In today's business environment, organisations face the challenge of complying with numerous regulations but still employ manual and improvised IT audit processes that incur high costs with inaccurate results.
Organisations have struggled with as many as 40,000 spreadsheets for a single compliance purpose. Measuring compliance with a spreadsheet is a surefire way to extend the cost, time and resources needed to complete any regulatory IT audit. This approach is often error-prone and does not allow a company to fully view the business relationships between risks and necessary controls. Additionally, the reliability and timeliness of such an approach are limited. And the process starts over for each individual regulation or standard that must be assessed during an audit.
The failure to understand the business impact of IT assets also hampers true risk assessment. Many organisations have blind spots regarding their level of IT risk and degree of compliance, lacking the necessary tools to gain visibility and ultimately achieve compliance for multiple regulations and standards in an automated fashion.