Page 214 - Cyber Defense eMagazine Annual RSA Edition for 2024
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3. Business Continuity Management
Employ GRC automation to enhance business continuity management. Automating processes related to
business resilience enables organizations to be well-prepared to navigate disruptions while maintaining
regulatory compliance.
4. Third-Party Risk Management
It can streamline third-party risk management. Implement tools that enable continuous monitoring and
evaluation of third-party activities, ensuring adherence to compliance standards and minimizing
associated risks.
5. Operational Risk Management
It enhances operational risk management by automating the identification, assessment, and mitigation of
risks. This proactive strategy fosters a resilient business environment, addressing potential threats before
they escalate and ensuring a robust compliance framework.
6. Continuous Authorization and Monitoring
Enhance authorization and monitoring processes with continuous automation. Implement GRC tools to
ensure ongoing authorization checks and real-time monitoring, maintaining compliance vigilance.
7. Operational Resilience Management
Use GRC automation to strengthen operational resilience management. Automate processes to enhance
organizational resilience, ensuring compliance while efficiently responding to and recovering from
disruptions.
8. Privacy Management
Manage privacy risk and compliance in real time as part of a holistic enterprise risk program. GRC
automation tools enable organizations to effectively address privacy concerns, ensuring compliance and
data protection.
Common Challenges While Implementing GRC Automation for an Organization
GRC automation presents advantages but comes with notable challenges for organizations.
Understanding these hurdles is crucial for a successful implementation.
1. Initial Investment Considerations
Automation can be financially burdensome for smaller businesses. Fortunately, contemporary tools offer
cost-effective alternatives. Therefore, choosing the right software is crucial. Make sure it fits your
organization's size and needs perfectly.
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