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Final File - Risk Management PDF
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com
March 2020
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CORPORATE
ENVIRONMENTAL
RESPONSIBILITY
THE IMPORTANCE OF
ENVIRONMENTAL
RESPONSIBILITY IN THE
CORPORATE WORLD
AI INTELLECT
AI CAN REPLICATE YOUR
VOICE. IS IT A BOOM
OR A BANE?
eDriving
Award-Winning Global Driver
Risk Management Gurus
Ed Dubens, Founder & CEO
EDITOR’S
LETTER
www.mirrorreview.com
March 2020
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CORPORATE
ENVIRONMENTAL
RESPONSIBILITY
THE IMPORTANCE OF
ENVIRONMENTAL
RESPONSIBILITY IN THE
The Strategic And
Competitive Advantage!
CORPORATE WORLD
AI INTELLECT
AI CAN REPLICATE YOUR
VOICE. IS IT A BOOM
OR A BANE?
eDriving
Award-Winning Global Driver
Risk Management Gurus
W ith the technological advancements in the
corporate landscape, risks have become an
inevitable part of the system. Today, organizations
from small to global are facing a myriad of risks in their daily
Ed Dubens, Founder & CEO
processes like security, financial, compliance, governance,
legal, and reputational risks.
There is no single tool that can help a company avoid all risk, however, a risk
management software can help to measure, predict, and manage them appropriately.
The market has seen a sudden spurt in the rise of Enterprise Risk Management (ERM)
providers. In order to avoid the confusion in choosing a reliable ERM provider, we the
team of Mirror Review have come up with the new magazine issue featuring “The 10
Most Reliable Risk Management Solution Providers of 2020”. In this issue, we have
featured the most reliable, innovative, and cost-effective ERM solution providers for your
enterprises.
Further, the writers have incorporated insights on the types of risks organizations face,
and how using an ERM software is beneficial. Also, you will find candid answers of the
prominent tech experts who share advice and best practices to consider while evaluating
the type of risk management solution is the right fit for your needs.
Further, in the sections of “AI Intellect” and “Innovating Wireless Technologies” our
writers have shed light on the advanced novel tech and how these technologies are going
to prove beneficial for the business.
To summarize, risk management can seem like a burden for the enterprise, but the right
risk management solution can transform risk and compliance from a time-consuming
nuisance to a strategic and competitive advantage.
Vidya Joshi
Editorial Coordinator
PUBLISHER
ARCHANA GHULE FOLLOW US
EDITOR-IN-CHIEF
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VIKRAM SURYAWANSHI
MirrorReview1
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DEEPALI SARWADE mirror-review
VIDYA JOSHI
RAKESH MAHTO mirrorreview
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MARIA SMITH
COMPANY OF THE MONTH
C2C SmartCompliance
A Compliance Platform Uniquely Designed
To Improve Business Performance
28
16
AuditComply
A Versatile And
Integrated Enterprise Risk
22 Management Platform
Ideagen
Making Client Experience
Simple, Efficient And
Effective
26
Teramind
Pioneering The
Developments In Risk
32 Management Practices
WhiteSource
A Solution Built By Software
Development Team, For
Software Development Teams
CONTENTS
ARTICLES
18 AI Intellect
AI Can Replicate Your Voice.
Technologies
How Finest Wireless Technologies Are
Changing The Communication For Better
eDriving
Award-Winning Global Driver
Risk Management Gurus
10
STORY
COVER
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eDriving
Award-Winning Global Driver Risk
Management Gurus
D
river Risk Management” is the topic of the incidents and collisions, as well as strategies to avoid them
hour, due to the ongoing changes such as from happening in the first place.
the increase in traffic volumes, change in
traffic rules, advancement in vehicle Launched in 1996, eDrivingSM helps organizations to
technologies, evolvement in social trends reduce collisions, injuries, license violations and total cost
such as dependency on social media, the of fleet ownership through a patented driver risk
‘addiction’ to smartphones, advances in mobility options management program. eDriving’s most recent innovation,
and changing workforces. Fleet safety and risk management “Mentor by eDriving” analyzes driver behaviors most
principles overlap at their core - the avoidance of incident, predictive of crash risk and helps remediate risky behavior
collision and injury to the driver! To successfully manage by providing engaging, interactive micro-training modules
driver safety, it is critical that the program incorporates a delivered directly to the driver via their smartphone. A
risk management approach that considers the causes of “closed-loop” risk management approach is at the heart of
10
COVER STORY
‘‘
everything eDriving does and is the backbone of Mentor.
Mentor turns the smartphone from culprit to cure, utilizing We help fleet drivers and
the very product responsible for driver distraction – one of
the biggest threats on the road today – to help prevent it.
11
COVER
STORY
Ed Dubens
Founder & CEO
eDriving, Inc.
