In order for any security system to provide enterprise value it should provide comprehensive audit reporting. Audit reports are used not only by management for reviewing operations and operational efficiencies but also for legal support and most importantly meeting compliance requirements. Audit reporting is a key requirement for many organizations that need to meet SOX, PCI, HIPAA, GLB or other regulatory compliance requirements. Audit reports and audit reporting can demonstrate Segregation of Duties (SOD) required by must regulations. Audit reporting also allows managers to have a quick view into what user has access to what applications, or which use has used what applications, so that the managers can adjust access as needed and when needed. Audit reporting has to be a key component of any security system.
In order to meet regulatory and compliance requirements many organization need to address Governance. Today, the term GRC (Governance, Risk and Compliance) implies activities for enterprise risk management and corporate compliance to meet applicable laws and regulations.
Governance models attempt to deal with how critical information is reached to the senior executives in a timely manner, appropriate decisions are made, and control mechanisms are implemented. The objective is to enable the organization execute on management directives while providing visibility and accountability.
Risk management is intended to identify, analyze, and respond to risks. GRC is mainly focused on external legal and regulatory compliance risk and CloudAccess provide the solutions to help with the visibility of GRC activities.
Compliance has been a growing and complex issue in order to meet the stated requirements. Whether these requirements are external (e.g. government, industry standard bodies, etc.) or internal (operational, legal, financial, etc.) an organizational can achieve compliance through processes and systems that can identify non-compliant processes, people or systems, and take corrective action.
When Sarbanes-Oxley (SOX) Act was approved publicly listed companies received a mandate to meet SOX compliance. However, over time the focus of GRC has evolved to delivering business value beyond meeting compliance requirements by improving decision making from better visibility into operations. PCI and HIPAA have had similar impact on organization that need to meet these requirements.
The three most common GRC headings are Financial, IT, and Legal. IT GRC Management market into these key capabilities.
CloudAccess if focused on delivering solutions that meet audit compliance requirements under the GRC umbrella. CloudAccess SingleSource platform is a comprehensive and affordable cloud-based security solution that includes SIEM for Security Information and Event Management, Log Management for compiling, securely storing and reporting on any kind of IT event, Identity Management for user provisioning and de-provisioning as well as providing audit and compliance reports, Web SSO and SaaS SSO for Access Management and the ability to control access to applications and password control.