Reimagining Risk Cloud

It’s no secret that the amount of change we’ve collectively experienced over the last 18 months has significantly impacted the environment in which you, as risk and compliance professionals, do your jobs. But these changes bring new opportunities and showcase the critical impact that you all can have on your organizations. 

As one LogicGate employee Danny Hartman says, “it’s a great day to be in GRC,” and here at LogicGate, we firmly believe that. Below are some highlights from our recent product showcase presentation during the Agility 2021 conference.

With New Risks

The acceleration of digital transformation due to COVID-19 is creating new risks entirely. We’ve gone from paper-based processes to spreadsheets and now have cloud hosting platforms and the ever-growing list of purpose-built SaaS solutions. There is a proliferation of data in systems, with third parties and fourth parties that have access to data from your organization and your customers.

Come New Opportunities

New opportunities such as data that informs your risk and compliance programs—this is more readily available than ever. At LogicGate, we believe that audits and assessments need to move from being a point-in-time, resource-intensive activity done quarterly or annually. To one where real-time data is available at your fingertips to streamline audits, understand the posture of your controls, and ultimately reduce risk.

With Increased Complexity

The sophistication in breaches is growing, and the teams and budget to manage information security risks are increasing. The number of frameworks and regulatory requirements is ever increasing. Assertive regulators and the rise of privacy are forcing a lot of change to your processes. We believe in a world where all GRC teams can collaborate effectively on their work in a single platform. Where teams can move with agility to respond to this ever-changing world. And make better decisions about where they allocate resources to help reduce risk through holistic GRC.

Come Better Results

We believe in a world where organizations can move with agility to respond to this ever-changing world. The growing trend of Environmental, Social, and Governance (ESG) is another example of consumer demand placing pressure on companies for more transparency and accountability. We believe in a world where building trust with your customers and the market is something that is proactive and not reactive. And given these trends, fully understanding the impacts of risks and improving how we communicate risk across the organization is becoming more complex. 

These trends are ones we’re acutely aware of from talking with you all, our community of amazing customers. Not only have we anticipated these changes coming, but we’ve been investing in next-generation capabilities to help reimagine risk. And we wake up every day thinking about how we can help companies run more effective GRC programs by elevating the risk and compliance functions because effective GRC programs improve organizations.

Where We’ve Been and Where We’re Going

In the past year, we’ve accelerated our pace of innovation. With more than 86 features delivered in the last 12 months, Risk Cloud is becoming one of the broadest and deepest GRC platforms on the market. We’ve also built up the ecosystem surrounding the platform. We’ve launched 21 new applications, frameworks, and data catalogs available on the Risk Cloud Exchange to help you get started with new GRC initiatives and great partnerships that deliver real value.

To realize our shared vision of GRC, we’re anchoring our investments in these six key areas:

1. Automations that make your lives easier and provide a central source for your data from all of your critical systems
2. A platform ecosystem that makes it easy for you to expand your GRC programs with pre-built templates and plug and play partnerships
3. Relationship-powered Insights that unlock the power of holistic GRC
4. Trust. Behind the scenes, we’ve been steadily investing in our state-of-the-art platform in scalability, quality, and security. So you can rely on Risk Cloud to be your single source of truth for all GRC processes
5. A user experience not only built for our power users but also encourages your business to participate in GRC
6. We seek to elevate the function of risk to be a strategic partner, so we’re invested in helping you make better risk-informed decisions

Scalability, Security & Quality

When we talk about trust within the product and engineering teams at LogicGate, we refer to three foundational tenets that underpin everything we build; scalability, security, and quality. Scalability focuses on our desire to meet the needs of our customers as their use cases and data sets grow larger and more complex. As our users evolve and scale their businesses, we want our software to scale without sacrificing user experience. Security encompasses all the work we do to ensure our customers can safely interact with their data and protect their data. Quality means consistently shipping new and improved functionality to our customers without impacting existing systems, creating downtime, or allowing defects into our products.

Scalability, security, and quality are perpetually active initiatives. We think about them as we scope new features, when we prioritize our road map, when we ship releases, when we go to sleep at night, and when we wake up in the morning. We know that delivering across these three pillars is needed to not only build trust with our customers but also improve user experience in the platform. 

A User Experience Where All Users are Power Users

Over the last year as our company and product teams have grown, we’ve had to take a moment to make sure the speed and responsiveness of our team and our platform are aligned to ensuring a level of quality and consistency for users. We’re doing this by finding ways to make Risk Cloud feel like a connected experience—thinking beyond pages, modules, and screens. We’re making content easier to access so you are served content intuitively and on-demand. We’re reducing the need for users to switch contexts by providing better functionality and finding those ideal moments to enable you to access what you need when needed. And we’re aligning to match how our users and their teams get work done by providing better visibility into reports and dashboards. 

All of these improvements have been made possible by gathering feedback and hearing from all of you! And we’re not slowing down anytime soon. We’ve got an exciting roadmap of other improvements and updates that are happening throughout the rest of 2021 and beyond. 

Making Risk a Strategic Partner

Everything we do, we do for our customers and to help you reach your goals. That’s why, when we started to consistently hear about the challenge of finding a way to communicate risk from risk pros, we looked into it. As a result, I’m thrilled to announce Risk Cloud Quantify®, the first risk quantification offering from a holistic GRC platform using the Open FAIR™ methodology. 

Risk Cloud Quantify helps you:

• Move beyond qualitative high’s and low’s and drive better decision-making by communicating in shared business language
• Visualize quantified risk rolled-up across business units, product lines, or whatever is vital to your business—or drill down into individual risk scenarios 
• Tactically use quantitative analyses alongside your existing qualitative assessments 
• Link quantified scenarios to risks, controls, assets, or any other object in Risk Cloud 
• Leverage the industry-standard Open FAIR™ methodology to provide complete transparency on how results are generated

We recently published an eBook The Definitive Guide to Risk Quantification that includes an audiobook version and interactive workbook supplement to help you get started with risk quantification at your organization. 

Hopefully, you all are as excited about where we’re headed as we are. If you’re a LogicGate customer, any feedback you have on product features, user experience, or just any cool ideas you have, please be sure to log those in our Risk Cloud Feedback portal accessible through the in-app widget. Our teams are always looking at and iterating on your feedback and you’ll have visibility into the status of your requests through that portal.