Compliance Scorecard, a Governance-as-a-Service solutions provider created by MSPs (Managed Service Providers) for MSPs, has unveiled the latest version of its Compliance-as-a Service (CaaS) platform. The updated platform now includes advanced risk management tools, improved asset management capabilities, and new compliance reporting methods designed to help MSPs strengthen their cybersecurity service offerings and unlock new revenue opportunities. Compliance Scorecard will be demonstrating the enhanced features as a Silver Sponsor at Pax8 Beyond 2024, June 9-11.
“The new features collectively enhance the ability of MSPs to manage risks proactively and maintain a strong security posture, ultimately enhancing their clients’ governance, risk, and compliance (GRC) strategies,” said Tim Golden, CEO of Compliance Scorecard.
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“The new features collectively enhance the ability of MSPs to manage risks proactively and maintain a strong security posture, ultimately enhancing their clients’ governance, risk, and compliance (GRC) strategies”
Key highlights include:
Risk Register: The Risk Register is a central repository for tracking risks, including descriptions, potential impacts, owners, mitigation actions, and status. This feature allows organizations to systematically manage and address risks, ensuring they are identified, analyzed, and controlled effectively. Risks and gaps identified during assessments can be added to the Risk Register with a single click, ensuring thorough documentation and management. MSPs can then generate and assign action items for each identified risk, detailing steps to be taken, responsible parties, associated costs, and timelines.
Plan of Action & Milestones (POAM) Management: The Plan of Action & Milestones (POAM) feature provides MSPs with a structured approach to managing and mitigating identified risks. Within the Risk Register, MSPs can generate detailed action items for clients to decide on appropriate responses, such as Accept, Mitigate, Transfer, Avoid, or Defer. For items requiring mitigation, clients can document start and end dates, costs, responsibilities, and track the status of each action. This feature enhances accountability, ensures thorough risk management, and facilitates compliance with regulatory requirements.
Compliance Control Assessment (CCA) Reports: CCA reports allow MSPs to generate detailed compliance reports. MSPs can select an assessment, customize the introductory paragraph, and generate a Compliance Control Assessment. These reports can be downloaded as PDFs, facilitating easy sharing with stakeholders during QBRs and TBRs. The CCA reports are valuable tools for working with frameworks like CIS, CMMC, SOC2, and ISO, providing insights into a client’s compliance status and simplifying the auditing process.
Risk Register Integration with Assessment Reports: The integration of the Risk Register with assessment reports allows MSPs to directly add ‘At Risk’ items identified during assessments to the Risk Register with a single click. This seamless integration ensures that all identified risks are tracked and managed effectively, enhancing the overall risk management process.
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