classic | mobile
Follow us on:
Follow us on Facebook  Share via Twitter  Share via LinkedIn
 

Search...
Hi-Tech Security Solutions Business Directory
Residential Estate Security Handbook 2018


Turning data into actionable ­insight
October 2018, Security Services & Risk Management

Governance, Risk and Compliance (GRC) programmes are no longer a ‘tick-the-box’ exercise for organisations. Information technology advancements are better enabling GRC management software to become sophisticated enough to anticipate likely incidents and implement better controls, while also offering insights that can inform business opportunities and strategy.

GRC professionals are now adept at gathering, administering and scrutinising a vast and contrasting volume of data from multiple sources in order to fulfil their mandate of addressing enterprise-wide risks.

Bosman Stramrood.
Bosman Stramrood.

Bosman Stramrood, GM: Lexis GRC at LexisNexis, says: “Sustained technological innovation and disruption will ensure that the GRC function continues to evolve. Big Data and advanced analytics are increasingly helping risk and compliance professionals to uncover substantial risks earlier, but can now also provide the actionable business insight that boards and executives need to facilitate informed decision-making and ethics and integrity management on behalf of the organisation.”

Stramrood adds that company leadership must, however, first understand what insights they need in order to make good strategic and operational decisions. Companies that invest in and effectively draw value from their data will achieve clear gains over their competitors.

“The available data can help to pinpoint trends and parallels that will guide positive changes in organisational conduct. This organisational information can then be further enriched with external sources,” he says.

Just some of the advanced technologies now available include data visualisation and statistical analysis.

GRC data enables the business to retrieve and manage a vast amount of information that can aid in building a more risk savvy organisation. Boards can then take positive actions, strengthening controls, changing policy and procedures, and completely mitigating similar reputational threats in the future.

“Solutions that seamlessly combine available technologies with numerous data sources are those that will enable enhanced, sharper, real-time and fact-based decision-making for executive boards,” says Stramrood.

An example is Lexis GRC, which now boasts improved and interactive business intelligence dashboards as well as data visualisation tools. These bring case management to life through intuitive, audience-appropriate reporting views and interactive capabilities that aggregate or isolate risk hotspots.

Graphical reports on data from all modules is instantaneously available on management dashboards which could be used for day-to-day status updates, meetings, board-packs, etc. and exported in predefined, multi-format reports from PDF to Word to Excel. An action manager across components allows the user to set up tasks and actions from all components to ensure follow up, tracked history and audit trails. Notifications integrate with the user’s e-mail system.

This customisable software solution enables users to determine the modules that are most important to their business – starting with creating their own risk registers from the legal universe provided and isolating relevant acts and legislation that apply to their organisation. From there, the sophisticated GRC software will help identify areas that could potentially impact the business – and can be scaled up as the business changes.

For more information, contact LexisNexis South Africa, +27 31 268 3284, www.lexisnexis.co.za/governance-risk-and-compliance/grc-system


Credit(s)
  Share via Twitter   Share via LinkedIn      

Further reading:

  • Breaking par for security at ­Woodhill
    October 2018, Technews Publishing, This Week's Editor's Pick, Integrated Solutions, Security Services & Risk Management, Residential Estate (Industry)
    Xone Integrated Security was selected to provide a full security service to the luxurious Woodhill ­residential estate
  • Keeping guarding personnel on mines safe
    October 2018, Betatrac Telematic Solutions, Technews Publishing, Instacom, Active Track, Mining (Industry), Security Services & Risk Management, Products
    They patrol your property in the dead of the night, often risking life and limb, but what can mining companies do to offer their security guards some safety while fulfilling their dangerous duties?
  • More efficient building ­management
    October 2018, Johnson Controls, This Week's Editor's Pick, Integrated Solutions, Security Services & Risk Management, Products
    Johnson Controls Enterprise Management platform gives building owners and operators powerful new tools to showcase energy conservation.
  • Life-saving mining technology
    October 2018, Mining (Industry), Security Services & Risk Management, Products
    Technology is now available in South Africa that includes an early warning device that can notify miners of danger earlier, as well as radios which can be used in places where communication is not possible.
  • Wearable panic device
    October 2018, Technews Publishing, This Week's Editor's Pick, Security Services & Risk Management, Products
    MyLifeline, part of Intelligent Monitoring, is a wearable IoT device with a panic button used to call for help from any location.
  • IoT needs access management
    October 2018, CA Southern Africa, This Week's Editor's Pick, IT infrastructure, Security Services & Risk Management
    Sagan Pillay, CA Southern Africa security solution strategist, highlights the security risks associated with the growth of the Internet of Things.
  • Tax season is financial crime season
    October 2018, Cyber Security, Security Services & Risk Management
    Carey van Vlaanderen from ESET offers some steps you can take to keep the scammers at bay during financial crime season – and all year round.
  • Logistics transport and delivery platform
    October 2018, News, Asset Management, EAS, RFID, Security Services & Risk Management, Products
    Fastvan has launched an end-to-end on-demand SaaS platform to solve the delay, middleman and paperwork problems that come with traditional shipping.
  • The ever-changing dynamics of risk management
    September 2018, Technews Publishing, This Week's Editor's Pick, Security Services & Risk Management, Transport (Industry), Conferences & Events, Associations, Training & Education
    Hi-Tech Security Solutions was at the TAPA South Africa 2018 conference once again. This is a short summary of the presentations delivered on the day.
  • Securing cargo for export
    September 2018, Technews Publishing, Transport (Industry), Security Services & Risk Management
    Hi-Tech Security Solutions discusses the air cargo handling process and what is done to ensure goods are secure and don’t pose a danger.
  • Integrated anything
    September 2018, Technews Publishing, This Week's Editor's Pick, Integrated Solutions, Security Services & Risk Management
    Babylon is designed to manage access automation systems; however, its utility goes beyond management to include automation and customisation capabilities across technology verticals.
  • The human factor in control rooms
    September 2018, Technews Publishing, Security Services & Risk Management
    What kind of person does it take to watch multiple video screens and make quick and responsible decisions when an incident occurs?

 
 
         
Contact:
Technews Publishing (Pty) Ltd
1st Floor, Stabilitas House
265 Kent Ave, Randburg, 2194
South Africa
Publications by Technews
Dataweek Electronics & Communications Technology
Electronic Buyers Guide (EBG)

Hi-Tech Security Solutions
Hi-Tech Security Business Directory (HSBD)

Motion Control in Southern Africa
Motion Control Buyers’ Guide (MCBG)

South African Instrumentation & Control
South African Instrumentation & Control Buyers’ Guide (IBG)
Other
Terms & conditions of use, including privacy policy
PAIA Manual
         
    Mobile | Classic

Copyright © Technews Publishing (Pty) Ltd. All rights reserved.