Key points:
The edtech sector is booming. Valued at $334.2 billion in 2023, it’s projected to grow 14.13 percent annually to hit $738.6 billion by 2029. Schools are increasingly adopting technological solutions that enhance learning outcomes and simplify administrative tasks–from eLearning platforms to teacher scheduling apps and parent communication tools.
But with great tech comes great responsibility. Demonstrating you can protect data is no longer optional. In education, where safeguarding children’s privacy is paramount, data safety is a hallmark of quality and trust.
Transparent and third-party validated security practices can provide schools peace of mind when choosing the right vendors. For tech 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 safety practices.
Modern compliance is a frictionless process for edtechs
Managing a compliance program wasn’t always seen as an asset for tech companies. It was deemed a burdensome task that went against a company’s best interests–auditors used to be perceived as judges who spot flaws rather than exalt good qualities and seek improvement. But today’s compliance processes are far from this notion, thanks to a better understanding of tech companies and improved auditing tools.
New School Safety Resources
Modern compliance, especially when referring to SOC 2 reports or certifications like ISO 27001, supports vendors by keeping their needs in mind first and foremost. For example, auditors now use governance, risk, and compliance (GRC) tools that connect to a company’s tech stack to monitor compliance practices and suggest improvements.
These programs reduce the need for endless questionnaires and business interruptions, as compliance processes are running in the background rather than through endless paperwork. Auditing has also become more asynchronous, letting companies continue their operations as usual and meeting with auditors as needed throughout the process.
This highly technological and streamlined approach also gives auditors more time to discuss companies’ doubts, preferences, and expectations, allowing them to gain a deep understanding of what each organization wishes to achieve with compliance. As a result, auditors run more purposeful and tailored audits, giving companies actionable advice to improve their operations rather than highlight their weaknesses.
Compliance makes vetting easier for schools
Becoming compliant can be a massive business enabler by streamlining the vetting process for schools. These institutions, just like any other organization looking for vendors, evaluate their options with a magnifying glass to ensure 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 of improvement, and an auditor’s assessment of company practices. This neatly organized document answers many of the security questions a school might have, bypassing the usual security questionnaire step in favor of this comprehensive report.
Early compliance adoption gives vendors a competitive advantage
Becoming compliant isn’t necessarily on every tech founder’s priority list–they might have an MVP to finish, investors to attract, and a customer base to secure first. However, there are benefits to adopting compliance early that will make significant differences for vendors down the line. Implementing it as early as possible is the best time to start.
Infusing compliance from the beginning will strengthen a product’s or service’s foundations, codifying data safety in every aspect of its operation. From the way engineers develop the software to how service contracts are drafted, security will permeate every corner of a vendor’s offering.
Early adoption also means compliance and security are built into company culture, placing efforts like employee awareness training and risk management strategies front and center in the company’s mission and values.
As such, a vendor’s commitment to data safety will be engraved in everything it does, giving investors and clients the confidence that the company takes data safety seriously. For an industry as regulated as education, this trustworthiness is a significant competitive advantage that shines through when schools choose their applications and software.
As schools continue to invest in technology, additional resources can be expected to focus on properly vetting vendors to safeguard student privacy. Modern compliance is playing a crucial role in keeping threats at bay and helping companies prove their commitment to safety. Today’s audits meet tech companies where they are with technological tools to ascertain their security practices and ease them into the vetting process–ultimately streamlining dealmaking, giving schools peace of mind and vendors a clear competitive advantage.
