The Advantages of EdTech Compliance for Schools and Providers

Key points:

The educational technology sector is booming. Rated at <a target="_blank" href="https://www.globenewswire.com/news-release/2024/10/29/2970837/28124/en/edtech-Market-Forecast-Report-2024-2029-Learning-Management-Systems-LMS-Providers-such-as-Canvas-by-Instructure-Moodle-Blackboard-and-Schoology-Dominate-the-Market.html” target=”_blank” rel=”noreferrer noopener”>334.2 billion dollars in 2023, it is projected to grow 14.13 percent annually to reach $738.6 billion in 2029. Schools are increasingly adopting technology solutions that improve learning outcomes and simplify administrative tasks, from e-learning platforms to teacher scheduling apps and parent communication tools.

But with great technology comes great responsibility. Demonstrating that you can protect data is no longer optional. In education, where safeguarding children's privacy is paramount, data security is a seal of quality and trust.

Transparent, third-party validated security practices can give schools peace of mind when choosing the right vendors. For technology companies, thanks to modern advancements, developing programs to meet these needs has never been easier, allowing them to gain a competitive advantage with better data security practices.

Modern compliance is a frictionless process for educational technologies

Managing a compliance program was not always seen as an advantage for technology companies. It was considered an onerous task that went against the best interests of a company: auditors were often perceived as judges who detected flaws rather than extolling good qualities and looking for improvements. But current compliance processes are far from this notion, thanks to a better understanding of technology companies and better auditing tools.

Modern compliance, especially when referring to SOC 2 reporting or certifications like ISO 27001, helps suppliers keep your needs in mind first and foremost. For example, auditors now use governance, risk and compliance (GRC) tools that plug into a company's technology stack to monitor compliance practices and suggest improvements.

These programs reduce the need for endless questionnaires and business interruptions, as compliance processes run in the background instead of through endless paperwork. Auditing has also become more asynchronous, allowing companies to continue operations as usual and meet with auditors as needed throughout the process.

This highly technological and simplified approach also gives auditors more time to discuss companies' concerns, preferences and expectations, allowing them to gain a deep understanding of what each organization wants to achieve in compliance. As a result, auditors conduct more specific and personalized audits, providing companies with practical advice to improve their operations rather than highlighting their weaknesses.

Compliance Makes Background Investigations Easier for Schools

Complying with regulations can be a great business enabler by optimizing the research process for schools. These institutions, like any other organization looking for providers, carefully evaluate their options to ensure that services are safe and meet their standards.

SOC 2 and related reports help vendors demonstrate their security posture in an easy-to-read document that includes different testing criteria, areas for improvement, and an auditor's assessment of company practices. This carefully organized document answers many of the security questions a school might have, avoiding the usual security questionnaire step in favor of this comprehensive report.

Early Adoption of Compliance Gives Suppliers a Competitive Advantage

Complying with regulations isn't necessarily on every tech founder's priority list: they may first have an MVP to finish, investors to attract, and a customer base to secure. However, adopting early compliance has benefits that will make significant differences for providers in the future. Implementing it as soon as possible is the best time to start.

Infusing compliance from the beginning will strengthen the foundation of a product or service, encoding data security into every aspect of its operation. From the way engineers develop software to how service contracts are written, security will permeate every corner of a vendor's offering.

Early adoption also means that compliance and security are integrated into company culture, placing efforts such as employee training and risk management strategies at the center of the company's mission and values.

As such, a vendor's commitment to data security will be etched into everything it does, giving investors and customers confidence that the company takes data security seriously. For an industry as regulated as education, this reliability is a significant competitive advantage that stands out when schools choose their applications and software.

As schools continue to invest in technology, it can be expected that additional resources will be focused on properly vetting vendors to safeguard student privacy. Modern compliance is playing a crucial role in keeping threats at bay and helping businesses demonstrate their commitment to security. Today's audits meet technology companies where they find technological tools to determine their security practices and facilitate them in the investigation process, which ultimately streamlines the negotiation, giving schools peace of mind and providers a clear advantage competitive.