Mitratech’s Alyne: The IRM Technology of the Digital Era
In today’s business world, new risk management dimensions like Environmental, Social and Governance (ESG), Third-Party Risk Management (TPRM) and Cyber Resilience are emerging and expanding in importance.
This past March, Gartner released its Emerging Technologies: Top Use Cases in Integrated Risk Management report detailing, as the title suggests, the top use cases for integrated risk management that every decision-maker should be aware of in order to guide their product strategy.
A fully comprehensive risk management lifecycle needs to encompass a variety of use cases to ensure success in its IRM processes. Continuous monitoring, risk quantification, analytics, risk assessments and mitigations are some of the key features a GRC solution should provide to a business. Leveraging new and powerful technologies is of the utmost importance to avoid business disruption and be prepared for this new digital era.
According to Gartner, “IRM (formerly known as governance, risk and compliance [GRC]) solutions provide a vertically integrated view of risk — starting with an organization’s strategy and expanding to its business operations and, ultimately, into the enabling of technology assets — through a range of solutions”. This report further mentions IRM use cases can be divided into two groups:
- Performance & Resilience: Digital Risk, ESG Risk, Vendor/Third Party Risk, Quality Risk and Business Continuity.
- Assurance & Compliance: Internal Audit, EH&S, Ethics & Compliance, Privacy Risk and Legal Risk.
Finding a solution that enables the organization with cutting-edge technology is instrumental to address these use cases and developing a fully comprehensive understanding of all business units, as well as third parties.
As per the Emerging Technologies: Top Use Cases in Integrated Risk Management report, “Gartner recently surveyed an array of IRM technology and service providers to explore the most innovative use cases they currently offer as part of their solution offerings. They observed three IRM use case domains that received the most customer attention and impact — third-party/vendor risk, digital risk, and ESG risk”.
In the ESG space, Mitratech’s Alyne helps you understand your ESG risk exposure, quantify ESG value at risk and provide greater risk insights on your ESG maturity and reporting. Mitratech has created an ESG Risk Framework consisting of 16 ESG megatrends, these megatrends have been further broken down into 95 additional sub-trends, which contain more than 300 individual data points. Learn more here.
In the TPRM space, Mitratech’s Alyne provides visibility into the cybersecurity maturity, resiliency and compliance processes of your vendors. Alyne can provide capabilities that allow monitoring, identification and mitigation of risks within your vendor relationships, supplying the organization with critical insights for informed business decisions. Learn more here.
*Gartner, “Emerging Technologies: Top Use Cases in Integrated Risk Management”, Elizabeth Kim, March 7, 2022.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
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