ICT Governance, Risk and compliance
Technology has transformed the face of the corporate world – opening doors to new business models, new markets, and new ways to connect. At the same time, it poses a ubiquitous challenge for businesses. As IT environments become increasingly complex and business reliance on technology increases, organizations face a wide array of risks. While the accessibility to technology is critical to corporate success today, a vulnerable IT system can expose you to irrevocable damage. In a recent study by Cisco on Security and Data Leakage, seven out of ten IT professionals held that access of unauthorized websites and applications resulted in almost half of their company’s data loss incidents; while two out of five IT managers confirmed that they have dealt with employees accessing unauthorized parts of a network in the past two years; and almost half of the employees surveyed admitted sharing work devices with others without supervision
The increased focus on ICT GRC necessitates enterprises to govern ICT in a consistent manner in order to ensure compliance to known and unknown legislation and standards. Megahertz has the necessary competencies to institutionalize a framework and implementation plan for ICT GRC.
- Organizations today need a systematic approach to defining and managing IT GRC initiatives. The Megahertz solution has enabled leading corporations in diverse industries to make the shift from isolated IT compliance initiatives and departmental silos of IT risk-related information to integrated enterprise-wide strategy for IT GRC management. Providing the industry best solution
- Identifies, Assesses, and Mitigates Key Business Risks in IT: The Megahertz’s holistic IT GRC model enables an organization to identify, measure, monitor, and control its exposures to inherent business risks in its IT infrastructure. Establishing a proactive IT security and risk framework, the solution provides a systematized process for anticipating and controlling IT risks resulting in reduced downtimes, system failures, and performance variability.
- Delivers Value to the Business: With the Megahertz’s IT GRC model, organizations can streamline and standardize end-to-end IT processes and controls, leading to enhanced productivity and increased savings in terms of cost and time. Enforcing best-practice segregation of duties, IT configuration, and change management procedures, the solution monitors an organization’s key application and network controls – safeguarding its critical internal applications and highly sensitive data. The solution ensures that the organization’s resources are focusing on the issues that have the greatest urgency and potentially the greatest impact on the business; and that the investment in IT is really meeting its objectives.
- Ensures Transparency and Visibility: The Megahertz solution improves visibility across the organization, providing the basis for sound strategic decisions. The solution promotes the analytical and data management efforts of risk managers to develop reporting protocols that serve both the individual business and the central management team. Tracking policy violations and deficient compliance scores, the Megahertz ‘s reporting protocol ensures real time visibility into the organization’s IT infrastructure.
- Clarifies Personal Roles and Accountabilities: Enforcing clear cut segregation of roles and duties, the Megahertz solution prevents security violations from occurring. The moment there is a security violation, the solution alerts and reports the matter to management in real-time. The solution helps organizations to better incorporate accountability into the work culture of the organization.
- Automates Compliance: Implementing automation for compliance, the Megahertz ’s IT GRC solution makes it easy and cost-effective for the organization to incorporate efficient and effective IT compliance practices within the organization. In addition, the solution uniquely combines software and content for effective and sustainable compliance with embedded best practices templates, access to training content from an expert community, and integration of business processes with regulatory notifications or industry alerts.
- Enables Process and Resource Utilization: The Megahertz solution integrates fragmented IT Governance, Risk, and Compliance activities within an organization, enabling greater utilization of IT processes and resources, and reducing wasted time and money associated with redundant efforts and technical resources.
- Ensures Best Practices Sharing Across Similar Business Processes: The Megahertz solution facilitates continuous risk management learning by enabling business units to share their experience and best practices – internally and across organizations. This supports innovation, capacity building and continuous improvement – fostering an environment that motivates people to learn.