The cost of insufficient or absent risk management is high. The situation in the cyberspace encourages organizations to adopt risk-based thinking. It integrates risk evaluation with the decision-making process. The average level of adoption of risk-based thinking is still low. In three-quarters of organizations worldwide, it ranges from poor to none at all.
Global and Operational Challenges
The recent economic, political, and technological changes escalated the arrival of threats. To the global risk challenges, we can refer economic slowdown, regulatory pressure, increasing cyber threats, business disruption, and reputational, political, and third-party risks.
The challenges which are the most typical ones arising on the way to the efficient Risk Management system are the following:
- Identifying vulnerability areas and risks;
- Running gap analysis and risk assessment;
- Establishing simple and efficient risk assessment system;
- Keeping track of risk monitoring activity;
- Maintaining a continuous Risk Management process as Risk Identification, Evaluation, Treatment, Reporting.
Risk Management Solution
Infopulse SCM offers a set of features supporting the Risk Management process. It consists of the following steps:
- Risk Identification;
- Risk Assessment;
- Risk Treatment;
- Risk Reporting and Documentation.
For improved decision making and threat prevention, Infopulse SCM has the following features:
- Adaptable catalog of threats specific to individual organization;
- Set of pre-defined catalog templates, e.g. threat Catalog from IT-Grundschutz Kompendium;
- Prioritized risk identification to protect critical assets;
- Identification of threats and vulnerabilities and mapping to the related assets or processes;
- Risk Analysis and Evaluation providing the risk-level matrix-based (4 and 5 dimensions) both on threat probability and its individual impact on each asset;
- Definition of Risk mitigation measures and mapping them to requirements and controls;
- Automatic risk acceptance.
As an all-in-one GRC solution, Infopulse SCM efficiently addresses Risk Management major pain points.
- Simple risk detection and identification with easy-to-follow guidance;
- Fast and accurate automated risk assessment and gap analysis;
- Detailed record of risk monitoring history;
- Single communication channel and database;
- Full cycle of Risk Management process via a single control center;
- SCM adjusts to individual and changing needs. It enables you to accomplish your Risk Management program without extra effort.
If you are about to implement or improve your Risk Management system, contact the Infopulse experts for advice. We will assist you to build a comprehensive action plan based on a proactive Risk Management approach.
Effective and easy-to-use IT security management system based on the latest standards and regulations — from planning and establishing the security concept to certification.