Many organizations are outsourcing much of their technology to rapidly innovate, add efficiency and simplify operations, in the name of saving time and money. Migration to the cloud allows many organizations to improve operations while solving many IT risks. However, cloud computing also introduces other concerns, including auditing the cloud, vendors and interfaces, and managing multiple provider relationships.
Data privacy regulations, business recovery concerns and vendor management of outsourced services have all introduced new IT risks to the picture. Many companies struggle to take new technologies and a changing landscape safely into account. Companies with significant compliance requirements traditionally seek value through streamlining IT risk management processes rather than by relying on once-a-year audits. In today’s environment, market leaders face similar challenges and have the opportunity to derive value by effectively managing IT risks while simultaneously introducing and taking advantage of emerging technologies.
Where Do Your IT Risks Reside?
As you implement new technology, not only are you making financial investments, but you are also changing operational and technological processes. These changes can have a major impact on the business and change your organization’s technology control requirements. Outcomes may differ from your initial plans, creating unexpected risks. Many organizations struggle with one or more of these key IT risk challenges and implementing them to drive a secure environment.
Comprehensive IT Risk Services
Alchemi’s IT risk professionals can help your organization address any or all of these challenges, utilizing an approach to risk that includes three essential action steps:
IT Risk Assessment: We recognize the important role that an assessment plays in the development of a strong IT risk management program. Our team understands how your people, process and technology can address risks and leverage that information to create a complete picture of risks within your organization:
- People: What is the overall technical capability of your IT resources and how are they organized?
- Process: How formalized and effective are your IT procedures and processes?
- Technology: What are your applications and infrastructure components, and how do they support your business processes?
IT Risk Program Development: Once we understand your distinct risks, our team will work to plan and develop a framework for testing controls, processes and other risk mitigation or compliance programs. Using risk ranking, we focus on protecting data and controls for your most exposed areas with the highest priority.
IT Controls Monitoring and Testing: After we identify your highest-risk application(s), we test the appropriate controls. Testing focuses on your most urgent security risks and then progress to less critical risks.
Managing IT risk is not a one-time initiative. Instead, it is an extremely dynamic process, with risks that change as technology evolves. An IT Risk Assessment should not be stuck on the shelf once completed, rather it becomes and process of constantly surveying the threat landscape and updating your security posture accordingly. Alchemi’s highly qualified and certified IT risk professionals understand the technology, risks and your industry demands, and can help transform IT risk from an unknown into a core strength of your organization.
Understanding the Big Picture
We stay abreast of emerging IT risks within specific industries, from automation within industrial or consumer products manufacturing organizations to the operational software systems within complex financial services organizations. Our teams will work with you to understand your business and IT strategies, your business objectives, your plans, where risks are prevalent and how to address them.
Alchemi’s experienced technology risk advisors understand the changing cyber risk landscape and how the ever-emerging risks can impact your organization. We provide your organization with cost-effective processes to assess your environment and help you implement more effective and efficient IT controls that consider your changing IT risks. Most importantly, our team is well-versed with the business and technology challenges specific to the applications and solutions deployed by complex organizations like yours.