The Benefits of Using Top Compliance Solutions Companies

November 30th, 2022 by

Recent years have seen a marked increase in the number of companies that are implementing risk management solutions as they become more cognizant of the many threats and vulnerabilities that their organizations confront. Events such as the COVID-19 pandemic really drove home a harsh reality: even the most profitable, well-established companies can be taken down […]

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How Compliance Software Companies Benefit Financial Institutions

November 29th, 2022 by

Aside from the healthcare space, the financial sector is one of the most highly-regulated industries, and as such, business leaders are left to consider strategies for effectively achieving and maintaining full regulatory compliance.  There are a broad range of regulatory compliance software companies that offer comprehensive digital solutions for financial institutions (amongst others). But acquiring, […]

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Addressing Data Security Challenges With Risk and Compliance Solution Companies

November 23rd, 2022 by

Data management is a common area of concern when it comes to risk management and regulatory compliance. Business leaders in all industries and sectors will need to confront the issue of data management sooner rather than later if they are to avoid regulatory fines, penalties, and even some serious legal troubles.  From a regulatory compliance […]

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How Compliance Solution Companies Can Help You Overcome Common Compliance Challenges

November 22nd, 2022 by

Legal and regulatory compliance has emerged as an increasingly relevant risk management concern for companies both large and small across all industries and business sectors.  In fact,  2022 saw lots of news coverage of non-compliance incidents involving well-known corporations that were slapped with tremendous fines and penalties totaling in the millions and even billions of […]

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How Environmental Compliance Services Help You Maintain ESG Compliance

November 16th, 2022 by

Environmental, social and corporate governance — also known as ESG — is a term used to describe an increasingly popular movement in the business and investing world. In fact, it is a movement that has corporate leaders making fairly aggressive changes to their business strategy in an attempt to reduce non-compliance issues, while simultaneously making […]

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Advantages of Compliance Consulting Services

November 15th, 2022 by

Today’s business is faced with a slew of regulatory compliance requirements and with each of those regulations comes the potential of non-compliance — a risk management challenge that can seem overwhelming due to the sheer volume of the compliance requirements. Regulatory compliance can impact virtually any and every aspect of a company and its operations. […]

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Addressing Privacy and Data Challenges with Regulatory Compliance Services

November 9th, 2022 by

As technological proliferation expands, so too does the amount of data that is generated. Contact forms. eNewsletter subscriptions. This has led to an increasing awareness in the realm of data privacy — a point that has led to the formation of countless laws, rules, and regulations that impact companies across all industries.  Today’s business is […]

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How Compliance Services Can Help You Avoid Large Penalty Fines

November 8th, 2022 by

Technological proliferation has led to a sharp rise in the amount of data that is generated, collected, and stored across all industries and business sectors. This has made data management a very real concern for companies both large and small. To compound matters, we have also seen a dramatic increase in the number of regulatory […]

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Advantages of Regulatory Compliance Consulting for Banks

November 2nd, 2022 by

Banks and other financial institutions are subject to strict regulatory oversight, with a number of independent and government-based organizations establishing laws and regulations that affect nearly every aspect of daily operations.  Achieving and maintaining regulatory compliance is a major lift in the financial sector, with banks required to closely evaluate and monitor their practices, policies, […]

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How Compliance Consulting Firms Help You Maintain SOC 2 Compliance

November 1st, 2022 by

Data management is an increasingly common concern for businesses in all industries and sectors, as regulatory oversight becomes more stringent and consumers become more aware of how their data is handled. But there are a number of strategies that can be leveraged to achieve and maintain compliance with data handling regulations such as SOC 2 […]

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Avoiding Compliance Risks With a Compliance Consulting Agency

October 26th, 2022 by

Recent years have seen a significant rise in the number of regulations that are being issued and enforced by both private and government regulatory organizations. From environmental regulations and personal privacy protections to rules governing how documents and records are handled, these regulations have a broad impact. In fact, virtually every agency is subject to […]

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5 Things That Show You Need Compliance Consulting

October 25th, 2022 by

Compliance consulting has gained tremendous popularity in recent years amongst businesses both large and small, across all industries and business sectors. As an increasingly important component of an organization’s risk management strategy, more and more business leaders are recognizing the importance of achieving and maintaining compliance both in the legal and regulatory sphere. Many companies […]

