Qmulos Releases New Executive Guide, Rethinking Compliance, Addressing the Challenges of Today’s Cyber Threats
Qmulos, a pioneering next-gen compliance, security and risk management automation provider, released “Rethinking Compliance,” an executive guide for evolving enterprise risk, security, and compliance practices. The guide calls on enterprises to challenge the status quo of traditional, reactive compliance programs and their focus on capturing and communicating exclusively historical information, and embrace technology that delivers real-time risk intelligence to empower strategic risk management decisions. To overcome the security threats facing the modern enterprise, stakeholders from compliance, risk and security must converge, and leverage the power of big data analytics for a transformative, effective, and more efficient approach to defending the enterprise against today’s advanced cyber threat landscape.
Despite the world spending more on cybersecurity every year, enterprises continue to struggle. Even as security vendors and providers deliver more solutions to the market, the impact from cyberattacks keeps rising. Among the most targeted nations, the US ranks the highest for average total cost of a data breach at $9.44 million.
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Igor Volovich, VP of Compliance Strategy at Qmulos, points out, “Most enterprises suffer from a deep misalignment between compliance, security and risk functions. When each of these areas are treated as siloed initiatives, they fail to achieve their common business resilience goals. Hackers don’t care about checkboxes or paper-based compliance management models. The current, reactive compliance models neglect to harness the existing capabilities found in the modern enterprise technology space. Leveraging existing security and technology investments from a converged, cross-functional perspective, empowered by big-data and real-time control telemetry, offers forward-looking organizations significant advantages in their fight against the onslaught of cyber threats.”
At the core of compliance lies the idea of deterrence: any compliance actions contrary to those mandated are penalized, and those that adhere to regulations are rewarded. To be impactful, the detection of non-compliance needs to be timely and accurate with the resulting penalties significant enough to serve as a motivator for appropriate behavior. While generally sound, the concept of deterrence loses some certainty when it comes to today’s complex multidimensional behavioral models that inform the modern compliance landscape. Despite an increasing number of compliance mandates and penalties, detection of non-compliance has become increasingly difficult, leaving enterprises in the dark about their risk posture, and bad actors are taking advantage.
Matt Coose, founder and CEO of Qmulos, said, “For too long, compliance has been largely divorced from its intended purpose as a critical tool for managing and reducing risk. Compliance that is automated, real-time, and converges the silos of compliance, risk, and security is a necessary strategy for evolving legacy enterprise compliance and risk management practices into business-aligned, integrated, modern programs.”
Qmulos has been providing next-gen risk and compliance solutions for more than a decade, helping government organizations and large enterprises meet and exceed regulatory requirements, such as NIST 800-171, NIST 800-53, ICS 500-27, SOX, HIPAA, FedRAMP, PCI DSS, and most recently, CMMC.
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