The sharks are circling!

Governance risk and compliance (GRC) presents many challenges for organisations in todays highly-regulated business world. There are a number of products in the marketplace that address aspects of risk, audit, compliance and performance management, but none provide organisations with a real-time view of risk and compliance posture.

Many of the tools available provide a manual framework to automate risk, compliance and audit processes. None, however, monitor or correlate real-time metrics from business apllications or the IT infrastructure that supports those services with GRC.

We have developed a solution that brings together risk tracking software and Firescope Compliance to provide an enterprise-class GRC management solution. Firescope Compliance utilises Firescope's BSM (business service management) engine to collect and correlate IT metrics in real-time.

Overlayed on top are a number of Compliance modules that provide Continuous Control Monitoring (CCM) and audit management for PCI/DSS, SOX, HIPAA, SA70 and FSA. We have integrated this capability to collect real-time metrics with risk tracking software. This integration passes metrics to the risk tracking system which uses advanced risk modelling and calculation algorhythms is to re-calculate the risk posture in real-time. This new risk posture is then updated and displayed on Firescope dashboards that show risk and compliance status alongside other business service information.