The consequences of non-compliance are just starting to become a harsh reality for some businesses.
With Easy Jet being one of the latest to be fined £180 million last year for a data breach, organizations simply can not go on without a robust data security governance and risk management framework.
Manually implementing, tracking, and integrating a Governance, Risk, and Compliance (GRC) strategy is not easy, especially for larger organizations.
Thankfully, compliance monitoring software is on your side. This article will discuss some of the benefits and features of using a GRC portal like Redwood.
Learn how you can streamline your GRC with Redwood.
What is Compliance Monitoring Software?
Compliance monitoring software, or Governance, Risk, and Compliance (GRC) management solutions is a way for your business to organize those aforementioned security elements in a meaningful and effective manner.
GRC forms a large part of any organization’s cybersecurity architecture and is the building block of your organizational safeguards. However, GRC is a complex system of interconnected disciplines, frameworks, and regulations.
While one team can take over the responsibilities of GRC, it can be challenging to keep track of overlapping regulations and frameworks.
This is where a GRC platform, like Redwood, can help you out. Essentially, the compliance monitoring software will help you stay on top of the requirements of various regulations that affect your industry while allowing you to integrate your GRC strategy under one roof.
Information silos can quickly become a nightmare for any organization, and a GRC portal helps you to avoid this.
Integrating all three Disciplines
A well-defined GRC platform will integrate all three components in a format that makes it easy for you to design, track, and update your GRC strategy.
Governance: within the context of cybersecurity, governance is the procedures and policies that your organization puts in place to detect, prevent, and eradicate cyber threats. Governance compliments the use of technical safeguards. For example, if threat detection and Security Incident and Events Management (SIEM) software are the technical sides of cyber defense, the incident response plan is the complementary governance side of cyber defense. In this example, you can see that only having intrusion detection won’t do much good if you don’t have a procedure in place when a security event is detected.
Risk Management: risk management is a broad discipline seen across many industries and professions. In general, the process of risk management allows organizations to hedge against undesirable events. In cybersecurity, this means forecasting the possibilities of a security event occurring against the potential fallout to the business. Cyber risk management is an excellent tool in scoping out threats while lowering overheads.
Compliance: governments and regulators are no strangers when it comes to cybersecurity. Whether it regards consumer privacy or protecting critical infrastructure, regulations in cybersecurity are just part and parcel of any organization conducting business online. If you do not integrate the last two elements, you will likely lag in security, and attackers will take advantage. However, not incorporating the compliance part of GRC into your strategy will also have the regulators against you.
What is Redwood?
Redwood is RSI Security’s GRC portal. Our GRC solution gives you a centralized platform to manage, track, and implement your GRC strategy.
Manage your GRC strategy organization-wide. One of the driving forces behind a GRC platform is the ability to take these elements of security (GRC) to the entire organization. This ability is essential as GRC is an organization-wide issue; without the cooperation and involvement of all organization members, it is unlikely that your GRC strategy will reach its full potential.
On top of that, integrating these three disciplines under one roof should help optimize their management. You will not need to worry about different teams compartmentalizing their strategies or overlapping resources, which can cause inefficiencies in your operation.
Why you Should use the Redwood GRC Portal
Now that we understand the fundamentals of a GRC, what can you expect with RSI Security’s Redwood GRC solution?
Below you will find a list of some of the great features that come with the Redwood portal, followed by a section on how it will benefit your organization.
Systematic and Comprehensive Report Generation
An essential element to a GRC strategy is understanding where you stand. The Redwood GRC solution offers a systematic and high-level granular report. With these reports, you can inspect every aspect of your strategy.
The documentation is easy to read and understand so that internal and external auditors can get up to speed on your progress and identify gaps quickly.
This helps tremendously in frameworks and regulations that require regular auditing and maintenance, obviating the need for unnecessary busy work.
Furthermore, the documentation is easy to understand, meaning anyone within the organization can follow along and comply with the audit when necessary and be part of the processes without feeling like they are in the dark.
Secure Data Access and Storage
Redwood wouldn’t be a complete GRC solution without inbuilt security features. With Redwood, you can rest easy knowing that your store’s sensitive data for your GRC needs will be safe and sound.
We ensure this security by complying with rigorous security standards and continuously testing our infrastructure against those standards while employing two-factor authentication.
We also allow users to use Redwood as a cloud-based solution or on-premise.
Full Customization and Workflows
RSI Security has worked with many industries and clients, so we understand that GRC is not a one-size-fits-all glove. That’s why we work closely with our clients to ensure that the Redwood GRC solution fits their security needs.
The last thing you want is a GRC platform that does not fit the culture and structure of your organization; it should be working for you and not against you.
With our help, you can be sure that once the GRC is set up and your strategy implemented, you can adjust along the way, ensuring workflow efficiencies across the board.
Automated Vulnerability Scanning
Vulnerabilities are a critical piece of information that colors your GRC efforts. Knowing both technical and organizational vulnerabilities within your business allows you to make educated choices on where to place resources and talent.
That’s why with Redwood, we have built-in automated vulnerability scanning, so you can keep a constant eye on leaks, threats, and more, ensuring you maximize the potential of your GRC strategy.
Now that we have covered some basic and advanced features of the Redwood GRC solution let’s see how these features can benefit your organization.
Covering all the Essential Cybersecurity Frameworks
One of the most powerful benefits of implementing Redwood and working with RSI Security is that we are the compliance experts. With our knowledge in compliance advisory, we have integrated a wide array of cybersecurity frameworks.
Covering all the essential cybersecurity frameworks and regulations means your organization does not need a fragmented approach to governance and compliance. Save the set-up time and resources commitment to implementing multiple frameworks when you can do it all under one roof.
Here are some of the significant frameworks covered under Redwood:
- Cybersecurity Maturity Model Certification (CMMC)
- Payment Card Industry Data Security Standard (PCI DSS)
- Health Insurance Portability and Accountability Act (HIPAA)
- System and Organizational Controls (SOC 2)
- Defense Federal Acquisition Regulation Supplement (DFAR)
- And More
Birds Eye View of your Security Strategy
Keeping an eye on your GRC strategy can be a cumbersome task. While the initial design of the strategy can also be quite time-consuming, maintaining it can be an uphill battle. With Redwood, you can keep track within a single dashboard.
Furthermore, any authorized personnel within the organization can access the system giving all of the GRC team and key stakeholders a means to communicate while also remaining on the same page.
Don’t worry about the micromanagement; focus on the security and let Redwood take care of the rest.
Don’t Miss a Beat, Get Redwood Today
The Redwood GRC portal is designed in a way that adapts to your structure. So don’t waste time changing your organizational operation to fit an archaic GRC model.
Work with RSI Security; we will guide you in implementing Redwood and a GRC strategy that starts where you start.