Reasonable Risk, a rising leader in Governance and Risk Management solutions, has officially announced the launch of its new innovative Software-as-a-Service (SaaS) platform.
According to certain reports, the stated platform arrives bearing the means to communicate risk to executives, and at the same time, streamline risk management processes for organizations across various industries, thus providing a holistic and practical approach towards risk governance.
More on that would reveal how this particular innovation leverages Duty of Care Risk Analysis (DoCRA) methodology to offer a sensible and defensible cybersecurity position which, on its part, aligns with evolving regulatory requirements, including the SEC Cybersecurity Rule, enacted on July 26, 2023.
Thanks to that, it can help businesses identify, define, prioritize, and mitigate risks in a way that preaches legal defensibility and regulatory compliance at scale.
Talk about Reasonable Risk SaaS Platform on a slightly deeper level, we begin from its promise to provide comprehensive risk management. This translates to how the solution facilitates risk identification, definition, prioritization, and reporting, bringing forth a holistic approach in the context of achieving “reasonable security” as outlined by regulatory authorities.
Next up, we have executive communication tools coming into play. In essence, the new platform effectively simplifies complex risk information into familiar business terms to provide executive-level program status updates that enable informed decision-making and effective budget approvals.
Complementing that would be the presence of a roadmap for risk reduction, as the platform showcases how overall program risk is being reduced to an acceptable level over time.
Then, there is a facility dedicated towards providing enhanced security risk tracking. You see, the platform banks upon several collaborative features, project linkage, and progress tracking to ensure continuous improvement in risk mitigation efforts, and therefore, replace those traditional spreadsheet-based risk registers.
Hold on, we still have a few bits left to unpack, considering we haven’t yet touched upon the availability of a dashboard, which is well-equipped to generate for you an overview of your organization’s risk posture. Here, users can come expecting an easy-to-use Risk Register with DoCRA-based scoring for effective risk prioritization. This includes user roles, permissions, and audit logs for better control, as well as alerts for unresolved risks.
We also haven’t touched upon the prospect of accessing remediation projects, covering tasks and updates with built-in dependencies that can come in handy when the agenda is to spot acceptable levels of risk and map unacceptable risks to remediation projects with ongoing tracking and updates.
Such a setup, all in all, makes it possible for users to clock clear risk reduction roadmaps and real-time risk scoring just as tasks are completed.
Rounding up highlights would be a feature focused on executive reporting and budget control. This feature allows instant generation of executive-level reports and presentations. On a practical note, pre-mapped field data is imported to show meaningful findings, risks, projects, and tasks. Not just that, users can also seamlessly visualize program progress, risk reduction, budget requests, and variances.
“Our platform is built to be both powerful and easy to use,” said Jim Mirochnik, CEO of Reasonable Risk. “We know that risk management can be a challenge, especially when it comes to time and resources. Our solution can be implemented in less than one week, provides a streamlined way to manage risk, and helps cybersecurity leaders communicate more effectively to non-technical executives. This helps cybersecurity teams focus on what really matters: making smart, informed decisions about what is reasonable and protecting their business.”
