With LogicGate Risk Cloud, you can now see your organization’s fraud and security risks in new ways. Read our review here.
Governance, risk, and compliance is a broad area that encompasses the policies, processes, and systems an organization uses to manage corporate governance, enterprise risk management, and compliance with external regulations. In recent years, the importance of GRC has increased with the globalization and complexity of business.
A well-designed GRC program incorporates GRC software such as LogicGate Risk Cloud. These tools help organizations navigate these challenges by providing a framework for decision-making, risk management, and regulatory compliance. In addition, GRC tools improve organizational efficiency and effectiveness by streamlining processes and reducing duplication of effort.
Reference: Adoption Kit: Cloud Engineer (TechRepublic Premium)
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What is LogicGate Risk Cloud?
LogicGate Risk Cloud is GRC enterprise software that helps organizations automate their risk management processes and comply with various regulatory requirements.
Key Features of LogicGate Risk Cloud
no coding required
Perhaps the most important feature is that customers don’t have to write a single line of code to take advantage of all the features. This no-code tool is important because it speeds up the deployment process and shortens the learning curve.
pre-built application
LogicGate Risk Cloud has over 20 pre-built applications available. Each application is tailored to a specific use case based on widely accepted standards and key control architectures. Examples of these apps are:
- business impact analysis
- Track and manage business continuity procedures
- Environmental and social impact analysis
- CCPA compliance
- GDPR compliance
- ISO27001
- Management of policies and procedures
- Procurement and contract management
control repository
Controls are elements of governance, risk management, or compliance functions that help manage or mitigate risk or achieve desired outcomes. For example, controls in governance might be policies that set expectations for the behavior of the board, controls in risk management might limit exposure to financial loss, controls in compliance might be , could be a procedure to ensure that employees adhere to anti-compliance. Bribery Law. A well-designed GRC program will have controls in all three areas that work together to help the organization achieve its objectives.
There are over 300 control families in our growing control repository within LogicGate Risk Cloud. This allows customers to easily find controls that meet their specific needs.
App customization
All LogicGate apps are customizable using drag-and-drop functionality, allowing companies to tailor the software to meet their specific requirements. Additionally, this application allows users to create their own applications based on her GRC information from other tools such as spreadsheets.
automated workflow
LogicGate Risk Cloud automates risk-related processes and workflows across your organization. This feature allows organizations to save time and resources by eliminating manual tasks. Automated workflows also improve accuracy and consistency by ensuring that every step of the process is performed correctly.
customizable dashboard
Customizable dashboards give you complete visibility into your organization’s risk, control, and compliance status. Customize your dashboard to see the information that matters most to you. You can also drill down into the data to get details on specific items.
Related views of assets, controls, and risks
The Connectivity View feature provides a holistic view of your organization’s assets, controls, and risks. It facilitates the identification, quantification and mitigation of cyber risk, allowing users to see how issues are interconnected and identify potential GRC weak areas.
Convert risk into monetary value
Money is a language understood by all stakeholders. LogicGate makes it easy for organizations to convert risk into monetary value. This information helps decision makers know where to allocate resources and prioritize risks. By understanding the economic impact of risks, businesses can make informed decisions about how to protect themselves.
Pros and Cons of LogicGate Risk Cloud
Strong Points
- No-code platform, easy to use and deploy
- Save time and resources with pre-built applications
- Built-in scalability to scale your GRC program as your business grows
- A restful API that integrates well with other systems
- Hundreds of third party integrations
- Easily customize workflows and processes to meet your unique business and regulatory requirements
- A simple pricing model where customers purchase the applications they need to run the GRC program and power user licenses for the staff who run them.
Cons
- Overwhelming platform with tons of features and applications
- confusing user interface
What Our Customers Are Saying About LogicGate Risk Cloud
LogicGate Risk Cloud is a fairly new company founded in 2015. But in that short time, the company was able to outperform its more senior competitors. The tool has received positive reviews on major rating sites. For example, on TechnologyAdvice, the company has given him 4.5 stars out of 5.
Customers generally rate this product positively, saying that it is user-friendly with excellent customer service. One final point, when purchasing LogicGate Risk Cloud, there are over 20 pre-built applications, so carefully evaluate which applications you need to ensure you get the cost-effectiveness.
