By deploying our industry-leading GRC solution, the financial services unit of a multinational conglomerate was able to automate risk assessment and decision-making processes—increasing the efficiency of its risk and compliance team by 70%. The client overcame its specific challenges, eliminated human error in risk assessment, and empowered the risk and compliance team to focus on its most pressing needs.
Under pressure to grow its business in the face of tightened regulatory requirements and heightened scrutiny from federal agencies, this company needed a solution that would enhance and integrate risk management functions while enabling the division to ensure compliance and reduce costs. GRC regulations and best practices are constantly changing in response to evolving risk. Read this white paper to learn more about identifying and managing emerging threats.
The client’s most pressing GRC inefficiencies included:
- Assessment results and next steps calculated and defined via cumbersome Excel files
- Protracted response time in assessing and mitigating risks with no single repository for aggregating risks
- Siloed functioning and communications among risk and compliance teams
- Inability to track delays and leakages
- Duplicated efforts and increased costs as a result of managing and maintaining risk and compliance initiatives separately
- Lost productivity and lack of shareable or reusable components
To meet these needs, the client tapped into TruOps’ two decades of experience in cyber risk management and leveraged the Risk Management and Risk Register Modules. As an all-in-one solution, TruOps was used as a single, unified framework to give the client a holistic view of risk management across the enterprise, which prevented siloed communications and caused efficiency to skyrocket. To learn more about the benefits the client realized, read the case study.
Are you struggling with cumbersome, manual processes and siloed communications? Find out how TruOps can establish a consistent, comprehensive risk management framework for your company by setting up a demo here.