Many business leaders struggle to efficiently respond to risk and compliance needs because of the complex regulatory landscape, ever-evolving risk scenarios and inconsistent internal processes. It’s only been more recently that organizations have embraced enterprise integrated risk management (IRM) tools to overcome a siloed approach of managing risk and compliance data.
The advent of these tools has brought people, processes and data closer, resulting in enhanced operational efficiency and governance. Enterprises aspire to get a holistic view of the risk and compliance posture of their organizations. IRM tools facilitate this by providing persona-specific context around data.
And, the right data at the right time is essential for business managers to make risk-aware decisions. However, a manager trying to evaluate a technology also must be aware of a technical weakness. It is critical for system criticality, upstream and downstream process information to be available in order to accurately assess the risk. For example, two similar databases with similar vulnerability (one containing personally identifiable information data and the other containing transaction logs) will…
