Industry regulations and market volatility are highly dynamic. Complying with the new regulations and responding to changes can be daunting. With business going global, there is a massive increase in first-line employees using various tools and working in silos. Companies struggle to ensure these employees adopt regulatory changes without imparting extensive training.
Businesses need a more holistic and consolidated view of risk and compliance across the enterprise with data provided by employees and suppliers outside the organization.
There is an ever-growing need for faster delivery of new use cases to address the volatile industry! iTechGRC’s AI-driven IBM OpenPages solutions for governance, risk, and compliance (GRC) help businesses to manage and mitigate risk and regulatory compliance challenges.
We are an IBM Gold sales and implementation RegTech partner and an expert in utilizing AI capabilities from IBM OpenPages with Watson to consolidate disparate GRC systems and centralize siloed risk management functions in one integrated solution. As a result, companies don’t need to spend on maintaining multiple solutions.
Some of the key capabilities of the iTechGRC IBM OpenPages solutions that address market challenges include:
The solution provides out-of-box and configurable content that improves the speed and efficiency of the GRC processes. A single-pane view of risk across the organization creates GRC transparency. Visual representation of data via UI and embedded workflow drives seamless collaboration between business and IT.
Utilizing IBM OpenPages with Watson, iTechGRC enables clients to move from reactive to predictive mode. Some of the key business value and differentiators of the solution includes:
While historical data can inform future decisions, emerging threats must be weighed more heavily than before and put into the context of evolving risk postures. There is also a growing need for increased connection to related data. Greater availability of data, facilitated by real-time integrations, makes it possible for compliance experts to monitor a wide variety of sources.
GRC provides aggregate insights into systemic controls, processes, and compliance issues for dynamic cyber risk and data protection. This requires systems to have a connected library of risk and compliance items that can be viewed across different business dimensions. With OpenPages with Watson, IBM addresses these needs, helping clients move from a “what’s happened” mode to a “what’s coming” mode.
Targeted GRC capabilities within a single, highly integrated solution to meet specific GRC challenges, with the option to buy only the needed capabilities
Automate the processes involved in the identification, measurement, monitoring, analysis, and management of operational risk. Track internal loss incidents, near misses, and identify root causes and ownership. Create and monitor KPIs for all key risks and controls.
Develop a central repository of consolidated regulatory requirements. Map internal taxonomies and business structures with regulatory requirements and share regulatory data with relevant stakeholders. Get a 360-degree view of regulatory change management.
Maintain a consolidated library of laws, regulations, and best practices. Use AI suggestions to map regulatory requirements to impacted policies to simplify the creation, review, approval, publication, and attestation of the policies, and manage exceptions
Track critical IT incidents and perform root cause analysis. Map IT controls with international regulatory and compliance requirements. Get interoperability with enterprise infrastructure management and third-party applications.
Easily create and maintain audit scope and objectives. Manage a unified library of electronic work papers and automate the work paper review process. Easily retrieve audit reports with the required data from the central repository.
Organize a comprehensive model inventory and track issues associated with models, and manage the workflow of the models and validation life cycles. Supervise the execution of the audit and tracking of resources. Periodically execute model attestations and risk assessments.
Consolidate data related to business continuity management at one location for a uniform enterprise approach. Improve consistency across business units with customizable out-of-the-box views and workflows.
Safeguard confidential information shared with vendors and avoid misuse of direct access to network resources. Reduce complexity in vendor-client relationships and address the risks associated with their products and service delivery.
Simplify the process and reduce the costs of complying with global financial reporting regulations. Automate workflows to route tasks to key stakeholders throughout the enterprise. Get greater transparency with intuitive dashboards and dynamic reports.
Consolidate and manage an inventory of sensitive data across the organization. Demonstrate compliance to auditors by maintaining a record of completed privacy assessments performed on data assets. Utilize the Questionnaire Assessment feature to deploy privacy assessments.
Easily align ESG compliance and disclosure assessment cycles across the organization. Track achievement of objectives via key indicators. Stay updated with crucial regulatory changes across ESG with regulatory and industry changes event feeds
Agile, Waterfall, or a combination of both - we discuss your requirements and suggest the best methodology for implementation.
We work with your development team to make real-time adjustments to the OpenPages in your development environment by doing a gap analysis.
With the help of instructor-led 8-hours long training courses, we guide your implementation team through the OpenPages configurations.
Our efficient methodology and deep knowledge of IRM best practices help you get a rapid return on your project and software investment.