Business is about risk taking and managing risk. In a decentralized operation, lines of business may bring their own style and approach towards managing risk and compliance. This is often necessary due to location specific regulations & risks. Addressing risk in a decentralized manner often result with data managed and stored in silos, lack of real time visibility into the enterprise wide risk and compliance posture to aid strategic decisions.
Why risk tomorrow?
ComplyScore Enterprise Governance, Risk and Compliance (GRC) solutions assist organizations achieve their strategic objectives of gaining a centralized and unified view into their compliance, risk and control environments via modular, easy to configure solutions.
FEATURES & BENEFITS
ComplyScore's Risk Management software solution enables organizations to identify, document, assess enterprise risks, define and test controls, implement recommendations and remediation plans. Manage risk at enterprise, division,department, process or sub-process level
"ComplyScore's Compliance Update Management Solution provides organizations with a clear, concise view of updates from various regulatory bodies.
By routing relevant and applicable changes in regulations to lines of business or functional owners, ComplyScore system assists with documenting the entire 'impact analysis' process, that may result into policies and procedural changes to drive employee compliance training and attestation efforts "
ComplyScore's Policy and Procedure Management Solution helps organizations maintain and automate the policy and procedure lifecycleby ensuring that the most current and approved policies are published to to internal and external stakeholders. Enabling a collaborative environment for stakeholders during the review and approvals process, allow for significant savings with time and money.
ComplyScore's Information Security Solution Set includes software solutions and services to help organizations engineer a robust cyber defense program. The solution supports all facets of IT governance including Risk Assessments, Control Monitoring, Incident Management, Network Monitoring and Network Traffic Analytics.
ComplyScore’s Vendor Governance solution helps organizations streamline the Vendor Management Program across the vendor engagement life cycle including Due Diligence, Onboarding, Contract Performance Tracking, Risk Assessments, Issues and Remediation steps.
Ensure vendor compliance with regulatory and organizational requirements while reducing costs and complexity in managing the program.
Organizations are looking to move away from traditional methods of managing risk and compliance processes on excel spreadsheets, email and other disparate use case specific tools, with the objective of achieveing a integrated, view of risk and compliance intelligence that aids strategic decisioning, board reporting and optimized utilization of available resources.
Many organizations continue to manage their GRC processes using conventional methods like excel spreadsheets, sharepoint etc that require significant manual efforts to maintain. However in a global scenario, this approach leads to a decentralized view and limited or no visibility into the risk and compliance posture across the board.
With cybercrimes becoming increasingly sophisticated, implementing a strong cyber defence mechanism has become an imperative objective, with the aim of protecting all organizational asset information from data breaches.
Organizations typically function in specialized silos that often result in process specific data residing in decentralized storage sites. Due to lack of visibility and GRC intelligence, risk, complaince and audit related processes become repetitive and are duplicated during execution of the program objectives
Organizations are confronted with a growing regulations, guidelines and standards, from GLBA, FCPA, ISO 27001, AML, PCI-DSS, COBIT, NERC-CIP, EPA, HIPAA, Hi-TRUST, NIST, CSA FDA, OCC, FDIC, NCUA, Basel etc. each requiring review on applicability and impact on business and product lines. The ability to direct regulatory guidance to the relevant stakeholders in a streamlined fashion, communicate downstream impact ensures reduced ineffencies in achieving a risk informed and compliant infrastructure.