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Cognizant—Governance, Risk and Compliance As a Service

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Cognizant—Governance, Risk and Compliance As a Service Solution overview Cognizant Governance, Risk and Compliance as a Service Centralized, prioritized and auditable risk management Solving the compliance puzzle Cognizant Governance, Risk and Compliance as a Service replaces costly in-house infrastructure with Governments and industry groups are constantly less expensive, scalable cloud-based services. working to better protect everything from public Cognizant provides an intuitive GRCaaS platform safety to financial systems, citizen privacy and the backed by world-class best practices, the ability to environment. To do so, they frequently implement customize off-the-shelf solutions for the needs of new laws and regulations while adapting existing specific organizations, and strategic consulting. All ones. Ongoing changes to the regulatory this not only reduces GRC costs, but significantly environment are also driven by new technologies, improves an organization’s ability to consistently ranging from social media to the internet of things identify and prioritize its security needs over time and decentralized trust systems based on the and ensure its regulatory compliance. blockchain distributed database. Governance, Risk and Compliance as All this change makes governance, risk and a Service compliance (GRC) ever-more complex and expensive. This is especially true for organizations GRCaaS utilizes a software solution made up of operating in multiple industries or geographies modular applications that address use cases such as risk management, compliance management, that have different regulatory requirements and audit management and loss management, as well where each business unit may generate its own, as evaluate and monitor threats from siloed compliance data. vulnerabilities, supply chains and risk from third parties. Because of this growing complexity, many Cognizant security and advisory professionals organizations find the cost of their legacy GRC work with your team to assess your current controls becoming increasingly burdensome. processes and tools, providing guidance on Even worse, those controls may be too a plan to achieve optimal capability. They keep you cumbersome and slow for organizations to quickly up to date on changes to multiple complex and cost-effectively meet—and prove they are regulations and help demonstrate your compliance meeting—an ever-growing range of laws and to regulators with a structured and sustainable regulations across geographies and industries. approach to compliance management. Governance, Risk and Compliance as a Service After configuring the platform with your data • Streamlined information gathering, due and onboarding the processes and assets to be diligence, onboarding, real-time monitoring, managed and monitored, our transformation and and risk and control assessments of third managed services teams work with you to ensure parties. GRCaaS streamlines the evaluation of the platform meets your needs and provide third-party risk and due diligence assessments, support for any operational issues, allowing you as well as the qualification, segmentation and to define the business goals while we adapt and ranking of third parties. configure the system. • Strategic consulting services reduce the cost of maintaining such skills in-house while helping The service maps controls to regulations and ensure consistent, up-to-date compliance policies, enabling an integrated approach to even across business units and geographies. ongoing compliance. It improves visibility into compliance quality through predefined and customizable real-time reports and user-specific GRCaaS benefits • Earlier identification of risks and more formal dashboards, providing a user experience tailored management of them through improved to the specific role of the viewer. compliance training and awareness, clearer GRCaaS features lines of accountability and better use of risk to guide company strategy. • A centralized framework and integrated • Proactive identification of potential violations approach to managing an extensive range of through more efficient and open exception compliance requirements. It enables efficient management. management of complex cross-industry • Greater compliance confidence through mandates such as SOX, GDPR, ISO, PCI, timely communication of policies and tracking OSHA and FCPA, as well as industry-specific responses to those policies from required regulations such as those governing food and decision-makers. pharmaceutical safety. • More robust business continuity through more • Ready-to-implement, customizable use cases effective identification and categorization of for the management of policies, controls, IT critical business processes and the threats and risks, incidents, threats and vulnerabilities, risks they face. and vendors, as well as business resiliency. • Creation of an organization-wide prioritized • Policy management to streamline and ensure risk repository, required by standards such the consistent application of security policies, as ISO 27001 for information security risk including regular reviews, updates and management, proving the organization is aware the quick, effective identification of policy of and remediating potential risks. exceptions. GRCaaS also cuts the time and • Reduced risk through monitoring of effort required to map policies to regulations, compliance and performance of IT security risks, controls, requirements and processes, controls, including real-time monitoring for and provides workflows for policy review and violations and automated control assessments. approval. • Reduced difficulty and cost of performing • Intuitive reporting through centralized access audits, risk management, governance and to risk and compliance data from across internal controls through management of the organization provides consistent and everything from planning to execution and closed-loop processes across risk, audit and signoff. compliance functions. 2 • Improved third-party risk visibility with quick, • A consolidated view of risks helps to assess, frequent risk assessments and visibility across quantify, monitor, and manage them in an businesses. integrated manner using industry-standard • Reduced staffing costs and a monthly pay- risk assessment frameworks. as-you-go billing model allow the business to • Improved management of risks and focus on managing risks, not deploying and streamlined compliance by moving managing infrastructure. governance, risk and compliance through an • Real-time visibility into IT risk exposure and engaging, pervasive, modern cloud-based the appropriate measures to treat risks using service. contextual information provided in intuitive reports, across processes and assets. Contact your Cognizant representative today Cognizant Security helps you achieve better business outcomes by securing your digital transformation. We provide the security capabilities you need to address ever-changing threats, maintain compliance and reduce the unsustainable burden of managing security infrastructure. To learn more, [email protected] About Cognizant Digital Systems & Technology Cognizant Digital Systems & Technology works with clients to simplify, modernize and secure IT infrastructure and applications, unlocking the power trapped in their technology environments. We help clients create and evolve systems that meet the needs of the modern enterprise by delivering industry-leading standards of performance, cost savings and flexibility. To learn more, contact us at [email protected] or visit www.cognizant. com/cognizant-digital-systems-technology. About Cognizant Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technol- ogy models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 193 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant. World Headquarters European Headquarters India Operations Headquarters 500 Frank W. Burr Blvd. 1 Kingdom Street #5/535 Old Mahabalipuram Road Teaneck, NJ 07666 USA Paddington Central Okkiyam Pettai, Thoraipakkam Phone: +1 201 801 0233 London W2 6BD England Chennai, 600 096 India Fax: +1 201 801 0243 Phone: +44 (0) 20 7297 7600 Phone: +91 (0) 44 4209 6000 Toll Free: +1 888 937 3277 Fax: +44 (0) 20 7121 0102 Fax: +91 (0) 44 4209 6060 © Copyright 2019, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without notice. All other trademarks mentioned herein are the property of their respective owners..
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