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June 2008

GRC Tools Help Manage Regulations

A decade ago, regulated industries were the rare exception; today, the industry that isn't regulated is the exception. In fact, most firms have multiple sets of regulatory requirements they need to address. As the regulatory burden increases, businesses are finding themselves in an increasingly complex ecosystem of governance--we audit our contractors and clients to ensure their compliance to our security requirements, and the firms we service audit us. As we implement security controls related to compliance, as well as controls contractually required of us by our clients, we put into production an ever more complicated laundry list of security controls to manage. Making risk decisions in this hive of controls, regulation and contractual obligations is nigh onto impossible. IT governance, risk and compliance (GRC) tools promise to help us meet these challenges. They promise to help us make smarter risk decisions, manage our compliance efforts and govern everything about our security program, from security awareness to technical ...

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