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Tips for Finding the Best Risk Management Consulting Firms

October 19th, 2022 by

Risk management consulting firms can bring significant benefits to your business, whether you are a new, up-and-coming startup venture or a massive enterprise with offices or shops spread across the globe. That said, not all consultants are created equal and the best firm for one business may be a really poor fit for another. This […]

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Benefits of Enterprise Risk Management Consulting

October 18th, 2022 by

Enterprise risk management consulting has seen a significant rise in popularity in recent years thanks to factors such as an increase in cybersecurity threats and the COVID-19 pandemic. That latter made many realize the true fragility of their company’s risk landscape, prompting business leaders to take action to manage and mitigate risk.  To say that […]

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Why the Risk Management Consulting Market is Booming and Why You Should Care

October 12th, 2022 by

The risk management consulting market has seen a meteoric rise in popularity in recent years. This surge in popularity was largely driven by the COVID-19 pandemic, which prompted many company leaders to realize the true extent of their company’s vulnerabilities. But how does this impact you as a business?  A booming risk management consulting industry […]

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Tackling IT Risk Challenges With Risk Management Consulting Firms

October 11th, 2022 by

Cybercrime and other digital threats have taken on a life of their own, especially in recent years, with cyber criminals becoming more and more sophisticated and advancing their malicious trade in a manner that poses some serious threats to businesses both large and small. Cybercriminals aside, an organization’s IT division faces other threats and risks […]

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Avoiding Poor Data Governance With Data Risk Management Services

October 5th, 2022 by

Many fail to realize it, but for a vast majority, a company’s most valuable asset is their data. That’s right. Data. Information. At its very core, binary code. Data is at the core of virtually every operation. Customer data. Sales and financial data. Machinery and equipment data output. Inventory. Records and documents.  Data makes the […]

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Who Needs Risk Management Consulting Services?

October 4th, 2022 by

Until relatively recently, many business leaders regarded risk management to be more of a proactive and even semi-optional sort of endeavor. But the COVID-19 pandemic changed that perception in a dramatic manner. Suddenly, companies realized that they were vulnerable in ways that they had failed to realize previously. The fragility of their business — and […]

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Benefits of Using Top Enterprise Risk Management Service Companies

September 28th, 2022 by

Business leaders have become increasingly conscious of risk management issues on the heels of the COVID-19 pandemic; an event that drove home the fragility of corporate success. This has prompted many to consider seeking guidance from some of the top enterprise risk management service companies.  But actually finding the right risk management service provider can […]

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What are Risk Management Services? 

September 27th, 2022 by

Risk management is a critical consideration for companies large and small, across all business sectors and industries. But effectively managing threats and risk factors is a tremendous challenge that leaves business leaders seeking risk management services.  To complicate matters, there is no single recipe for success when it comes to risk management efforts. The threats […]

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What to Look for in a GRC Consulting Services Provider

September 21st, 2022 by

Recent years have seen a dramatic increase in the number of business leaders who have realized the importance of governance, risk, and compliance — also known as GRC — as part of a company’s overarching risk management strategy. But with this realization comes an appreciation of GRC’s complexity. While the three GRC concepts are fairly […]

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The Importance of Choosing a Good GRC Consulting Company

September 20th, 2022 by

Governance, risk, and compliance — better known as GRC — are key components of an effective business risk management strategy. But putting those concepts to work for your organization can be a challenge. It entails the development of new GRC-friendly policies and protocols. There is the task of evaluating your compliance and identifying risk factors. […]

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What is GRC Consulting? 

September 14th, 2022 by

An increasing number of companies are turning to governance, risk, and compliance (GRC) consulting as part of a broader and more proactive risk management strategy. Many have attributed this shift to the COVID-19 pandemic because this event highlighted the need to adopt a more aggressive stance on risk management. The reality is that legal and […]

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Understanding the Role of GRC Consultant During GRC Implementation 

September 13th, 2022 by

Understanding the Role of GRC Consultant During GRC Implementation  As more and more companies develop an increasing awareness of the issues surrounding governance, risk, and compliance (GRC), we are seeing an increase in the popularity of tools such as GRC software systems. These comprehensive, feature-rich software platforms can include a multitude of integrations and there […]

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Which Type of Risk Managing Software is Right for Your Business?

