OVERLAND PARK, KS -- (Marketwired) -- 10/03/13 -- LockPath, a provider of innovative governance, risk management and compliance (GRC) solutions, today announced that it was honored with the 2013 GRC Value Award in the IT & Information Risk, Security & Compliance category by GRC analyst firm GRC 20/20. The Inaugural GRC Value Awards recognize real-world implementations for Governance, Risk Management and Compliance programs and processes that have returned significant and measurable value to an organization.
"LockPath has demonstrated proven business value in information risk, security and compliance through its work with a leading medical device manufacturer," said Michael Rasmussen, Chief GRC Pundit for GRC 20/20 and internationally recognized expert. "It is imperative that we recognize today's successes as a milestone toward advancing GRC maturity. In achieving maturity, GRC is part of the organization's strategy and operations and supported by a range of technologies, knowledge and services - enabling the organization to achieve greater efficiency, effectiveness, and agility in GRC processes and broader business operations."
LockPath worked with a manufacturer of medical devices to reduce IT audit preparation time by 80 percent, improve the efficiency of security functions, and deliver deeper insights through dashboards and results. The organization was able to achieve a comprehensive view of its GRC processes by implementing a combination of applications from LockPath's Keylight platform over time including, Risk Manager (RM), Compliance Manager (CM), Audit Manager (AM), and Security Manager (SM). As a result, it has saved at least 10 weeks of employee time that would be spent managing an audit, reduced billing time, received audit results more quickly, and avoided costs that accompany exploited vulnerabilities.
"LockPath is honored to be recognized for its work by such an authoritative voice in the GRC space," said Chris Caldwell, CEO of LockPath. "Keylight can take a lot of the complexity out of GRC, freeing up employees' time for more strategic projects. For example, rather than focusing on manual tracking and follow-up, staff can dig deeper into data to ask 'what if' questions and draw more meaningful insights."
The 2013 GRC Value Awards evaluated solution providers and GRC practitioners in the following categories: Enterprise GRC, 3rd Party Management, Audit Management, Business Continuity, Compliance Management, Control Monitoring/Assurance, Environmental Health & Safety, Fraud, IT Security Risk Management &Compliance, Identity & Access, Insurance & Claims Management, Investigations, Legal, Policy Management and Risk Management.
LockPath speeds and improves organizations' business and risk decision making. Its purpose-built Keylight platform correlates data, policies, procedures and assets from numerous sources to support comprehensive information security management system (ISMS) and governance, risk and compliance (GRC) reporting across any organization. Forward-thinking product design is recognized by analysts and leading industry publications/awards as the next generation of GRC. LockPath is headquartered in Kansas City. Visit LockPath.com to learn more.
About GRC 20/20
GRC 20/20 is the authority in understanding how organizations implement GRC practices that are effective, efficient and agile. Through independent research and industry interaction, GRC 20/20 advises the entire ecosystem of GRC roles within organizations, technology and knowledge solution providers, and professional service firms. Organizations engage GRC 20/20 when they need insight, guidance and advice in dealing with a dizzying array of disruptive issues, challenges, processes, information and technologies while trying to maintain control of a distributed and dynamic business environment. Visit GRC 20/20 at http://www.grc2020.com/ and follow on Twitter at @GRCPundit.