The Cyber Risk Suite and Operational Risk Suite of integrated solutions create more efficient and effective optimization of resources to strengthen operational resilience and empower enterprises to take a proactive approach to risk management and compliance
LogicGate, a leading provider of holistic Governance, Risk, and Compliance (GRC) solutions through its Risk Cloud platform, announces the new Cyber Risk Suite and Operational Risk Suite offerings, providing enterprises with purpose-built integrated solutions to efficiently and effectively optimize their Enterprise Risk Management (ERM) and Cyber Risk programs. Each suite includes applications, integrations, licenses, and services to quickly implement a robust risk management program delivering improved visibility, streamlined collaboration, and efficient resource allocation through the interoperable Risk Cloud platform.
“Our customers are juggling budget consolidations, talent retention, new threats, changing regulations and are tasked to do more with less,” said Matt Kunkel, Co-Founder and CEO of LogicGate. “Efficiency and standardization are paramount for any risk or compliance professional, so we made it easier for customers to quickly implement suite solutions that maximize risk and compliance programs and generate meaningful data to narrate business impact and easily report to stakeholders. GRC isn’t a cost center anymore, it’s a business enabler.”
There is a notable trend of consolidation in the technology space. Budget belt-tightening is felt industry-wide, and enterprises see the value in efficiency and standardized tools that optimize resources and security spending. For instance, LogicGate customers saw a 25% increase in task efficiency when leveraging automation tools available in Risk Cloud.
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Both the Cyber Risk and Operational Risk Suites were purpose-built with integrated solutions that create efficiency through automation, support real-time decision-making, and provide a centralized repository for holistic risk and compliance management.
In the operational risk landscape, the synergy between the Operational Risk Suite applications creates a dynamic framework that fortifies organizational resilience.
- ERM and Controls Compliance Applications work together to connect risks, controls, and evaluations across the enterprise while automating evidence collection and reporting. A fully integrated Issues Management Application helps teams proactively mitigate operational risk by streamlining issue scoring, prioritization, and resolution activities.
- Enhanced visibility and agility are further supported by the Policy & Procedure Management Application. Teams can quickly identify and address compliance gaps by dynamically linking policies to controls and automating the entire policy review, revision, and acceptance process.
Working in concert, the Cyber Risk Suite applications empower proactive cybersecurity measures, streamlined processes, and informed decision-making, taking a holistic approach to navigating the complexities of the digital landscape.
- The interconnectivity between Cyber Risk, Controls Compliance, and Third-Party Risk Applications enables resource-strapped cybersecurity teams to focus on the most critical business risks while staying audit-ready with a near real-time assessment of security posture — including residual risk and control effectiveness.
- Cyber resilience is further enhanced with an integrated Incident Management Application that streamlines triage efforts for efficient response assignments and remediation tracking.
- To tie it all together, Risk Cloud Quantify® communicates risk in financial terms and identifies strategic investment opportunities across business units, functions, and geographies.
“Every enterprise has a different risk tolerance and security investments, however, what’s common across organizations is the need to show a holistic view of how your risk and compliance programs impact your business. We listened to our customers and packaged solutions that are quickly implemented, create immediate efficiencies, and produce data-driven narratives that allow you to proactively make decisions,” said Jon Siegler, Chief Product Officer, LogicGate. “A segmented approach to risk and compliance is no longer defensible. A holistic approach to GRC not only strengthens how you make investment decisions in your governance, risk, and compliance programs but also leads to increased efficiencies across teams.”
Cyber threats, operational vulnerabilities, and regulatory changes are ceaseless, requiring security and compliance teams to collaborate, communicate, and automate swiftly when reacting to regulatory changes or mitigating cyber threats. Both the Cyber Risk and Operational Risk Suites seamlessly integrate into current Risk Cloud programs making it easy for interdepartmental visibility, standardization, and reporting from one universal platform. Notably, as reported in the G2 Winter 2023 Grid Report for GRC Platforms, 60% of enterprises using Risk Cloud reported seeing ROI within 14 months.
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