August 3rd, 2022 by

Risk management practices encompass a very broad scope and aptly so because threats tend to loom at every angle. Risk mitigation is equally complex, especially when it involves individuals from many different company divisions or departments. Identifying risk factors and coordinating an effective response can be tremendously challenging. But there is help and it comes […]

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What is Enterprise Risk Management Software for Banks

August 2nd, 2022 by

Enterprise risk management (ERM) software is a distinct niche in the field of risk management software, with some unique features and functionalities that are crucial for the minimization of risk for banks, lenders and other companies operating within the financial sector. The financial sector faces some of the most dramatic risks and vulnerabilities in the […]

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What’s the Difference: Vendor Risk vs. Third Party Risk vs Supplier Risk Management Software

July 27th, 2022 by

Recent years have seen a dramatic rise in awareness when it comes to the risk management sphere. In response, software developers identified an opportunity to create risk management software platforms that would aid in vulnerability identification, evaluation and response. Much of this software has been specialized to target one specific type of risk: relationships with […]

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The Complete Guide to Integrated Risk Management Software

July 26th, 2022 by

Risk management software has evolved into an increasingly-important and rapidly-growing component of today’s modern business strategy. Integrated risk management — also termed IRM — is one aspect of an organization’s broader risk management strategy. Yet it’s rather difficult to formulate and initiate IRM initiatives due to the very broad and comprehensive nature of integrated risk […]

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IT Compliance Software: Understanding Its Purpose and Benefits

July 20th, 2022 by

IT compliance software — also called IT regulatory compliance software — has gained a great deal of popularity in recent years as companies become increasingly aware of their technology-specific regulatory requirements. In fact, many now regard IT compliance as a critical component of a company’s risk management strategy. The tools in an IT compliance software […]

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What Types of Business Need Regulatory Compliance Management Software?

July 19th, 2022 by

Regulatory compliance management is a key component of a company’s overall risk mitigation strategy. But managing an organization’s many compliance burdens can get complicated and overwhelming in very short order. This is especially true for those in the healthcare space, the financial sector and other heavily-regulated industries. Enter: regulatory compliance management software. Virtually every company […]

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What Should I Look for in Compliance Software Vendors?

July 13th, 2022 by

Compliance software platforms are playing an increasingly important role in companies’ risk management strategies. Recent years have seen a surge in the number of businesses that are seeking compliance management software solutions. This is, in large part, due to the ever-increasing number of regulations that are impacting companies in a variety of business sectors. Recent […]

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Using Compliance Management Software to Keep Up With Constant Changes in Compliance Regulations

July 12th, 2022 by

The regulatory compliance landscape is constantly changing and evolving, with new laws and regulations perpetually being developed. Existing regulations are often modified too, adding yet another element of complexity to the equation. Certain industries and business sectors — namely, the financial sector, the tech sector, manufacturers, and the health care industry — are subject to […]

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How to Choose the Best Risk Management Software Vendors for Your Business

July 6th, 2022 by

A well-architected risk management and mitigation strategy will usually fall woefully short of expectations if you lack the right tools. Enter: the risk management software solution.These software platforms are equipped with a variety of features and functionalities to help companies identify, evaluate, monitor, and take action when risks and vulnerabilities are identified. Many risk management […]

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How IT Risk Management Software Can Help You Maintain Compliance Through New Changes in Technology

July 5th, 2022 by

An increasing number of companies — from small startups to major corporations — are taking proactive measures to identify and mitigate risk in all areas of their business. These efforts are not in vain as a single incident can ultimately result in a business being forced to close its doors. This is especially true in […]

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Why Your Enterprise Risk Management Software Should Incorporate Artificial Intelligence

June 29th, 2022 by

In recent years, the business world has collectively honed their focus on risk management, with more and more companies realizing the importance of a well-developed risk management strategy. The reason for this shift is largely rooted in the COVID-19 pandemic, which prompted many companies to revise and re-examine their operations. Others are subject to stringent […]

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Third-Party Risk Management Software for Financial Institutions

June 28th, 2022 by

Third-party risk management (TPRM) is a major consideration for financial institutions such as banks and lenders and the reason is clear: criminals view these businesses as a prime target with a sizable potential payout. Financial institutions are at the top of the list when it comes to “targetability” by criminals; this makes a well-developed risk […]

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What is Compliance Risk Management

