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TraceSecurity launches risk management service

13 December 2007  |  4214 views  |  0 Source: TraceSecurity

TraceSecurity, a leading provider of on-demand security compliance solutions, today announced the unveiling of their newest software as a service (SaaS), TraceSecurity Risk Manager.

The first SaaS product to integrate the latest in risk management methodology with continually evolving compliance standards, TraceSecurity's Risk Manager allows users to quickly and accurately determine the proper controls necessary for implementation to secure confidential data against both physical and information security threats.

"Many regulations now require organizations to conduct risk assessments," stated Peter Stewart, TraceSecurity's CEO and President. "TraceSecurity's Risk Manager enables users to demonstrate that they have a verifiable, repeatable method for measuring risk and for complying with regulations. By offering Risk Manager as a SaaS solution, we are able to automate the required risk assessment process into a single robust solution with the benefits of on- demand delivery, enabling fast implementation times, minimal IT involvement and low cost of ownership."

Risk Manager's features and benefits include:
  • Utilization of integrated risk management methodology based on industry standards
  • Automation of the risk assessment process
  • Employment of predefined and customizable assessment templates
  • Demonstration of verifiable, repeatable methodology for compliance and regulatory measurement
  • Ability to build online risk assessment questionnaires
  • Creation of risk scorecards and profiles
  • Creation of board level reports with customizable management reporting tools

Since TraceSecurity's Risk Manager is delivered as a software service, it has significant benefits over traditional software including:
  • Quick deployment - no software to install
  • Low upfront costs - no need to purchase additional hardware or software
  • Low maintenance costs - no technology to maintain; TraceSecurity experts manage the software
  • Secure infrastructure - reliable, secure web-based service delivery

The FTC estimates the total cost for identity theft in the U.S. to be $50 billion, and new requirements from government agencies require businesses and organizations to perform security risk assessments against a number of standards including GLBA, SOX, HIPA, ISO-17799 and 27001, FFIEC, BSA and COBIT. To combat this growing epidemic and meet regulatory compliance mandates, TraceSecurity's Risk Manager combines qualitative analysis with quantitative measurement, which allows users to prioritize risk and identify vulnerabilities, as well as to determine the risk's magnitude of impact which can help identify the cost-benefits associated with recommended controls.

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