SVA assists members of the payment card industry, composed of merchants, banks, point-of-sale vendors, in educating the business community on the requirements and business value of the Payment Card Industry (PCI) Data Security Standard, a global benchmark intended to improve security throughout the entire payment card transaction process.
To learn more about PCI SVA, and apply for membership, visit the Security Vendor Alliance website at http://www.pcialliance.org.
About Compliance Spectrum
Compliance Spectrum offers commercial IT governance, risk and compliance software solutions that empower highly regulated and complex organizations to address the complete lifecycle of compliance. Compliance Spectrum's flagship product, Spectra, provides an automation framework that streamlines the compliance process, lowering the cost of compliance while reducing the business risk of non-compliance. Compliance Spectrum has won numerous industry awards for its first generation product, Command Center. The company is headquartered in Austin Texas with offices in Houston, San Diego, Fairfax Va., and London England. For more information, visit http://www.compliancespectrum.com.
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