June 22nd, 2022 by

Compliance risk management has become a central component of today’s modern business strategy. Not only are there an increasing number of regulatory bodies coming into existence, but we are also seeing more and more social pressure for companies to operate in an ethical, environmentally-friendly, and socially-responsible way. This means that even where there is no […]

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Types of Compliance Risk Part 2

June 21st, 2022 by

Compliance risk represents a very real concern for companies both large and small. In today’s corporate landscape, risk management is a crucial component of a winning business strategy. But even smaller and mid-sized companies are realizing the importance of compliance risk mitigation. In order to effectively address those risks, you must have a firm grasp […]

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Digital Transformation and How it Affects Data Compliance

June 15th, 2022 by

Digital transformation is probably among the most-heard terms in today’s technology lexicon and for good reason. We are in an age of fast-evolving and rapidly-advancing technology that holds the potential to profoundly transform an organization’s operations. But what constitutes digital transformation? And how does it affect data compliance? These are important questions because data compliance […]

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How to Use Compliance Software to Make Your Business Stronger

June 14th, 2022 by

Compliance software offers an extremely useful toolset, providing companies with the framework they need to achieve and maintain compliance, whether it is regulatory compliance or legal compliance. An increasing number of companies are turning to these software platforms as the collective awareness surrounding compliance increases beyond the most heavily-regulated fields such as health care and […]

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How Risk Management Services Can Help You With Data Governance

June 8th, 2022 by

Risk management is a critical component of any good business strategy, especially in today’s technology-centric society, where many risks surround digital assets such as a company’s data. In fact, data represents a major source of risk for most businesses. Fortunately, though, risk management services can help promote more effective data governance practices. Risk management efforts […]

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What Are The Different Types of Compliance Risk?

June 7th, 2022 by

  Recent years have seen a dramatic rise in the number of organizations that are focusing on risk management, specifically as it relates to regulatory compliance. The reality is that we are only seeing an increase in the number of regulatory bodies that exist, especially in industries such as finance, investment, technology, and health care. […]

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5 Key Things to Look for in Operational Risk Management Software

June 1st, 2022 by

Operational risk management is critical for today’s most competitive companies, especially those with particularly unique or complex operations. This risk can arise from many sources, such as inefficient processes, equipment or systems, external events, and employee actions/inactions. Operational risk management software can play an instrumental role in a company’s broader enterprise risk mitigation strategy. But […]

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Why Risk Management Software is Critical to Business Growth

May 31st, 2022 by

In a competitive, fast-paced business world, effective risk management is critical for growth and long-term success. This is true regardless of industry, business size or perceived vulnerability. But to see the maximum benefit, you need a comprehensive risk management strategy, along with the resources to implement mitigation measures. Enter: risk management software. The right risk […]

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GRC Software Pricing – Everything You Need to Know

May 25th, 2022 by

As governance, risk management, and compliance (GRC) becomes an increasingly prominent part of many companies’ overall business strategy, more organizations are seeking out tools to aid in their efforts. Enter: GRC software systems. GRC software can successfully streamline and centralize a company’s GRC-related efforts, providing a wide variety of useful features, tools, and functionalities. But […]

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GRC Decisions That Are Guaranteed to Backfire

May 24th, 2022 by

An increasing number of companies are integrating governance, risk management, and compliance (GRC) principles into their overarching business strategies. But many organizations lack real practical experience when it comes to implementing a GRC framework, resulting in the potential for some major snafus. Unfortunately, many organizations underestimate the complexity of GRC frameworks. Let’s explore a few […]

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How GRC Solutions Make Your Business More Profitable

May 4th, 2022 by

Recent years have seen an increased focus on GRC — governance, risk management, and compliance — outside of the enterprise arena. Small businesses and midsize companies are also beginning to integrate GRC frameworks as part of their overall business plan. The reason: when implemented properly, GRC principles hold the potential to increase profits and reduce […]

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Why Cybersecurity Relies on Good GRC Practices?

May 3rd, 2022 by

Increasingly, issues surrounding governance, risk management, and compliance — also known as GRC — are being addressed by companies outside the enterprise realm. As more consider GRC as part of their broader business strategies, there is an increasing collective awareness of the strong link to cybersecurity. In fact, a solid approach to governance, risk management, […]

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When to Start Looking for GRC Companies?

