Benefits of Using Top Enterprise Risk Management Service Companies

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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Understanding the Role of GRC Consultant During GRC Implementation 

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?

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

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

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

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?

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?

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

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

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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Why Your Enterprise Risk Management Software Should Incorporate Artificial Intelligence

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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Digital Transformation and How it Affects Data Compliance

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

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

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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5 Key Things to Look for in Operational Risk Management Software

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

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

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

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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What is GRC Software? – Benefits and How it Works

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

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

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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Understanding ESG Governance

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

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

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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Third Party Risk Management Best Practices

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

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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Understanding Enterprise Governance Risk and Compliance

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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Understanding ESG Risks

  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?

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

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?

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?

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

  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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What is regulatory compliance in banking?  

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?

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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GRC vs Integrated Risk Management 

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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Enterprise Risk Management Framework, What is it?

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?

    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 Third Party Risk Management? 

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 is Regulatory Compliance Management Software?

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 

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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Best IT Certifications For Beginners

Are you just starting out in the IT field? As IT consulting experts we understand the difficulty involved with deciding which IT certifications are going to best help you launch your new IT career. If you have done even the slightest amount of research, you’ve found that there is 75+ different IT certifications that can be acquired. Do you need all […]

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IBM OpenPages Has The Best User Interface  

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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Temporary vs. Permanent IT Staff: Key Considerations

According to the Society for Human Resource Management, the average cost of hiring a new employee is $4,129, although this does not account for onboarding and training costs, which can be quite significant. In fact, the cost of hiring new staff was higher for more complex, higher-paying positions. This means that it’s fair to surmise that the hiring costs for a IT and tech positions are significantly higher.

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How to Hire Top Software Engineers on a Budget

Within three years, there will be a million more computing jobs than eligible applicants, according to Code.org estimates. This means top software developers and engineers will continue to be in high demand. They’ll be awash in opportunities and offers, and can take their pick. This causes hiring managers to try and find new ways to get their attention. How can they hire top software engineers on a startup budget? How can they find them on any budget? Companies, regardless of size, have P&L considerations. So how can you land enterprise talent in a competitive market while ensuring you get the best possible value?

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What’s the Importance of Employee Integration for Temporary Staff?

The blended workforce is the workforce of today, particularly in the tech industry. Forbes reported that as of November 2016, 93% of companies had a blended staff of contractors/freelancers, temporary talent and permanent, long-term employees. This has resulted in a renewed focus on the importance of employee integration, which is essential for maximizing productivity.

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The Importance of Developer Skill Assessment

A 2014 IDC study revealed that there were 18.5 million developers worldwide, with about 11 million considered professionals and 7.5 million calling themselves hobbyists. Now, three years later, there are millions more. Evans Data Corporation pegged 2017’s figure at 21 million, though many speculate that the actual number could be much larger. What’s more, there are over 250 programming languages, with new languages being developed on a continual basis.

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5 Mistakes to Avoid When Coordinating Expertise in Software Development Teams

A recent meeting with your software development team leaders left you feeling a bit discouraged. You learned that while you have some very talented developers, most of these individuals are specialists. Specialists tend to have a very narrow range of expertise. For you, this scenario results in low skill redundancy and skill gaps that create major challenges for your team. Now, your team leaders are struggling to coordinate expertise, and the few individuals who are more versatile are getting overworked.

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The Traits of the Best Software Development Teams

You’ve just gotten the go-ahead to move on a potentially lucrative new project. However, as a hiring manager, you’re in a challenging position. You’re tasked with assembling one of the best software development teams your company has ever seen. And they need to be productive right out of the gate! It’s an assignment that has you wondering: what makes one team successful and efficient, while another team struggles to get the job done?

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Should You Give Programming Tests for Interviews When Hiring a Developer?

The rapid growth of the tech industry has made recruiting and hiring software developers increasingly difficult. For every one developer who’s available to work, there are five open positions. There are also dozens of unique programming languages and tech specialties to consider. Evaluating a software developer’s skill set and talents can be a real challenge. The popularity of agile development has made the practice far more collaborative than it was in the past. Collaborativity has benefits, but is also makes it a bit less likely that a developer can take true ownership of a project. So projects listed on developer resumes may not be accurately representative of their talents. Plus, the fast-evolving nature of this field means that work samples are of limited use. Standards change dramatically and quickly. This represents an added layer of complexity for talent acquisition.

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Should You Be Recruiting Global Talent?

Are you maintaining a local focus for your recruiting efforts? If so, you could be missing out on the many benefits that are associated with hiring the best person for the position—regardless of their location. In fact, there’s a good chance that you’re reducing your prospective talent pool from millions to just a dozen or less. As of late 2016, there were about 12 million mobile developers worldwide, with that figure expected to rise to 14 million in 2020. However, the local developer population in any given location may be quite limited. When compared to the global population, local candidates’ collective skill set may pale by comparison.

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Reduce Hiring Risk: Confidentiality Agreements and Employee Vetting

You’ve recently received a wave of calls from prospective clients, and your company is suddenly faced with more work than it can complete in a timely manner. Outsourcing isn’t a viable option because the project is sensitive in nature and requires collaboration with a couple of in-house experts. Instead, you’re considering calling in a team of developers to work on-site with your team (aka insourcing). You’re confident this will be an effective solution, but there’s a problem. You need strict confidentiality, and you’re nervous because on-site talent would have access to lots of sensitive information. If that information got into your competitors’ hands, it could ruin your business!

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The Real Costs of Hiring a Software Developer

You’ve come to the end of the interview and you realize that this candidate is “The One.” So you make a formal job offer, seal the deal and walk away feeling very positive. You traveled down a long and expensive road to get to this point, as you spent weeks screening and interviewing candidates. You had no idea that just six weeks down the road, your company would part ways with this software developer because it just wasn’t a good fit. This developer was accustomed to working in a large team, so when placed in a small group, he felt uncomfortable. He was stifled by the close collaboration and in the end, he simply couldn’t adjust.

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