New Delhi: India is among the top five countries with the greatest number of cyber-attacks, according to The Indian Computer Emergency Response Team (CERT). The Ministry of Electronics and Information Technology (MeITY) have reported 7 lakh cyber-attacks in commercial and legal entities till August 2020. Hence, dealing with a constant barrage of security risks and an ever-growing regulatory compliance landscape is a Challenge for CISOs(Chief Information Security Officers).
Offering a promising solution for the challenge, ZServiceDesk has launched a versatile and affordable Integrated IT GRC, that helps in figuring out the right balance by looking at governance, compliance and risk at the same time. IT GRC with automation capabilities sends alerts and provides intelligent data to security leaders to define actions further to be taken in order to reduce risk surface.
According to a report, most organisations aren’t quantitatively managing their IT risk program, and less than a third (31 per cent) review IT risk assessment every quarter. Approximately 15 per cent perform this process monthly. In the majority of cases (71 per cent), the CISO does not participate in the creation of IT risk program.
As per CISCO Annual Cyber Security Report, 53% of all cyber-attacks led to financial damages of more than $500K (including lost revenue, customers, opportunities, and out-of-pocket costs among others) for organisations in 2018.
Hence, implementing IT GRC has become a need of the hour not only for IT, banking and financial services, but also for manufacturing, pharmaceutical, retail, hospitality, R&D and IP-based organisations, Regulatory bodies, including government agencies, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, trade associations and industry bodies.
Ritika Sahani, Head – Sales & Marketing, ZServiceDesk informed that the high cost of IT GRC integration has been a restraining factor for 97 per cent of organizations in India from using the most essential security service. Aiming to make the IT GRC Tool accessible for both Large and Small
Enterprises, we have come up with affordable IT GRC having all broad feature set of a higher-priced competitor, almost at one-fourth cost.
Further, she added, ZServiceDesk IT GRC, an Integrated approach that allows CISO to manage the entire lifecycle of Risk management and other relevant components to establish an effective governance structure. Organizations can assign the stakeholders, create Defensible Cyberspaces, Create Assets, Assign Risk Levels, Identify Risks, Assess Impact, define mitigation strategies, Apply & Implement Controls, Create relevant Policies, do the vendor risk assessment, create and track audit activities, map with Compliances and Regulatory requirements such as ISO 27001, PCI-DSS, HIPPA etc.
It can also perform data validation and auditing operations in the background. This means your team won’t have to spend time on manual processes and can instead focus on long-range innovations and more impactful projects. It also ensures that the information you’re reviewing is thorough, consolidated, and free of human error.