Given the unprecedented pace at which the cyber risk and regulatory landscape is evolving, organizations may become myopic in the way they manage their IT and cyber risks. It is common knowledge now that relying on a narrow and siloed approach to managing IT and cyber risk and compliance processes will adversely affect an organization’s ability to manage its cyber governance, risk, and compliance (Cyber GRC) posture and this has triggered greater interest and adoption of Cyber GRC solutions over the last few years - which is definitely a step in the right direction.
However, it is also crucial and equally important to take a step back and study the bigger picture of organizational maturity in handling IT and cyber risks, as only a clear understanding of this maturity level will guide in effectively determining and implementing the GRC/risk management strategy. Hence, the need to embark on the Cyber GRC maturity journey.
On the Cyber GRC maturity journey, organizations need to undertake various process, functional, and strategic level changes to enhance the efficiencies in managing IT and cyber risk, compliance, and governance activities.
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