Summary

An industrial solutions company with more than a dozen subsidiaries needed a better way to standardize compliance and monitor enterprise-wide security. By using RegScale, they now identify and mitigate risks in real time and swiftly implement initiatives and changes across their entire business portfolio.

Challenge: overcoming industrial IT fragmentation for enhanced security

The company operates more than a dozen entities under its industrial solutions umbrella. It grappled with a lack of standardization in IT systems and Governance, Risk, and Compliance (GRC) processes across its enterprise. Each subsidiary functioned in its silo, making the task of understanding the compliance and risk posture of each entity both time-intensive and manually cumbersome. This fragmented approach heightened security risks and obscured visibility into the compliance, risk, and remediation activities of these operating companies. They also needed a solution that could enhance visibility while also reducing costs and manual labor.

Solution: streamlining compliance with unified GRC standards

The turning point came when the company centralized data and established unified GRC standards for all its operating companies on single platform, RegScale. The move towards automation of compliance assessment and risk processes, coupled with the integration of data from existing tools, marked a significant milestone. By adopting a strategy that prioritized real-time visibility into compliance and risk information across the enterprise, the company established new standards for operational excellence for security, risk, and compliance across its portfolio.

Result: robust oversight of compliance and risk management

The adoption of RegScale as the Continuous Controls Monitoring (CCM) platform, leveraging its multi-tenancy capabilities, was a game-changer. This strategic decision allowed the company to host all operating entities in one centralized location. The company selected the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF) as its compliance and risk standard.

They rapidly implemented the NIST CSF catalog. This swift move towards assessing risk and compliance through automated workflows, centralized data, and dashboards heralded a new era. Today, the company boasts an unparalleled ability to measure compliance posture, identify and mitigate risks, and swiftly implement initiatives and changes across its business portfolio. Armed with real-time dashboards and reports, the visibility once sought after is now a reality, empowering the company to make informed investment decisions based on robust data.