Integrated IT Compliance Solution for Advanced Security and IT GRC

In today’s digital world, ensuring information security is highly important. This is because businesses hold sensitive information about their employees, personal staff details, salary information, client lists, financial results, bank account details, business plans, marketing and sales information, trade secrets, research and other information, etc., that give them a competitive advantage. With cyber-crime becoming increasingly sophisticated and highly pervasive, there is need for protecting the confidentiality, integrity and availability of information. This calls for an effective threat management solution that will protect information and information systems in a much more effective way than normal firewalls, virus scanners and protection suites.

As per the Common Vulnerabilities and Exposures (CVE) database, a dictionary of publicly known information security vulnerabilities and exposures, there are 60,000+ common vulnerabilities, 900+ common weaknesses, 1014+ common configuration errors, over 150,000 security related events, and a large number of application related errors.Hence, with the aim of protecting the interests of the customers, the federal government today has introduced several regulations such as HIPAA, HITECH, PCI DSS, ISO, SOX, ISO, COBIT and so on, which the enterprises have to comply with at any cost. In such a scenario, enterprises require effective IT compliance solutions to assess their level of security and compliance to the latest security and compliance regulations.

Instead of depending on point solutions, enterprises must invest in integrated IT compliance solutions that enable end-to-end integration of advanced security monitoring and IT-Governance, Risk and Compliance (GRC) so that customers have a unified view of both operational security posture and compliance management software. The following are some of its advantages. 

• Solve multiple data-centric information security challenges that include advanced persistent threat detection, data leakage, insider threats, malware analysis, continuous controls verification, and network e-discovery
• Deliver a holistic solution for security and IT-GRC with easy monitoring through an integrated dashboard
• Provide end-to-end automation of all enterprise security, compliance, audit, and risk management needs
• Simplify and reduce the time required for security monitoring, regulatory compliance and the certification process

Thus with advanced IT compliance solution, both government and commercial organizations gain better visibility into threats and risks from multiple sources.

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HIPAA compliance 

Understanding Vendor Management Strategies

Globalization has paved way for expansion of the business enterprises across boundaries. In the process, it has also paved way for opening up of various opportunities for small and medium enterprises, groups or individuals to act as vendors for the large corporate houses. Further, technological growth has given the dynamic business environment networking systems to keep them connected and share business related critical data and information across the network. However, all this e-information needs to be protected from cyber attack.

To guard such vital business information organizations require management solutions, the effectiveness of which lies in the strength of the firewall and information security programs. Designing and developing such strong threat management systems requires a proper understanding of origin of threats and its modus operandi. Selection of vendors and using an effective vendor management system will help organizations alleviate threats and keep a tab of all the links to the network.

Vendors can be defined as a group of workers, independent professionals, consultants or experts, either freelancing or on temporary contract, outsourced by an organization. Gartner’s research on vendor management goes a long way in aiding organizations with the right metrics and relationships required in selecting the vendors best fit the organization.  An effective vendor management system thus enables organizations to control overhead costs, drive service excellence throughout the product life cycle.

For every organization, the important aspect of managing vendors is the ability to share information and priorities with them. However, with threats looming large over the World Wide Web and the risks to corporate networks, organizations need to effectively manage risk and compliance simultaneously while being cost efficient. Leading service providers have worked out effective vendor management processes for these organizations. Such process will enable the global organizations to understand the risks of their business relationships with third-party vendors regarding data sharing or outsourcing.

By integrating effective risk management solutions involving people, policies, process and technology and the structured vendor management approach will help organization establish a continuous communication and alleviate threats while achieving quality service.   The risk management solutions available as an on-demand service from the service providers would provide client organizations the necessary support for managing vendors, cyber-security, operations, and IT compliance.

Vendor management solutions offered by the leading service providers, to protect the global organizations, from various unknown threats,   helps client organization to automatically monitor and manage sensitive data and technical controls. It enables managers to manage the risks involved, assesses vendor risk against best practice standards, derive IT compliance , vendor compliance and risks ratings. By adopting such effective approaches to reduce business risks, organizations can gain a competitive advantage.

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Compliance management solution

HIPAA/HITECH 

Plug Security Breaches with IT Security & Compliance Management Solution

Thanks to the advancements in technology, enterprises today are able to collaborate, communicate, and share information online. Technology has opened up new business avenues and a pool of opportunities for enterprises to explore, expand their businesses, and enhance their profitability. Though technology has made things easier, smoother, and faster for enterprises, it has exposed businesses and organizations to a variety of new and emerging information security risks, like security breaches, data leaks, and cyber-attacks. As a result, enterprises face huge risks and liabilities, which cost them millions of dollars per breach. The following are some of the data breach statistics that clearly point out the need to develop a threat management environment.

* In the first quarter of 2012, there have so far been 93 incidents, exposing 2,140,987 records. (Source: Identity Theft Resource Center)

* In 2011, 37 percent of data breach cases involved malicious attacks and averaged $222 per record. Negligence accounted for 39 percent of reported breaches. (2011 Cost of a Data Breach: United States, Ponemon Institute and Symantec)

* Total number of records containing sensitive personal information involved in security breaches in the U.S. is 544,817,607 in 3,002 data breaches since January 2005. (A Chronology of Data Breaches, Privacy Rights Clearinghouse)

* The average total cost per company that reported a breach in 2011 was $5.5 million. (2011 Cost of a Data Breach: United States, Ponemon Institute and Symantec)

* In the United States, data breach incidents cost companies $194 per compromised record in 2011. (2011 Cost of a Data Breach: United States, Ponemon Institute and Symantec)

Hence, what enterprises need is to invest in enterprise compliance management software that allows their users to access applications and information where and when it is required, without exposing the organization to security threats, data loss and compliance risks.This automated and on-demand integrated IT security and compliance management solution provides end-to-end integration of security monitoring with IT Governance risk management and compliance (IT GRC) using a cloud based delivery model. The following are some of the advantages of deploying IT security and compliance management solution.

