Logicalis, today announces the launch of GRACE (Governance, Risk and Compliance Engine), an automated policy management solution that enables organisations to simplify and reduce the operational risk and burden of maintaining and enforcing best-practice compliance and governance.
Operated via a central portal, GRACE eases the process of creating, modifying, authorising, reporting and tracking multiple policies, procedures and guidelines associated with compliance, governance and disaster recovery strategies.
Tom Kelly, managing director of Logicalis, comments,
“Compliance has penetrated every department of a business, from HR, finance and legal through to marketing and the supply chain.
“Failing to comply with legal and regulatory obligations such as FCPA (Foreign Corrupt Practices Act) and anti-discrimination legislation is a significant operational risk issue and GRACE is designed to enable our customers to considerably reduce this risk.”
Whilst compliance stands as a wider business issue, the IT department is often called upon to maintain the numerous policies, and according to Kelly this has a two pronged effect:
“Firstly, valued IT resource is diverted from delivering innovation back into the business, subsequently impacting that organisation’s commercial and competitive development; and secondly, IT staff can quickly become disillusioned and dissatisfied by mundane operational tasks, resulting in employee churn.
“Implementing automated software that can multi-manage compliance policies will enable IT departments to get on with what they are challenged daily by stakeholders to do – innovate to improve profits.”
Presented as a three-step programme – create, distribute, report – GRACE aims to transform policy delivery, awareness and compliance, by enabling organisations to efficiently and cost-effectively deliver powerful and consistent policy messages.
In doing so, businesses will be empowered, not hindered, by the exponential growth of commercial regulations.
“Furthermore,” adds Lewis Honour, head of security, operational risk and compliance at Logicalis, “the automated nature of GRACE ensures that policies continuously evolve and adapt to industry and company changes.
“This not only helps organisations avoid the financial impact of contravening compliance measures, but the automated upgrades, which require user consent, increases awareness across the business.”
In addition to providing a fully automated and integrated system for managing policy management activity, GRACE incorporates the following features:
· Simple user interface
· Role-based enterprise security model
· Dashboard & drill-down reporting
· Core database
· Directory integration
· Management of user groups
· Enhanced workflow capabilities
· Improved document editing and management
· Multi-language support
· Alerting and escalation
· Full and secure audit trails