Hicomply provides an intuitive and comprehensive risk management tool as part of our core product feature set. Linking and integrating to your asset register, as well as your key business processes and services, you can undertake risk assessments quickly and transparently across your whole business.
Risk management is the essential process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level. Organisations use risk assessments, the first step in the risk management methodology, to determine the impact of potential threats and vulnerabilities on the confidentiality, integrity and availability of their information. Risk assessments are traditionally very cumbersome, requiring expertise and complex Excel workbooks or a set of manual tools.
We have a built-in risk assessment methodology in line with key standards such as ISO/IEC 27001, NIST 800-30, and SOC. Risk assessments can be built on the back of existing asset registers, where each identified risk can be assessed in terms of Likelihood and Impact, giving a total ‘Risk Score’. Actions can then be set up to manage and reduce risks, while any residual risks are displayed on a visual risk matrix, showing the status of all risk across the business. The platform also suggests possible risks that need to be considered, along with mitigating actions and controls, based on the asset selected.