Manage IT GRC Related Issues with IT Compliance and Security Solution by eGestalt

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									Manage IT GRC Related Issues with IT Compliance and Security Solution


GRC is defined as “an integrated, holistic approach to organization-wide GRC ensuring that
an organization acts ethically correct and in accordance with its risk appetite, internal
policies and external regulations through the alignment of strategy, processes, technology
and people, thereby improving efficiency and effectiveness." This aptly summarizes the true
essence of GRC.

Governance, risk management, and compliance or simply GRC received widespread
attention with the enactment of US Sarbanes-Oxley Act (SOX). When major corporate and
accounting scandals rocked the American economy, the federal government was forced to
enact SOX to ensure the accuracy of financial information. However, today the focus of IT
GRC is not limited to ensuring SOX compliance alone but to enhance business performance
through improved decision-making and strategic planning.

Businesses require accurate, complete and timely information to make informed, efficient
business decisions. Usually teams entrusted with the responsibility of implementing the
various GRC processes and functions work in silos leading to lack of coordination and
communication between the teams. This communication gap results in the failure of
effectively capturing the true state of affairs, which in turn prevents the initiation of any
corrective action.

Technology can help optimize the performance, address all the enterprise needs around
security, compliance, and risk management and provide automation and integration of
policy controls to manage security and IT GRC related issues. The combined solution of
security monitoring with IT Governance, Risk Management and Compliance management
software monitors on a 24 X 7 all activities of the users, both insiders and outsiders to make
a quick and meaningful analysis of the impending threat. Below are the key advantages of IT
compliance and security solution.

·     Advanced compliance scanning function scans and integrates compliance related
information from various sources
·     Built in Framework support for RBI Compliance, NSE, BSE, MCDEX, PCI, ISO, COBiT,
SOX, BASEL II, HIPAA, FISMA, and other country specific frameworks which are ready to
use
·     Centralized repository for compliance related organizational data
·     Complete End-to-End automation of all your security, compliance, audit, and risk
management needs
·     Cost-effective with up to 10x total cost of ownership reduction
·     Fine-grained access control through a secure Web based interface
·     Provides 'Software as a Service' (SaaS) model with on-premises deployment or a
completely on-demand cloud based service, requiring very low initial investment with high
returns also ideal for small and medium businesses
·     Monitors and enforces best practices and standards quickly and easily
·     Provides an exhaustive audit trail for all compliance related actions through the whole
process
·     Simplifies and reduces the time required for regulatory compliance and the
certification process

Thus, with the IT compliance and security solution, enterprises can drive consistency,
efficiency, sustainability and transparency in GRC management processes throughout the
organization.


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