April 27th, 2022 by

Increasingly, companies of all sizes and in all industries are actively addressing issues of governance, risk management, and compliance (GRC). With a company’s reputation in the balance and potentially-hefty fines and penalties at stake, it should come as no surprise that business leaders are paying greater attention to these important issues. GRC can impact virtually […]

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What is GRC Software? – Benefits and How it Works

April 26th, 2022 by

Governance, risk, and compliance (GRC) management is an increasingly common concern amongst companies of all sizes, particularly at the enterprise level where monitoring and compliance-related actions tend to be the most aggressive. Publicly-traded companies, in particular, experience a tremendous burden when it comes to meeting the various compliance and risk standards for their industry or […]

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ESG vs Sustainability

April 20th, 2022 by

Recent years have seen a dramatic increase in corporate eco-consciousness — a trend that has been mirrored at virtually every level of society as well. The data supports this idea too. According to an October 2021 study, 69% of respondents said they were actively doing everything within their control to minimize their carbon footprint. That […]

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How to Manage ESG Compliance

April 19th, 2022 by

Environmental, Social, and Governance (ESG) is becoming an increasingly critical component of the modern company’s business strategy. In fact, ESG-related reports are now deemed mandatory by the U.S. Securities and Exchange Commission (SEC) — the agency that initially developed the ESG criteria. The SEC has even developed a task force to address cases of non-compliance. […]

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The Time to Create an ESG Policy is Now

April 13th, 2022 by

Issues surrounding the climate and global warming are highly politicized in many regions, with everyone from Hollywood starlets to Presidential candidates taking up firm positions on the topic. But no matter where your personal beliefs surrounding these controversial issues happen to fall, one thing is clear: issues related to the environment and sustainability are an […]

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Understanding ESG Governance

April 12th, 2022 by

In today’s eco-conscious world, sustainability matters. It matters to all stakeholders from employees to clients along with investors and everyone else in between. In fact, recent years have seen a distinct movement toward sustainable investments. This, in turn, prompted the U.S. Securities and Exchange Commission (SEC) to develop the Environmental, Social, and Governance (ESG) criteria […]

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Why the SEC’s New ESG Task Force Makes Managing ESG RIsks Even More Important

April 6th, 2022 by

The U.S. Securities and Exchange Commission (SEC) and the Environmental, Social, and Governance (ESG) Division of Enforcement announced that they would be creating a 22-person task force composed of members from the federal organization’s regional offices, headquarters and “specialized units.” The task force’s objective is to monitor climate- and ESG-related issues and companies’ compliance with […]

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Mandatory ESG Reporting is Around the Corner

April 5th, 2022 by

Developed by the U.S. Securities and Exchange Commission (SEC), the Environmental, Social, and Governance (ESG) criteria is used to gauge a company’s sustainability and conduct risks. The data points that determine an organization’s sustainability are then documented in reports that are now considered mandatory. ESG reporting isn’t necessarily new, however, making these reports mandatory is! […]

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What is a Third party Risk Management Framework?

March 30th, 2022 by

If you’re in the process of developing a risk mitigation strategy, the chances are good that you have encountered a third-party risk management (TPRM) framework. But what is this framework? Who was it designed for? And what are its benefits? These are all valid questions. But before delving into the workings of a third-party risk […]

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Tips for Effective Third-Party Risk Management

March 29th, 2022 by

Independent contractors, vendors, and other third-party service providers play a crucial role in today’s business world. In fact, for many organizations, these third parties are instrumental to success. But as with all good things, there is a downside. In the case of third-party service providers, the downside is risk — risk of compromised trade secrets, […]

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Third-Party Vendor Risk Management for Financial Institutions

March 23rd, 2022 by

Third-party vendor risk management for financial institutions is a key area of concern due to the sensitive and high-risk nature of this business niche. The practice of third-party risk management (TPRM) encompasses the analysis and mitigation of risks that are associated with third parties such as contractors, vendors, and other non-employees who work with an […]

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Third Party Risk Management Best Practices

March 22nd, 2022 by

Organizations of all sizes and in all sectors can benefit from working with third-party service providers, vendors and contractors. The advantages are numerous, ranging from filling skill gaps and facilitating one-time projects to reducing overhead and achieving significant financial savings. But there are some risks associated with bringing these individuals into the fold. This is where […]

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Key Things to Look for in Third-Party Risk Management Software

March 16th, 2022 by

Third-party risk management (or TPRM) continues to increase in popularity because more and more organizations are seeking cost-effective ways to get the job done without the overhead associated with using in-house resources. This has spurred a rise in the number of companies that are turning to third-party risk assessment software platforms. But with many options […]

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Why is Third-Party Risk Management Important?

