Many business leaders struggle to efficiently respond to risk and compliance needs because of the complex regulatory landscape, ever-evolving risk scenarios and inconsistent internal processes. It’s only been more recently that organizations have embraced enterprise integrated risk management (IRM) tools to overcome a siloed approach of managing risk and compliance data.
The advent of these tools has brought people, processes and data closer, resulting in enhanced operational efficiency and governance. Enterprises aspire to get a holistic view of the risk and compliance posture of their organizations. IRM tools facilitate this by providing persona-specific context around data.
And, the right data at the right time is essential for business managers to make risk-aware decisions. However, a manager trying to evaluate a technology also must be aware of a technical weakness. It is critical for system criticality, upstream and downstream process information to be available in order to accurately assess the risk. For example, two similar databases with similar vulnerability (one containing personally identifiable information data and the other containing transaction logs) will have very different regulatory risk impact.
Today’s advanced technologies can provide the necessary efficiencies in the IRM space by supplying deeper insights into its existing data. Learn more about which specific technologies can provide positive advantages.
Integrated Risk Management and Modern Tech
IRM solutions rely on data points provided manually or captured from external data sources. IRM solutions are integrated with multiple third-party tool sets to achieve specific objectives and derive maximum value. Examples include the integration of a vulnerability management tool to gather weakness to IT assets or the integration of security information and event management (SIEM) to handle cybe ..
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