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Inefficient principles and protocols across the organization, absence of board-level supervision, followed by the inability of GRC programs to instill a transparent system, barricades prioritization of risk alleviation undertakings. Today, GRC is incorporated across an extensive and diverse set of use cases, ranging from traditional risk management to cybersecurity, third-party management, and regulatory compliance. Managing GRC information requires structural design of shared information and a governance approach that supports the organization. “We are helping to modernize the GRC space by utilizing new innovations and technology to help better define data governance and how organizations deal with ever changing compliance requirements. We are using these innovations to automate and streamline GRC functions for ease of policy enforcement, risk analysis, and compliance reporting,” cites Brian Arellanes, CEO, ITSourceTEK. The enterprise provides data security and business optimization solutions that range from GRC through cyber security.
ITSourceTEK provides assessments, requirements, and gap analysis for security standards such as HIPAA, SOX, PCI-DSS, and GDPR to name a few. ITSourceTEK creates data protection strategies with policies and imposes those policies by means of automation and technological innovations. The company offers solutions to fill any gaps to attain compliance, ensuring that companies meet rigid security standards for how their data is used, managed, and stored. This also extends to 3rd party or vendor risk assessments for ongoing continuous monitoring of those entities.
“There are a lot of challenges based on legacy systems because a significant investment has been made in some of these systems, yet they still need to comply with new regulations,” says Arellanes.
We are helping to modernize the GRC space by utilizing new innovations and technology to help better define data governance and how organizations deal with ever changing compliance requirements
ITSourceTEK helps their clients by pulling in solutions to maximize the investments already made and automate many of the cumbersome processes along with correlating the data from disparate systems to streamline risk analysis and reporting.
“A lot of times we see companies make policies for their organization but they do not have a true mechanism to enforce those policies,” points out Arellanes. ITSourceTEK’s solutions help to enforce those policies and can automatically block activities that are out of compliance. ITSourceTEK builds a bridge between GRC organizations and cybersecurity organizations because there is a very tight association between the two groups. In many cases, there are technologies that fulfill the cybersecurity functions but they also add value for GRC. As companies’ cyber security strategy moves towards a data-centric approach it is extremely valuable from a GRC perspective.
ITSourceTEK deals with various clients from sectors such as healthcare, insurance, financial services, and government. ITSourceTEK makes sure that the technologies its clients are investing in have a clear ROI and focuses on solutions that are easy to implement, this saves their clients money by not spending on unnecessary services. One of the largest travel leisure companies in the world has many complex regulations due to their involvement in gaming along with having sensitive financial data, healthcare records, personal identifiable information, and credit card information. ITSourceTEK is helping them with many of the GRC and cyber security functions to meet regulatory compliance and look at solutions that can help them automate policy enforcement.
While located in the U.S., ITSourceTEK has international clients as well as U.S. clients with international GRC exposure, which has required ITSourceTEK to become experts in a wide spectrum of regulations. One example is the EU’s GDPR, which will impact many companies, non-profits, and government entities. ITSourceTEK looks forward to the continued expansion of data science to further automate many of the current mundane processes over the next five years.