GRC Software for Business Visibility of your Cyber Risk
WCK GRC software provides holistic coverage for all your risk management challenges - cyber security, IT, physical and critical infrastructure protection.
Get clear visibility of your detailed risk posture. In business language and metrics that management can understand. You get a prioritized remediation plan, so you focus your improvement efforts where it counts the most, on your company‘s crown jewels.
Our risk and compliance solution was designed to deliver quick value within weeks.
Improving Governance, Risk and Compliance Processes
The Cyber Risk Landscape
These days, the sheer quantity of cyber attacks is gigantic and growing daily. For example, the US Department of Energy alone endures 10 million hacks per day; the United Kingdom recorded 44 million known cyber-attacks last year on British companies. The worldwide cost of cyber-crime is running in the trillions of dollars annually.
In parallel, corporate IT is becoming increasingly complex and dynamic. In the past few years, we have witnessed the adaption of social applications, cloud & SaaS systems, mobile computing for smartphones and tablets,outsourcing, to name just a few of the latest trends.
These rapid changes in the world of IT coincide with the boom in cyber threats. Together, these two factors have resulting in a significant increase of business’s vulnerability.
The ‘Big Data’ Challenge of Governance, Risk & Compliance Management
So how do organizations cope with these twin challenges, the emerging cyber threat landscape in a shifting computing environment?
Companies typically respond in two ways. In order to protect themselves and to comply with a growing set of regulations and standards, organizations perform numerous reviews, audits, and penetration tests, all of which generate large quantities of findings. In addition, companies purchase multiple security point solutions such as vulnerability scanners and SIEM systems which, in turn, collect large amounts of suspicious events and risks.
In total, the combined data from audit activities and security point solutions createtens of thousands (and more!) of findings which companies need, somehow, to process. The big-data challenge is how to assess all these piles of data from diverse systems, with different ratings and parameters.
It is cumbersome and inconvenient to manage such complex risk management processes using spreadsheets, and it is virtually impossible to see a total picture of risk and compliance. Excel-like solutions are inadequate, not only due to the large amount of data involved, but the underlying absence of real risk analytics and business-insight.
The ideal risk management software should provide companies with -
WCK GRC Software Risk Dashboard
- a clear picture of their total risk that relies on the correlation, analysis and aggregation of all the technical findings and how they affect critical business services and processes
- a plan of improvement and remediation that prioritizes investments and mitigation based on business needs and criticality
- and last but not least, implementation in a reasonable time frameand easy, ongoing operation and changes.
GRC tools has evolved to handle these risk management and compliance challenges. Here are some of the important qualities to look for in a practical GRC solution that can truly improve your risk, compliance and governance processes.
GRC Software Must Correlate Between Business Objectives & Processes To Technical Findings
Some GRC tools are quite generic, and are not able to incorporate detailed technical findings, whileothers support technical depth, but do not understand business processes and organizational needs.
Both perspectives are needed. GRC systems serve multiple risk stakeholders. For instance, the CISO (Chief Information Security Officer) wants to know which servers are most vulnerable to cyber risk, while the board is concerned about how cyber risk can affect its critical business services.
So GRC software must be able to map and analyze the relation between detailed findings and IT assets to critical processes, organizational units and business priorities. Good GRC software must bridge the gap between the language of IT and the language of business. The right GRC tools provide both a top-down and bottom-up point of view. Management needs tools so they can perform root-cause analysis from high level risk to the specific risk discovered.
GRC Software to Provide Risk Analytics
Some GRC tools are glorified Excels with a database. Good compliance&enterprise risk management software should provide in-depth risk analytics and be able to correlate, aggregate and assess risks and vulnerabilities. It should analyze dependencies in order to understand how a specific risk might cascade across the organization and affect a critical business process.
GRC Software To Manage Risk for Any Type of Asset
The ideal GRC software tool manages risk and compliance for any type of asset. That’s because your organization most likely wants to manage risk from different viewpoints. These would include:
- organizational assets such as regions, divisions, services, business processes
- IT assets such as systems, applications, components
- Control Systems and physical devices such as SCADA, pumps, manufacturing cells
GRC Software To Manage Risk from Multiple Risk Sources
Risk and compliance management software is much more than audit management software.
Besides assessing risks discovered in audits and reviews, it should easily handle risks from both manual and automated risk sources including security point solutions such as: event management systems (ex. SIEM), network vulnerability scanners, application scanners, penetration tests,and so on. It needs to be able to easily import legacy risks and findings that the organization has accumulated, usually in spreadsheets.
In fact, enterprise risk management ERM software and GRC software should integrate seamlessly with both 3rd party enterprise solutions such as: CMDB, task management, event management, as well as security software solutions.
GRC Software Should Focus on Remediation Workflow
The ultimate goal of GRC systems is to improve an organization’s risk and compliance status and reduce its exposure.
Quite often, GRC systems focus on providing visibility into risk and compliance, but neglect theongoing process of mitigating the risks and problems discovered. Risk mitigationis a process that usually involves multiple stakeholders, which calls for a clear and comprehensive risk remediation workflow thatensures that tasks are assigned via email, that alerts, reminders and escalations are automatically sent, and that the risk and compliance process is continually being updated as risks are being mitigated.
GRC Software Should Support Multi-Policy Compliance
Organizations almost always need GRC software that can support multiple regulations, standards and policies a clever way.
For example, different regions usually have different regional regulatory requirements.
And even if you manage your internal governance with a single policy, you need to be able to apply it differently to different assets. You would need a different policy for applicationsin a manufacturingline where availability is critical, vs. policy for an HR applcationwhere confidentiality is of the upmost importance. Obviously, you need a different set of controls for a server in an on-premise vs. a cloud environment. So it is essential that compliance and governance software support multiple, adaptable and flexible policies in an easy and automated way.
GRC Software Must be Easy to Implement and Simple to Use
Governance, risk and compliance software is often criticized as being too long and difficult to implement, and unwieldy to use. Some GRC tools require a big modeling project that takes considerable time and effort (and external consultants!) to customize so that the platform meet’s the organization’s needs.
Find GRC software that is ready-to-go without customization, and that ais modular and scalable. That can ‘think big, but start small’ and can grow incrementally in the organization. For GRC to be successfully implemented, it has to have an intuitive flow and look and feel and support GRC workflows.
Always Consider ROI and Total Cost of Ownership besides Software License Costs
The goal of GRC tools software is not just to improve an organization’s risk posture but do make its internal risk processes more efficient and less reliant on expensive external consultants. So when comparing costs, make sure to consider the total cost of both licenses, as well as the time and effort it will take to implement the GRC software, and adapt it to your company’s needs.