risk management tightrope shoes

ACL moves risk management to the cloud

Running any large enterprise involves some level of risk. Computers can fail naturally, people can make mistakes, and hackers can attack your network with the intent to cause damage. Responding properly to threats can all but eliminate negative consequences. Doing the wrong thing can let the situation spiral out of control.

Having a plan in place is the first step, and that is where a good governance, risk management and compliance (GRC) package comes into play. ACL Services has announced the launch of ACL GRC, a data-driven, cloud-based GRC solution. ACL GRC integrates risk management objectives with data-driven analysis and decision-making. The software replaces shared-drive and fragmented technology approaches to GRC management, while promoting best practices, communication and alignment of disparate GRC functions across any organization.

“Traditional audit roles are expanding to risk and compliance, creating a need for GRC technology to support the three lines of defense in effective risk management: operational management, risk management and compliance functions, and internal audit,” said Richard Chambers, President and CEO of the Institute of Internal Auditors. “Bridging the current gaps between these lines of defense is critical to improving communication and integrating GRC activities across an organization.”

ACL GRC helps with risk management by performing enterprisewide risk assessments to drive mitigation efforts across all risk and control groups. For project management, it helps with planning and organizing engagements for all audit, risk and compliance management programs, through to execution and reporting, including global tracking and reporting of issues. And for results management, it shares and manages data analysis results from ACL Analytics and drive remediation activities, and tracks outcomes, enabling informed, data-driven risk assessment, prioritization and decision making.

ACL’s software-as-a-service (SaaS) model can reduce IT burden for organizations, while providing security and centralized, constant cloud access from anywhere, the company said. ACL GRC also serves remote and mobile users through its smart-phone and tablet interfaces. It supports data-driven decision-making through integration with ACL Analytics, linking transaction level information to enterprise level risks. The new offering will integrate with server-based ACL Analytics Exchange to enable continuous risk monitoring.

A free webinar on June 19 will demonstrate how to simplify GRC using the ACL package.

 

About the Author

John Breeden II is a freelance technology writer for GCN.

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