Managing Risk is More Important Now Than Ever

February 20, 2018 4366 Views Gabriel Torok

I just read the Forrester Wave™: Governance, Risk, And Compliance Platforms, Q1 2018.

Forrester reminds us all that “Risk and compliance management is more important than ever, thanks to the increasingly intangible nature of business value and the growing risk of violating customer trust.”

The report evaluated 14 leading GRC (governance, risk, and compliance) vendors: ACL, Enablon, IBM, LogicManager, MetricStream, Nasdaq, NAVEX Global, Riskonnect, RSA, Rsam, SAI Global, SAP, ServiceNow, and Thomson Reuters. What was most interesting to me is that 50% of these leading providers use PreEmptive’s application protection tools as part of their own strategy.

With software applications driving new business models, corporate reputations are increasingly at risk and regulatory fines are skyrocketing. Now is an ideal time to implement a comprehensive risk management strategy.

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Application security can often be viewed by development teams as a time-consuming barrier to finishing a project. In a world where "time equals money", the rush to ship functional applications can overshadow the need to ensure those applications are secure. It is true --- features are what sell software and fixing bugs retains customers and loyalty. Both actions can be directly linked to revenue and profitability. So, what effect does an investment in application security have on a company's bottom line?

The coronavirus crisis is changing human behavior. From the persistent need for social distancing to the potentially permanent adoption of work-from-home mandates, the “new normal” is uncharted territory.

But the growing priority of public health also has knock-on effects in other fields, such as credit and debit payments. While the United Stated has historically lagged behind other countries such as Canada, the United Kingdom and Australia when it comes to the adoption of contactless card transactions, the demand for physical distance now trumps the functional familiarity of swipe-and-signature or chip-and-PIN interactions.

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