Toronto, Canada (PressExposure) April 15, 2008 -- Toronto-based Informatica Research has announced that the vast majority of organizations currently adopting information risk management, security management, privacy fair information practices and business continuity planning are implementing overlapping and redundant controls.
Informaticaâs president, Claudiu Popa is an authority on information risk management and sees the issue as a problem directly related to de-centralized IT governance and wrongsourcing: âThe security and privacy controls behind many companiesâ efforts to comply with standards and legislation are overlapping. We are seeing this only a third of the time now, but this number will grow to 75% or 80% over the next 12 months. We are seeing a lot of wasted effort in up to 90% of cases, multiple initiatives implementing similar controls, mounting costs related to monitoring, testing and remediation. Generally speaking, when executives delegate compliance responsibilities and in-source complex information risk initiatives, youâre going to have a problemâ.
Overlapping controls, such as those implemented to support legislative requirements for PCI DSS, GLBA, Sarbanes-Oxley/Bill 198 and diverse privacy requirements can put an unbearable burden on IT and operational resources â in over 60% of cases - to the point where at least one of two situations occurs: productivity and profitability are impacted at the enterprise level or the effectiveness of the companyâs security and privacy activities is reduced because such intense effort is not sustainable. Many companies compound the problem by wrongsourcing: outsourcing their core competencies and in-sourcing complex, specialized projects involving information security and privacy compliance.
Mr. Popa believes that over the next 12 to 18 months, enterprises will turn to unified compliance solutions for efficiency, effectiveness and cost savings: âWe are seeing a lot of interest and a few groundbreaking projects involving unified compliance. This makes sense, because we have already done the work of mapping controls to aggregated compliance requirements, so the incremental cost savings are phenomenal while the costs of monitoring and enforcement have dropped proportionally.â Informatica offers a Unified Compliance Framework and a Unified Privacy Framework to streamline information security and information risk management efforts. This solution looks directly at the underlying key controls that satisfy compliance requirements and matches them with those that need to be in place for other structured frameworks, standards and best practices.
Informaticaâs management consultants, IT experts, information risk professionals are certified and experienced in the delivery of flawless compliance solutions whose applicability ensures immediate cost savings along with a scalable framework that spans the enterprise. Informaticaâs exceptional Unified Compliance solutions for information security and privacy are the most advanced solution of its kind and deliver between 25% and as high as 82% in cost savings over traditional risk management approaches. The FlexProtect 365â¢ security management framework is the overarching solution that centralizes efforts, consolidates communications and risk-related operations while keeping costs low to maximize value delivery through optimized information risk management.
The core of the unified compliance solution is the process by which business objectives are derived from the strategic direction that is driven by compliance requirements. Once key controls are derived, they are matched to Informaticaâs proprietary database of policies, procedures and processes to ensure that each one is acceptable by professional auditors and evidence collection is both sufficient and adequate to support monitoring requirements. Complete information risk solutions are available to any organization or government entity but are absolutely critical for companies that collect and use sensitive client data. Informatica Research shows that organizations that even partially implement unified compliance, whether for security or privacy purposes are seeing efficiency gains and cost savings of 25% within the first 3 months and approaching 50% after 7 months.
FlexProtect 365â¢ Security Management Framework
Informatica Securityâs FlexProtect 365â¢ is a the evolution of the companyâs proven security management suite that encompasses all aspects of information risk, security and privacy practices, legislative compliance and staff education. Companies regard FlexProtect 365â¢ as the path of least resistance to traditionally lengthy and costly efforts towards compliance with such diverse standards as PCI DSS, HIPAA, PIPEDA, Sarbanes-Oxley and GLBA. IT and security governance, decision support, incident management, business continuity and disaster recovery, physical and logical security are all addressed under the FlexProtect 365â¢ umbrella. This cohesive set of enterprise activities calculated to maximize compliance effort effectiveness, budgetary efficiency, technical capability and human resource allocation. FlexProtect 365â¢ is the only solution that combines enterprise capabilities with Informaticaâs domain leadership to reliably deliver complete, on-going protection across the enterprise.
About Informatica Security Corporation
Informatica Security and Privacy is a leading information risk management consulting firm focused on providing unmatched expertise to enable client organizations to control and mitigate information security risks, meet compliance challenges, alleviate the effects of wrongsourcing and adopt proven standards and best practices for exceptional governance. The firmâs FlexSecureâ¢ risk assessments and professional audits, FlexProtectâ¢ security management, STORMâ¢ (Scalable Techniques for Operational Risk Management) and WorkLifeâ¢ Enterprise Risk Education solutions are proven best-of-breed solutions that scale to meet the business and compliance requirements of diverse industries.
For Unified Compliance solutions visit: [http://www.informaticasecurity.com/solutions/unified_compliance.html]
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