The Federal Information Security Management Act (FISMA), enacted in 2002 and updated in 2014, mandates information security requirements for U.S. federal agencies and their contractors, ensuring the protection of government information and systems.

Why It Matters:

• Mandatory for Government Business: If your software serves or plans to serve U.S. federal government clients, FISMA compliance is absolutely mandatory. Without it, you cannot bid on or secure contracts.
• NIST Alignment: Requires documented and implemented security controls aligned with the National Institute of Standards and Technology (NIST) frameworks, particularly NIST SP 800-53. This standard provides a robust catalog of security and privacy controls.
• Continuous Monitoring: Emphasizes continuous monitoring of information systems and incident response capabilities, reflecting a proactive approach to security.
• Complex Implementation: Achieving FISMA compliance opens doors to lucrative government contracts but requires significant investment in security governance, risk management, and the implementation of specific technical and administrative controls.

FISMA typically involves a multi-tiered authorization process, with different levels of controls required based on the sensitivity of the information handled.

The Payment Card Industry Data Security Standard (PCI DSS) applies to any organization processing, storing, or transmitting credit card information, designed to ensure that all companies that process, store, or transmit credit card information maintain a secure environment. 

Why It Matters:

• Avoid Fines and Penalties: Non-compliance risks severe fines from payment brands, potential data breaches, and the ultimate loss of payment processing privileges, which can cripple a business.
• Broad Applicability: Applies beyond traditional e-commerce to SaaS platforms with payment integrations, recurring billing, or those that store any form of credit card information (even if tokenized). If your software touches cardholder data, PCI DSS is relevant.
• Mandatory Controls: Specifies 12 core requirements, categorized into controls around building and maintaining a secure network, protecting cardholder data, maintaining a vulnerability management program, implementing strong access control measures, regularly monitoring and testing networks, and maintaining an information security policy.

For software companies handling payments, PCI DSS is a critical certification to maintain customer trust, protect sensitive financial data, and ensure operational viability within the payment ecosystem. Compliance is typically assessed annually through a Self-Assessment Questionnaire (SAQ) or a formal audit by a Qualified Security Assessor (QSA), depending on transaction volume.

The Federal Risk and Authorization Management Program (FedRAMP) is a U.S. government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services used by federal agencies. 

Why It Matters:

• Mandatory for U.S. Government Cloud Contracts: If your cloud-based SaaS platform aims to sell to any U.S. federal agency, FedRAMP authorization is mandatory. Agencies cannot use cloud services that are not FedRAMP authorized.
• Rigorous Security Standards: It is one of the most rigorous and comprehensive security certifications, requiring deep technical and administrative controls based on NIST SP 800-53, significantly more stringent than a typical commercial SOC 2.
• Lengthy Authorization Process: The certification process can be lengthy, often taking 6-18 months, so early planning is essential. 
• Signals High Security Maturity: Achieving FedRAMP authorization signals an exceptionally high level of security maturity, operational readiness, and continuous compliance, making it an impressive credential even for commercial clients.

FedRAMP comes in different impact levels (Low, Moderate, High) based on the sensitivity of the government data being handled. Many companies aim for a "Moderate" authorization as it covers the vast majority of government cloud applications.

The Health Information Trust Alliance (HITRUST) Common Security Framework (CSF) is a certifiable framework designed to help organizations in the healthcare sector manage risk and compliance. It integrates multiple healthcare and security standards and regulations, including HIPAA, ISO/IEC 27001, NIST, PCI DSS, etc.  into a single, comprehensive framework.

Why It Matters:

• Healthcare Industry Standard: Designed specifically for organizations handling electronic health records (EHR) and patient data (Protected Health Information - PHI). It has become the gold standard for security assurance in U.S. healthcare.
• Simplifies Compliance with Overlapping Regulations: By integrating various authoritative sources, HITRUST CSF simplifies the complex task of complying with overlapping healthcare-specific and general security regulations (e.g., HIPAA, GDPR, state privacy laws).
• Comprehensive Risk Management: Demonstrates a comprehensive, risk-based approach to healthcare data security and privacy, covering technical, administrative, and physical safeguards.
• Required by Healthcare Entities: Many healthcare organizations (hospitals, insurers, pharmaceutical companies) now require their third-party software vendors to be HITRUST CSF certified as a condition of doing business.

Healthcare software companies, health tech startups, and any organization processing, storing, or transmitting PHI benefit significantly from HITRUST certification when serving hospitals, insurers, or government health programs, ensuring that patient data is protected to the highest standards.