Forrester research defines compliance management as “a process of establishing an appropriate set of controls within the IT environment and managing the implementation of those controls”. Going by this definition, it would be appropriate to note that more than half of the enterprises today have un-patched vulnerabilities in their applications (controls) with regulatory compliance still ranking high on their security teams’ agendas. The lookout for an effective and efficient vulnerability and compliance management solution still remains on top of all enterprises’ ‘must do’ lists. Security experts across enterprises are looking for a solution that can provide optimal compliance management without any security lapses.
2011 is the year when enterprises will be facing off on issues related to compliance and regulatory demands. Here is a sneak peek into some issues that could be the focus in 2011 as far as compliance management is concerned:
Enhanced focus on regulatory compliance: The weight of all regulatory compliance issues will remain on IT teams and they will need to be resourceful and competent to fulfill all the industry compliance standards including ISO, PCI Compliance and HIPAA Compliance. With varied susceptibilities existing across hundreds of application silos, there is often zero interaction and communication between these silos, which then leads to incomplete assessment of business risks. Therefore, threats and vulnerabilities could further increase, making IT teams focus even more on matters concerning regulatory compliance.
Emphasis on effective compliance management software: Compliance management software can easily integrate and automate GRC tools by effectively combining compliance workflow with control assessment automation. Ideally a “pay as you grow” solution/model would work best for enterprises because such a model could be easily deployed on the cloud.
Advanced risk mitigation systems–a must for every enterprise: Enterprises need to use a solution which ensures greater flexibility and also seamlessly addresses all compliance requirements effectively. The onus will remain on systems that ensure real-time capturing of transferred data and analyze them for possible threats. Additionally these systems or solutions also need to provide real-time information in the event of any violation.
By efficiently addressing Governance, Risk and Compliance issues across the enterprise, most challenges concerning security can be effectively overcome. And this can also improve bottom line profits. Therefore, it is time for every enterprise to look inward and see if they have sorted out their GRC issues, because only an enterprise which is fully compliant with all regulatory standards can be successful in the long-run.
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