March 15th, 2022 by

Third-party risk management — also known as TPRM — refers to the practice of identifying and mitigating the risks that arise in connection with vendors, contractors, and other third-parties whom a company leverages in the course of their business. The extreme competitiveness of many industries and business sectors has made independent service providers a critical […]

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How to Make Third Party Risk Management Painless

March 9th, 2022 by

Third party risk management — also known as TPRM — has gained significant popularity in recent years as business leaders become increasingly comfortable with outsourcing various functions within their companies. But not every experience with a third party service provider is going to go smoothly and there is an inherent risk associated with pulling new […]

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How to Decide Which Governance Risk and Compliance Tools are Right for Your Business

March 8th, 2022 by

Governance risk and compliance (GRC) is a multi-disciplined concept that holds the potential to affect nearly every aspect of a company’s operations. This includes compliance and regulatory matters, enterprise risk management, along with policies and procedures. A robust, well-thought-out GRC strategy is essential for success in today’s ever-evolving business world. But regardless of how much […]

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What to Look for in Governance Risk and Compliance Vendors?

March 2nd, 2022 by

Governance risk and compliance (GRC) can impact virtually every company process and policy. From risk mitigation to ensuring full compliance with laws and regulations, GRC is a complex discipline to be certain. With a company’s reputation and millions of dollars at stake for just a single fine, governance risk and compliance is not something that […]

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Understanding Enterprise Governance Risk and Compliance

March 1st, 2022 by

Enterprise governance risk and compliance is — or should — be a major concern for organizations in all business sectors. Forbes called the 2021 jump in cybercrime “alarming,” with data breaches surpassing the prior year’s figure by October 2021. Meanwhile, The Insurance Journal reported that cybercriminals took in over $1.3 billion in “ransoms,” with 2021’s […]

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GRC 101: What is a Governance Risk and Compliance Framework?

February 23rd, 2022 by

Without a doubt, it is a difficult challenge to navigate today’s business world. Many different steps and risks are associated with even the most basic pursuits. Never mind, trying to expand. What was once commonplace for businesses: achieving goals, sustaining performance, and increasing resiliency are now arduous, with issues arising at every turn. A range […]

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Governance, Risk and Compliance 2022 & Beyond

February 22nd, 2022 by

Risk is everywhere, especially for modern businesses. Now, understanding that there is risk associated with everything is paramount to risk management. Everything from the core of your business to what your employees do outside of work constantly gets scrutinized. Thus, more often than not, business owners find themselves mitigating risks instead of acting in the […]

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Understanding ESG Risks

February 9th, 2022 by

  ESG (Environmental Social Governance) includes metrics that measure social responsibility, environmental sustainability, governance, and shared values. It is becoming increasingly important to businesses, with more than 500 firms now routinely reporting ESG data. Investors, employees, and customers are demanding more transparency from companies to assess their sustainability credentials. ESG risk management is becoming a […]

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Enterprise risk management technology | What is it?

February 8th, 2022 by

What is Enterprise risk management? Enterprise risk management (ERM) is the process of planning, organizing, directing, and controlling the activities of an organization to minimize the harmful effects of risk on its revenue as well as reputation. Enterprise risk management includes financial risks, strategic risks, operational risks, and risks associated with accidental losses. ERM can […]

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What is a supplier risk assessment? 

February 2nd, 2022 by

A supplier risk assessment can help an organization understand and manage its risks while helping ensure the quality of its products and services. It is a vital part of supplier risk management and can help you avoid suppliers that might not be the best fit for your company. If you’re looking for a new supplier, […]

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What is IT Governance?

January 26th, 2022 by

IT governance is a critical aspect of an organization’s overall enterprise risk management process. It is a process of establishing IT policies that determine the proper use of IT assets, and it forces an organization to think about the role of IT in its business. Through IT governance, an organization can identify and measure its […]

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What is Operational risk management?

