Vector
Vector

Choose your topics

Blogs
What is Risk Management in Cybersecurity?

Let’s explore the essentials of risk management in the context of cybersecurity to help you understand how to identify, assess and mitigate cyber threats effectively.

Cyber Risk Management Enterprise Risk Management
Blogs
3 Best Practices for Data Privacy

With more technology comes more data, and with that a greater need for data privacy enforcement. What best practices should you be following?

Data Privacy
Blogs
How to Prioritize Your Third-Party Risks

How can you prioritize effectively and enhance your organization’s security posture? Here are our top tips for setting up realistic, sustainable processes.

Third-Party Risk Management GRC
Blogs
Top Tips to Save Time When Assessing Third-Party Risks

Is assessing third-party risks taking up too much of your time? How can you make the process more effective and efficient? Find out in the latest post from SureCloud.

Third-Party Risk Management GRC
Blogs
The GRC Trends to Look Out for in 2024

Our GRC experts at SureCloud share their 2024 predictions for the world of governance, risk and compliance.

GRC
Blogs
The Top 5 Challenges of Third-Party Risk Management

With the supply chain now seen as a legitimate attack path, what can your organization do? Let’s explore 5 challenges of TPRM and how to overcome them.

Third-Party Risk Management GRC
Blogs
What is Third-Party Risk Management?

What is third-party risk management and how should you approach it? Find out in this post.

Third-Party Risk Management GRC
Blogs
Questions You Should Ask when Preparing For Your First Pen Test

Understand the processes that you and your chosen pentest provider will travel through for your first pen test, from the initial point to the day the test starts.

Penetration Testing
Blogs
TPRM Blog 6-Writing Clear Questions

Our GRC Practice Director explores the importance of clear communication and how to achieve it in your third party questionnaires. Read more here.

Third-Party Risk Management GRC
Vector (7)
Vector-1
Enterprise Risk Management, GRC

Does Integrated Risk Management (IRM) Hold The Secret To Your Competitive Advantage?

Does Integrated Risk Management (IRM) Hold The Secret To Your Competitive Advantage?
Written by

Admin

Published on

20 Jul 2018

Does Integrated Risk Management (IRM) Hold The Secret To Your Competitive Advantage?

 
 
 

Organizations are under pressure to increase efficiency, boost productivity and leverage their agility to gain that elusive competitive edge. However, operating in an increasingly competitive environment, with greater compliance obligations and fighting against the rapid pace of change, this can be easier said than done.

As organizations seek competitive advantage, the changes required to adapt in the market causes the risk environment to become more complicated. For leaders in their fields, it causes pain that needs to be managed with the correct integrated risk management solution.

There’s value in integrated risk management

According to a report published by The Risk Institute, 50% of organizations have increased their risk management support and focus over the last two years, allocating additional funds to internal and external resources. It says:

“Previously risk management was only being done to meet regulatory requirements and to protect the firm against the negative effects of volatility in firms’ business environments. While these views are still a common practice, more firms recognize risk management as a source of both growth and value, and emphasize its use in certain, if not all, areas of the firm. Consistent with these views, firms are moving toward a more centralized approach to risk management.”

Time to take a strategic approach to Integrated Risk Management

To thrive in an increasingly competitive landscape, many organizations are taking a more strategic approach, integrating risk management solutions improve their decision-making. According to Gartner, “By 2021, more than 50% of large enterprises will use an IRM (integrated risk management) solution set to provide better decision-making capabilities to propel digital business.”

Organizations benefit from an IRM solution because they combine technology, processes and data to fulfil the objective of enabling the simplification, automation and integration of strategic, operational and IT risk management (ITRM). Integrated risk management is of such strategic importance that Gartner forecasts the market to grow at a 13.4% compound annual growth rate (CAGR) to reach $7.3 billion by 2020.

SureCloud named an IRM solutions provider

In its report, “Competitive Landscape: Integrated Risk Management Landscape Solutions”, Gartner references SureCloud as an IRM solutions provider.

“IRM solution providers: These offer a broader set of functionalities that address multiple use cases within IRM. Some vendors are more established than others in terms of capabilities, revenue and market presence. However, there are a growing number of smaller IRM solution providers that are successfully competing with established providers by trying to better address customer needs than the bigger providers. For example, providers are using transparent and competitive pricing, flexible licensing model, and a shorter and easier implementation process.”

As a growing business with 12 years’ experience, we offer the most configurable, cloud-based enterprise platform for integrated risk management, SaaS applications and cyber security services and solutions. Over 400 organizations trust us to ensure their security and regulatory compliance. Highly responsive to client and market feedback, we prefer to partner with our customers, which is reflected in our 98% GRC renewal rate.

“SureCloud does a lot more than ensuring we have ticks in all our compliance boxes. The quality of information it delivers enables us to make better informed decisions about relationships with our partners. This helps us to provide the best possible secure service to our customers – something we are passionate about – and to protect the Shop Direct brand.”

Chris McAteer, Director of Compliance and Operational Risk at Shop Direct Group

Discover more about the SureCloud Platform here

SureCloud has been placed on Gartner’s IRM Magic Quadrant for the first time.

You can download your complimentary Integrated Risk Management report here.