Digital Risk Management and Compliance as a Code:

Businesses should include risk management throughout the software development cycle rather than retroactively.

The frequency of risk occurrences continues to accelerate as the negative impacts of failure increase in severity. The old methods and practices of performing governance, risk and compliance (GRC), which revolve around manual processes, endless spreadsheets and retroactive identification, are too outdated to keep pace with the rapid evolution of technology. As a result, businesses have taken risk management into the digital age, morphing GRC into digital risk management (DRM). Those leveraging DRM make better security decisions, safeguard customer data and ensure stakeholder satisfaction. The implementation of DRM also leads to greater efficiency via automation.

However, despite these innovations, many organizations miss one vital component of DRM – namely, compliance as a code. Coined by experts at the world’s largest manufacturer of custom software, compliance as a code refers to the inclusion of risk management and compliance within the entire software development cycle (SDLC). Currently, DRM is typically added retroactively to the SDLC, and while it’s not necessarily because businesses view risk as an afterthought, it’s primarily because this is just standard practice. But, by using the compliance-as-a-code methodology and implementing DRM from the start and throughout the SDLC, companies can further reduce costs and save time, among other benefits.

Read the full article here: https://www.securitymagazine.com/articles/98069-digital-risk-management-and-compliance-as-a-code

Learn how EPAM leverages its core engineering expertise to provide innovative DRM product engineering and consulting services: https://www.epam.com/services/cybersecurity/digital-risk-management