January 19th, 2022 by

Operational risk management (ORM) is a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. (ORM) is a way to get a holistic view of a company’s risk footprint throughout the supply chain—and everyone across the organization has a […]

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Maintaining Vendor Compliance

January 12th, 2022 by

The rules organizations must adhere to so they can maintain compliance is often hard for organizations to keep up with. Regulations seem to change monthly and the cost of being compliant keeps rising. Business operations that deal with sensitive data store this information digitally where cybercriminals are patiently waiting to pounce at the slightest vulnerability. […]

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What is a Vendor Management Policy?

January 5th, 2022 by

Organizations are connected to more vendors now than ever before. In fact, the number of third-party relationships an organization can have can be over 5,000. Organizations can find themselves on the hook for huge fines and other negative consequences, if they fail to meet compliance regulations and or suffer an attack. This is true even […]

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Integrated Risk Management Framework. What is it?

December 15th, 2021 by

What is integrated risk management? Integrated risk management (IRM) is a set of practices and processes supported by a risk-aware culture and enabling technologies, that improve decision making and performance through an integrated view of how well an organization manages its unique set of risks. What is an integrated risk management framework? Integrated Risk Management […]

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Compliance and risk management. What is the difference between the two? 

December 8th, 2021 by

Regulations are increasing across the globe and it’s forcing boards of directors to participate in all matters of the company’s business. This is especially true in the areas of compliance with the law and industry regulations. Huge variations in the economic climate during the last few decades have also raised expectations of stakeholders who want to invest in companies with a formidable reputation for regulatory compliance.  Increased compliance regulations and stakeholder […]

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What is policy management?

December 1st, 2021 by

What is policy management and why is it important?  Policy Management refers to the creation, communication, and management of all the policies and procedures implemented by an organization. Policies are the foundation of governance, risk, and compliance (or GRC) strategy. Every business consists of various departments, and policy management governs the creation and distribution of policies, so other parts of the organization don’t create their […]

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What is an IT Governance Framework?

November 17th, 2021 by

What is a governance framework?  A governance framework is essential for modern governance and legal operations; it directs how people interact with the organization, with regulators, and with stakeholders to closely guide and monitor operations.  Governance frameworks give support and create structure for an organization’s compliance operations. It is through governance that companies and other […]

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What is Regulatory Compliance in HealthCare

November 10th, 2021 by

  Regulatory compliance in healthcare involves a broad range of practices. However, patient safety, the privacy of patient information, and government reimbursement for healthcare expenditures make up the bulk of compliance issues in healthcare.  Healthcare professionals access patients’ health records electronically on a routine basis. This makes maintaining patient privacy a vital component of the healthcare industry. Failure to protect all that […]

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Understanding the vendor risk management matrix

November 3rd, 2021 by

What is vendor risk management? Vendor risk management (VRM), or third-party risk management, is the management, monitoring, and evaluation of risks that result from third-party vendors and suppliers of products and services. What is a vendor risk management matrix? A vendor risk management matrix is a valuable tool in your vendor risk management framework. With […]

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What is regulatory compliance in banking?  

October 20th, 2021 by

Regulatory compliance in banking deals with banks and the way in which they must adhere to all local laws and regulations wherever they operate. Note that data protection regulations are not the entirety of the full scope of compliance in the financial services industry, though they are a key part.  Furthermore, different countries have different regulations regarding the data of their citizens/the data non-governmental organizations process and store, which […]

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What is compliance risk management?

October 13th, 2021 by

Compliance risk management refers to the practice of identifying potential risks in advance, analyzing them, and taking precautionary steps to reduce the risk. Organizations are attempting to spot risks off in the distance and mitigate them before they ever get the chance to cause any trouble.  However, even if you had unlimited resources which is unrealistic, know that no company can achieve perfect compliance with all regulatory burdens. Some mistakes are bound to happen eventually. The goal is […]

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What is an Issue Management Process?