* Automates all Security, Compliance, Audit, and Risk management needs

* Ensures faster regulatory compliance

* Combats cyber-security threats with proactive assessment, forensics, compliance and security

* Offers Continuous security and compliance

* Reduces Total Cost of Ownership (TCO) dramatically through automation and governance

* Provides Complete Risk Management

IT compliance solution thus provides a safe and secure environment for enterprises to carry out business activities effectively.

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Attain Regulatory Compliance with Enterprise Compliance Management Software

Today enterprises, both big and small, need to conform to various regulations in order to make their business environment safe and secure. Let's look at some important regulations, the need for compliance with these regulations, and the means of achieving compliance.

Today enterprises, both big and small, need to conform to various regulations in order to make their business environment safe and secure. Let's look at some important regulations, the need for compliance with these regulations, and the means of achieving compliance.

HIPAA Compliance 

The Health Insurance Portability and Accountability Act (HIPAA)was enacted at a time when the healthcare system was rampant with fraud and abuse. When it started getting out of control, the federal government had to step in not only to protect patient information but also to defend interests of the workers, when they change or lose their jobs. HIPAA compliance is necessary for any person or institution that directly or indirectly deals with patient health information (PHI).

ISO 27002 Compliance 

With most of the transactions happening online, there is a huge risk of data being compromised. If the enterprise fails to implement effective security measures, it leads to data breaches and data thefts.One such incident is enough for the enterprise to lose its reputation and goodwill. ISO 27002 compliance helps the enterprises in proving that information security practices are stringently followed and that their information is secure in accordance with an internationally recognized standard. 

GLBA Compliance 

The Gramm-Leach-Bliley Act (GLBA) was enacted to "enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes."Besides, it also protects the consumers' nonpublic information or personally identifiable information. GLBA compliance is necessary as it safeguards information from foreseeable threats in security and data integrity. 

PCI Compliance 

The Payment Card Industry Data Security Standard (PCI DSS), an information security standard for organizations that handle cardholder information,was enacted to reduce credit card fraud via its exposure. PCI DSS compliance is necessary since one slip or compromise could result in huge financial and brand-image losses .

Today' business environment is highly volatile and therefore enterprises have no other go but to conform to these regulations. This can be easily done with the help of enterprise compliance management software that includes all of the security and IT-GRC functions required to achieve compliance. It simplifies and reduces the time required for regulatory compliance and certification processes, while providing complete end-to-end automation of all security, compliance, audit, and IT risk management needs.

Hence, enterprises must invest in effective compliance management solution, as it not only helps them to meet appropriate IT compliance requirements but also to focus on their core business.

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Threat management solutions

How To Implement a Successful VRM Strategy?

Global economic conditions today have caused almost every enterprise to pay greater attention to risks related to their service and supply chain. In addition to that, with the new and expanding compliance regulations many enterprises are also focusing on better ways to manage their ongoing vendor risks and compliance issues.

Global economic conditions today have caused almost every enterprise to pay greater attention to risks related to their service and supply chain. In addition to that, with the new and expanding compliance regulations many enterprises are also focusing on better ways to manage their ongoing vendor risks and compliance issues.

Vendor management is therefore looked upon as a project for staying compliant and efficiently managing third party risks. It is all about attaining the best possible returns and generating additional value from vendor investments. Furthermore, it involves, adopting a holistic approach for monitoring every aspect of the vendor relationship, i.e. from sourcing, selection, performance management to risk and compliance monitoring. Any effective vendor relationship management (VRM) strategy aims at harmonizing the appropriate people, business processes and supporting VRM software to derive the best possible results. It also includes conducting targeted vendor audits to uncover high risk vendors or instances of non-compliance and resolving the identified issues.

In order to ensure successful implementation of a VRM strategy, it is essential for organizations to follow the three essential steps. They are:

* Conduct risk analysis - Organizations need to understand the significance of the vendor to the organization, the nature of activity performed and the innate risks present in it. Only when the risks are recognized appropriate measures can be arrived at.

* Document a vendor relationship contract - All vendor relationships regardless of the risks should be defined in a written contract format in order to avoid any disagreements.

* Supervise the vendors on an ongoing basis - All the vendor policies associated with internal controls and security must be reviewed to determine whether a vendor is following the controls need to be developed as well.

Improve vendor collaboration
Today esteemed service providers specializing in enterprise compliance management software have introduced advanced vendor management solutions that make sure enterprises and their outsourced partners remain compliant. This results in improved collaboration with vendors and other benefits, such as:

* Automates the monitoring of technical controls and critical data
* Manage risks with a Vendor Manager
* Assess vendor risks by using multiple assessment types and library of questions based on best practice standards
* Attain risk, IT security and compliance rating of vendors from assessment results
* Evaluate vendor compliance to procedures and regulations
* Tracks and recognizes non-compliance areas

An enterprise that implements an effective vendor management strategy backed by appropriate vendor management processes, is better positioned to drive growth, manage expenses, and alleviate risk across every department and business unit.

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Compliance Management

HIPPA compliance