“Connected reporting capabilities, control testing, real-time collaboration, cloud-based access, stringent security measure and permissions controls” are considered the leading factors behind CFGI offering Workiva to its clients.
In a move to provide its SOX and GRC clients with a tool that will modernize their compliance reporting and management, CFGI, a US-based high-end technical accounts, risk management, and finance advisory services organization, has entered into a partnership with Workiva.
Beyond the ability to access and collaborate with CFGI remotely, users will also benefit from the customizations that CFGI has integrated into the product that facilitate the process and guide the client to accurately complete reporting.
In the high-end financial risk advisory and compliance space, specialization in the GRC market is required to support the specific needs of clients who face not only Sarbanes-Oxley rules but dozens of global financial and banking regulations. As compliance requirements continue to drive enhanced reporting and controls, market segmentation will likely continue.
Source: SoftwareReviews GRC Data Quadrant, Accessed May 13, 2020.
Governance, risk, and compliance (GRC) vendors will need to distinguish themselves in the market. New methods of providing value, either through the introduction of machine learning and AI capabilities that assess and evaluate incoming data streams (vulnerability input, compliance, etc.) or through vendor collaboration with value-add services such as CFGI and Workiva, set products apart from the pack. This form of collaboration is another way to improve market penetration.
In recent years, another source of differentiation has been the coupling of GRC with enterprise solutions. An example of this in the financial space is SAP. Oracle has also integrated GRC with its enterprise solutions and in the information service management systems (ISMS) space, and ServiceNow has included its GRC as part of its offering.
GRC is not the sexy toy in the IT software basket, and therefore it must find new ways of adding value and reaching new markets in order to expand market share.
By exploiting a five-year-old configuration error, a hacker was able to access Amazon’s S3 cloud storage buckets on which Twilio’s code was loaded. As a result, customers were able to unknowingly download the modified code for twenty-four hours.
Qualys VMDR and Ivanti have announced a new partnership dedicated to improving the detection and patching of vulnerabilities. Announced July 30, the Qualys and Ivanti Partnership have already gone live as an integrated component of the VMDR solution.
IBM is changing the terms of its ubiquitous Passport Advantage agreement to remove entitled discounts on over 5,000 on-premises software products, resulting in an immediate price increase for IBM Software & Support (S&S) across its vast customer landscape.
RiskSense announced on July 13 its new version of the cloud-delivered RiskSense risk management platform. The main draw of the program is its holistic risk calculation across CVEs and CWEs.
Cyberthreats are omnipresent for any enterprise. Monitoring ingress and egress points while still conducting business is a balance security professionals attempt to strike. Couple this with the continued security issues around remote work during the pandemic, and security teams have their hands full.
Navigating the vendor risk management space, particularly in the current environment that consists of a mix of cloud, managed services, and critical supply chain, is key to ensuring that you don’t inadvertently introduce new risks through this dynamic channel.
On May 26, Kenna Security released its new Prioritization to Prediction Benchmark Survey. This free tool provides organizations with the ability to compare their vulnerability management programs to industry averages Kenna Security has compiled over the years.
COVID-19 has changed a great deal about how businesses operate. From a security perspective, however, COVID-19 caught many businesses off guard. The shift from working in the office to working from home has made it difficult for security measures to keep pace. Specifically, how are businesses meant to maintain the same secure networks when their employees are no longer working in the office? Outside of the security of the IT departments, IT and security have a tough time ensuring that patching and vulnerability management remain at the forefront of a business’s priorities.
From employee management through leadership and communication, increased cyber threats, logistics and operations to post-pandemic planning and risk mitigation, the threat landscape has experienced enormous change. These noticeable shifts force us to consider rethinking and retooling how we address risk.