Gartner's 2014 CEO survey indicates that more than half of CEOs will have a senior digitalleader on their staff by the end of 2015 and Gartner sees the emergence of digital risk and the digital risk officer (DRO) starting in 2015.
Atlanta, GA (PRWEB) August 25, 2014
Modulo, a leading provider of technology governance, risk and compliance (GRC) solutions, today announced continued industry recognition and has been identified as a sample vendor in three of Gartner’s 2014 Hype Cycle Reports: "Hype Cycle for Governance, Risk and Compliance Technologies, 2014” (i), “Hype Cycle for Business Continuity Management and IT Disaster Recovery Management, 2014”(ii) , “Hype Cycle for Healthcare Provider Technologies and Standards, 2014” (iii).
Modulo is recognized in the following categories:
- IT Governance, Risk and Compliance Management (ITGRCM) in the Healthcare Provider Technologies and Standards report;
- IT Vendor Risk Management (ITVRM) and Business Continuity Management Planning (BCMP) categories (in the BCM and IT Disaster Recovery Management report);
- IT Risk Management Automation (ITRM), IT Vendor Risk Management (ITVRM) and Business Continuity Management Planning (BCMP) in the Governance, Risk and Compliance Technologies report.
“We believe being recognized by Gartner as a sample vendor in multiple 2014 Hype Cycle reports is a testament to Modulo’s adoption as a key vendor in core GRC use cases including IT Risk Management (ITRM), Vendor Risk Management (VRM) and Business Continuity Management Planning (BCMP) and we feel further reinforces the value of our solutions to our customers,” said Stephen Gant, Managing Director, International, Modulo.
He adds, “In addition, in 2014 we are experiencing strong growth in other core GRC use cases such as Operational Risk Management (ORM). In fact, we are seeing many of these customers evolving into the new generation CISO with oversight of digital risk from the perspective of governance across business units relying on IT, OT, physical infrastructure, and the Internet of Things.”
“Gartner's 2014 CEO survey indicates that more than half of CEOs will have a senior digital leader on their staff by the end of 2015 and Gartner sees the emergence of digital risk and the digital risk officer (DRO) starting in 2015. Digital risk is the management of risks for all forms of technology that create, store, transport, use and/or destroy digital information as part of digital business practices.”(iv)
Building on 30 years of providing risk and security solutions for enterprises with complex environments, the award-winning Modulo Risk Manager platform is recognized by customers worldwide for offering the most value in the market - including attractive pricing, rapid deployment with minimal services and customization, and demonstrably effective GRC solutions for security professionals. Modulo serves over 670 software customers with a focus on the Critical Infrastructure sector including Government/Defense, Energy, Oil & Gas, Finance, Communications & Telecom, Healthcare & Pharma, and Logistics & Transportation.
The Business Impact of IT Risk Management
As Gartner analyst Paul Proctor explains in the GRC report, “ITRM automation can improve an organization's ability to analyze IT risk, add business context to security assessments, support internal and external audits, and reduce compliance-reporting costs. Organizations can reduce compliance-reporting costs by applying ITRM automation to the management of written policy content, the assessment of process-oriented controls and the audit of technical configuration settings. The technology can make it easier for an auditor to evaluate IT controls, which should reduce the number of unnecessary audit findings.”
The Business Impact of Vendor Risk Management
According to Gartner analysts Gayla Sullivan, and French Caldwell and Christopher Ambrose in the same report, “VRM enables a shared understanding of the full risk exposure - both within the enterprise and between the enterprise and its service provider/IT supplier partners. Some industries, including banking, healthcare and telecom, have industry-specific regulations that mandate monitoring third-party supplier risk. Most other enterprises also face compliance pressures to improve VRM, because of Payment Card Industry (PCI) data, state-level and national data breach notification regulations, and other privacy regulations. For enterprise risk management purposes, it is important to have a thorough understanding of the risk to business performance from vendor performance failures and disruptions. Furthermore, business performance can be improved, because VRM can be a catalyst for improved vendor performance by identifying risks early and mitigating them through effective controls and process improvements. At a strategic level, a vendor can facilitate VRM when approached as a business partner.”
The Business Impact of Business Continuity Management Planning
“BCMP tools will benefit any organization that needs to perform a comprehensive analysis of its preparedness to cope with business or IT interruptions, and that needs to have in place an up-to-date, accessible plan to facilitate response, recovery and restoration actions. If used to its fullest potential, a BCMP tool can be used to enhance business operations and resilience outside of recovery and in areas such as HR management, business and IT re-engineering, and mergers and acquisitions,” commented Gartner analyst Roberta Witty in the GRC Hype Cycle.
About Gartner Hype Cycles
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Modulo is a leading global enterprise provider of technology governance, risk and compliance (GRC) management solutions. Hundreds of organizations around the world leverage the award-winning Modulo Risk Manager™ as a flexible and affordable approach to manage risk, compliance, and business continuity across the enterprise and extended enterprise of third-party relationships. Customers span the financial, healthcare, retail, manufacturing, higher-education, telecom, energy and government sectors and include BASF, BC Hydro, Commercial Bank of Dubai, Microsoft, New York University Medical Center, Synovus Financial, and Schlumberger. Modulo has earned industry recognition as both a 2012 and 2013 Innovator of the Year from SC Magazine, which also gave the company's products “5-Star” review ratings for three consecutive years.
Visit http://www.modulo.com and follow Modulo on Twitter @Modulo_Intl.
(i) "Hype Cycle for Governance, Risk and Compliance Technologies,” Published: 17 July 2014, Analyst(s): John A. Wheeler
(ii) “Hype Cycle for Business Continuity Management and IT Disaster Recovery Management, 2014,” Published: 22 July 2014, Analyst(s): John P Morency, Roberta J. Witty
(iii) “Hype Cycle for Healthcare Provider Technologies and Standards, 2014,” Published: 24 July 2014, Analyst(s): Barry Runyon
(iv) Innovation Insight: Digital Business Innovation Risk Will Bring About the Rise of the Digital Risk Officer," Published: 18 June 2014, Analyst(s): Paul E. Proctor | Earl Perkins | Andrew Walls.