How Business Continuity, Information Security and Risk Management Collaboration Bolsters Business Performance

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Technology Solutions

Technology Solutions for Governance, Risk, Compliance and Business Continuity Convergence

A BCM solution within an integrated GRC platform helps in managing business continuity requirements, strategies, tests, and plans and responding to business interruptions. Content packs built around the International Standards Organization (ISO) 22301 requirements can be tailored to organizations, according to their specific needs. Typically, content packs include policies, processes, controls, guidelines, reporting templates, checklists and eLearning, all at par with ISO 22301.

An effective BCM solution depends on a strong asset repository, and there is huge flexibility in a GRC platform for bringing in assets and integrating them with configuration management databases and asset inventories. GRC technology takes a risk-based approach to business continuity and provides a comprehensive solution.

By Yo Delmar, vice president GRC Solutions at MetricStream, and Harvey Betan, associate principal at Risk Masters Inc.

Business continuity programs are often considered on a standalone basis, but recent incidents that involve security breaches highlight how business continuity, disaster recovery, security and risk management teams are compelled to work more closely together in order to understand the true likelihood and impact of potential disruptions to the business. Let's consider the situation, for example, when an IT infrastructure is compromised or made unavailable (e.g., DDoS attack) to an online banking site or an online retailer. Companies that have been impacted by these types of incidents have experienced, in some cases, dramatic effects on their business operations and revenues. To ensure that the business sails smoothly, more and more organizations are beginning to converge IT security, risk management and business continuity teams in order to establish and agree upon a common framework and processes for crisis management.

Today, business continuity planning and management goes beyond the physical continuity of the business, encompassing areas such as e-continuity, as well. We live in an era of e-business, with a growing percentage of business transactions moving through the Internet, extranets, virtual private networks and cloud service providers. The complexity of this ecosystem has given rise to a larger threat surface, with a higher number of threats to digital information and traffic flows. Over the last two to three years, the rise in cyberattacks has driven an integration of security with operational and enterprise risk management. More recently, business continuity and disaster recovery teams have become an increasingly key partner in these collaborative teams as a natural fit in the larger concept of a 360-degree risk management.


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