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PDFRegulatory compliance pressures, high profile identity theft cases, and recent economic events have led to heightened awareness of the importance of sound risk management. Organizations seek to establish a consistent approach to risk management, establish baselines for determining acceptable risk, and better prioritize risks for remediation.
Results of the Aberdeen Group IT Security: Balancing Enterprise Risk and Rewardstudy, sponsored by TruArx, reveal that organizations with best-in-class risk management programs are more than four times as likely as other organizations to use centralized, automated systems for governance, risk, and compliance.
Key Findings of the Study
Aberdeen’s research shows that companies which use IT GRC software solutions derive the following benefits:
- Identify and assess risk more effectively
- Increase management visibility into current risk status
- Communicate risks to key stakeholders more clearly
- Translate risk assessment data into actionable recommendations, and make faster decisions based on changes in risk parameters
Further, IT GRC software allows them to execute risk management processes more efficiently, reducing operational costs, specifically:
- Eliminated approximately 10% of redundant risk management processes and activities
- Converged stove-piped risk management practices, reducing associated operating costs by 6.4%
"Aberdeen's research confirms that IT GRC frameworks and technologies are invaluable tools, which are being used to help businesses manage successfully in the face of uncertainty and risk," said Derek E. Brink, vice president and research fellow for IT Security, Aberdeen Group. "The top performers are successfully leveraging these tools as part of a risk-based, policy-based approach to balancing enterprise risk and reward."
To find the full version of the IT Security: Balancing Enterprise Risk and Reward survey, please click here
About TruArx
TruArx is a leading provider of cost-effective, easy-to-implement IT governance, risk and compliance (IT GRC) solutions that address over 400 regulations and standards.
TruArx software-as-a-service (SaaS) solutions allow clients to quickly implement and continuously review security to improve protection and reduce the cost of compliance and risk. By implementing these services and solutions, clients can optimize business performance and experience a higher return on risk and compliance program investments.
TruArx is headquartered in Farmington Hills, Mich., with offices in Austin, Texas, Columbus, Ohio, Denver, Colo., Nashville, Tenn., and Washington, DC. For more information, visit www.truarx.com or call 1-800-658-8709.
About Aberdeen
Aberdeen Group is the leading provider of fact-based research focused on the global technology-driven value chain. Since 1988, Aberdeen has been known as the “voice that matters” when it comes to understanding the measurable results being delivered by technology in business.