October 6th, 2021 by

There is an easy, fast, and painless way to address issues as they arise. It is also known as an issue management process. The issue management process outlines the preferred approach for identifying, analyzing, and managing issues as they arise. It is typically a formalized procedure that is created, reviewed, and approved for use. The […]

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GRC vs Integrated Risk Management 

September 29th, 2021 by

What is GRC   GRC (governance, risk, and compliance) is an organizational strategy for managing governance, risk management, and compliance with industry and government regulations. GRC also refers to an integrated suite of software capabilities for implementing and managing an enterprise GRC program.  GRC’s set of practices and processes provides a structured approach to aligning IT with business objectives. GRC […]

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Principles of Risk Management

September 22nd, 2021 by

There are core principles of risk management that regardless of the type of risk, are at the forefront of risk managers’ brains. Reinforcing these principles can help demonstrate how a robust risk management program supports achievement of the organization’s mission and vision. Risk Management Defined  Risk management is the process of minimizing or mitigating the […]

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Enterprise Risk Management Framework, What is it?

September 15th, 2021 by

Enterprise Risk Management Framework, What is it?  Enterprise risk management (ERM) frameworks are types of risk management frameworks that relay crucial risk management principles. You can use an ERM framework as a communication tool for identifying, analyzing, responding to and controlling internal and external risks. An ERM framework provides structured feedback and guidance to business units, executive […]

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What is a Risk Management Framework?

September 8th, 2021 by

    Risk Management Framework, in simple terms, provides a balance between taking risks and reducing them while achieving business objectives.  NIST Definition of Risk Management Framework  According to NIST the Risk Management Framework provides a process that integrates security, privacy, and cyber supply chain risk management activities into the system development life cycle. The risk-based approach to control selection and specification considers effectiveness, […]

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What is a Third Party Risk Assessment? 

August 31st, 2021 by

A third-party risk assessment is a function of third party risk management (TPRM) and is an attempt to quantify the risk associated with a third party vendor that will be providing a product and or service to your organization.   Why is Third Party Risk Assessment important?  External relationships pose a significant cybersecurity threat to a business […]

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What is Third Party Risk Management? 

August 18th, 2021 by

Third-party risk management (TPRM) is a type of risk management that deals with identifying and minimizing risks in relation to using third parties. TPRM can also be referred to as vendor risk management.  TPRM is designed to help organizations discover unexpected risks. This is done by giving organizations information on how third parties conduct operations and what ways an organization is using the third party.  Why is Third-Party Risk Management Important?  […]

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What are iTech Preconfigured Solutions (iPS)?

August 4th, 2021 by

Why were iTech Preconfigured Solutions (iPS) developed? Issue management can be daunting for organizations. This is why issue management solutions like OpenPages are popular among many organizations.  While the OpenPages standard solutions can definitely make issue management easier, implementation time is less than ideal. As the old saying goes time is money and the longer […]

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How Solid Issue Management Can Help Your Team

July 21st, 2021 by

There are many ways to handle risks, what remains constant is the importance of having a plan for dealing with them. Learn how to make your company’s issue management process more effective.  Business is all about solving problems not creating them. However, you’re bound to encounter problems during any project. Now, it is possible to anticipate […]

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What is Regulatory Compliance Management Software?

July 7th, 2021 by

Today’s compliance managers need powerful and effective Regulatory Compliance management software. In a business environment defined by sustained market volatility and ever-increasing regulations. Companies need the ability to integrate enterprise-wide risk management processes and multiple regulations. Firms are witnessing a dramatic increase in active first-line users. Sometimes tens of thousands—scattered across the organization while using […]

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Why You Need a Business Continuity Management System 

June 30th, 2021 by

Start using a business continuity management system today to prepare your enterprise for business continuity and protect employees in the face of disruptive events. Businesses are increasingly suffering from external and internal disasters due to a lack of business continuity planning. Unprepared organizations can suffer financial losses, negatively trending reputations and a large list of […]

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What is Data Privacy Management Software? 

June 9th, 2021 by

What is Data Privacy?  Before we learn about data privacy management software we have to understand what Data Privacy is. Data Privacy or Information privacy is a part of the data protection area that deals with the proper handling of data focusing on compliance with data protection regulations.  Data Privacy revolves around how data should be collected, […]

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IBM OpenPages Has The Best User Interface  

February 10th, 2021 by

OpenPages Is A Risk Market Technology Awards Winner  ITech is excited to announce that OpenPages has once again found its name being mentioned among the best GRC solutions available. The risk management industry declared in February that IBM OpenPages with Watson won the best user interface innovation category in the Risk Market Technology Awards.   The Markets Technology Awards, part of the Risk Awards, recognizes the achievements of technology […]

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