Because of incidents, dependence on supply chains, and the increasing interconnectedness of companies, boards are demanding better risk and compliance.
Atlanta, GA (PRWEB) February 11, 2015
At a time when organizations are increasingly embracing digitalization, associated risks and cyber threats have accordingly increased as new forms of data are created. This makes Governance, Risk & Compliance (GRC) a necessity for organizations who deal with sensitive information such as customer data. To offer better guidance on how next generation security officers can navigate these complex issues, Modulo announced today a podcast interview featuring International Managing Director Stephen Gant.
In Enterprise Management 360º interview entitled, “GRC- Dealing with Today’s Data Minefield,” Gant addresses the following issues:
- The biggest challenge this year for companies trying to achieve better GRC: The dependence on spreadsheets for compliance and risk reporting – particularly in large organizations that span many countries, have large supply chains, and deal a lot with third parties – is dramatically increasing the need for automation. Driven by corporate boards who are asking for better risk and compliance reporting, as well as the risks associated with reliance on third-party SaaS providers, next generation security officers need visibility into risk and compliance across the entire organization.
- The landscape for governance and risk management solutions as it pertains to security and digital risk: Recent high-profile attacks – with breaches in places like Sony, Home Depot and Target – are driving the realization that there's a need to understand what risks a company is actually incurring within their digital infrastructure. Without a risk framework, companies are going to struggle with this notion of “how do I measure it” and “what do I do?” in order to make decisions at the board level as to how much they want to spend to mitigate these risks. A risk framework also helps organizations prioritize and keep up with their compliance reporting needs.
- How automated GRC solutions specifically benefit organizations: What GRC products do is automate the process of collecting the relevant data and then more importantly, provide a way to instantly create snapshots to see whether or not the key risk indicators that you're dealing with are actually where you want them to be. For most organizations today who are dealing with third parties, thousands of IT assets, thousands of inter-connected supply chains and other organizational assets - they simply can't do this with spreadsheets and that’s why it’s critical to have GRC automation solutions. We sponsored an independent study on the return on investment for organizations that run GRC on spreadsheets versus actually implement a product like Modulo’s. The ROI is pretty strong, outside of just the benefits of easier reporting, automated reporting and so forth. With automated solutions they can understand the data almost instantaneously versus once a year. They want to know today what the state of their risk or security is because that’s the speed of business that we’re moving at.
“Because of incidents, dependence on supply chains, and the increasing interconnectedness of companies, boards are demanding better risk and compliance,” concluded Gant, a thought leader with extensive experience in information security, virtualization, software and communications.
The interview, hosted by independent IT executive resource Enterprise Management 360°, is available at: http://modulo.com/company/resources/podcasts/ or at enterprisemanagement360.com/podcast/grc-dealing-todays-data-minefield/
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, Yale New Have Health Systems, Synovus Financial, and Santander. Modulo has earned industry recognition as an Innovator of the Year from SC Magazine for three years in a row (2014, 2013, 2012) as well as “5-Star” review ratings four consecutive years (2014, 2013, 2012, 2011) and “Best Buy” (2014, 2012, 2011) by SC Magazine.
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