‘‘
culture. It is designed to attack the ‘94% problem” namely,
as 94% of collisions are caused by a driver's attitude and
behavior behind the wheel. Mentor helps drivers understand
We provide the tools
their risky behaviors, and ultimately make the right choices needed to maintain
when faced with decisions behind the wheel, leading to
fewer collisions, injuries and license violations. consistent
Internationally Recognized Standard communication with
drivers and reinforce
Mentor is part of a broader risk management platform,
Virtual Risk Manager® (VRM). This provides organizations
with everything they need to establish safety as a strategic
imperative. The first stage in the VRM program is
messaging to make
safety part of everyday
‘‘
establishing a crash-free culture, which involves securing
the commitment of leadership to ensure the safety ‘virus’ is priorities.
spread company-wide. eDriving holds ISO 27001, an
internationally-recognized standard that defines best
practice for an information security management system. I practice what I preach!
The company first achieved the standard in 2014 and
attained re-certification in 2019, demonstrating that it In March 2016, Ed Dubens joined the eDriving executive
continues to have a robust and comprehensive information team with eDriving's acquisition of Interactive Driving
security management system that meets the highest Systems. As Founder and CEO of Interactive Driving
standards for protecting client information. Systems, he led the team at the forefront of research and
innovation in the field of road safety and culture change
strategies. Ed's commitment, dedication, and desire to
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ensure that every at-work driver makes it home to their approach to risk management will remain as effective in the
communities and loved ones every day is infectious, and future as it is today. The world can become a safer place to
every single person that works at eDriving gets up in the drive by instilling a crash-free culture in companies and
morning with this shared passion. This particular culture is improving the attitudes and behaviors of drivers to avoid
the very reason for the company’s success. At every incidents from happening.
touchpoint that its clients have with them, they know that
the safety of their employees is the reason it does what it This year, eDriving launched Mentor TSP (Telematics
does. eDriving becomes a part of the team, sharing the same Service Partner) that enables organizations with an existing
goals and focusing on the same mission. At the same time, telematics solution to incorporate Mentor to provide one
the clients know they can trust the company with their data unique risk management approach. It means that data
and personal information; a critical concern for fleet collected through hard-wired telematics devices including
operators. idling, seat belt use, MPG and reversing behaviors can be
combined with Mentor’s behavioral insights to create a
Under Ed’s leadership and with the tireless efforts of the richer driver risk profile. Mentor VISION will add inward-
dedicated team members, VRM to date has trained over a and outward-facing camera options to further enhance the
million fleet drivers and enjoyed the privilege of working risk and claim management functionality of the Mentor eco-
with some of the world's most successful businesses, system that reacts to the FICO® Safe Driving Score
including BT, Nestlé, Zurich, Cummins, Pfizer, Siemens, behaviors triggered by the driver.
Johnson & Johnson, Mondelez, GSK, Merck & MSD,
‘‘
Transport for London, ASDA (Wal-Mart), Liberty Mutual,
Roche, TNT, Sanofi, AON, Iron Mountain, McCain, Royal
Mail, and many more. Furthermore, over the past 25 years,
We provide
eDriving’s research-validated programs have been organizations with
recognized with over 90 awards around the world. Adding
more feathers to its crown, it is the driver risk management everything they need
partner of choice for many of the world's largest
organizations, supporting over 1,000,000 drivers in 96 to achieve and sustain
countries.
a crash-free culture
Effective Today As Well As In The Future that does not accept
In a nutshell, in the coming future, transportation will
progress further into a hybrid period in which human-
operated and autonomous cars co-exists, and in which at-
collisions as an
inevitable part of
‘‘
work mobility is evolving to incorporate ‘on-demand’ travel
options such as ride-hailing, bicycling, car-sharing and
driving for work.
more. The environment for at-work drivers is set to change
beyond recognition. While it is critical for risk management
companies to evolve and keep up with the future challenges
drivers are facing, eDriving’s patented closed-loop
13
Company Names Info
Allgress Founded in 2008, Allgress helps enterprise security and risk professionals solve the
Gordon Shevlin, problem of how to assess, understand and manage corporate risk.
Founder & CEO www.allgress.com
C2C Smart Compliance C2C SmartCompliance is a specialized enterprise governance, risk and
Steve Crutchley, compliance software, and service provider.
Founder & CEO www.c2csmartcompliance.com/en
Iceberg Networks Iceberg helps organizations plan, deploy and manage successful
Corporation implementations of Governance, Risk Management & Compliance (GRC)
Ken McPherson, solutions.
CEO & President www.icebergnetworks.com
Lynx Technology Lynx offers a full range of IT risk, auditing, security, and compliance solutions
Partners designed to help you reduce security risk, enable compliance, and increase
Gina Mahin, operational efficiency throughout your highly regulated organization
CEO www.lynxgrc.com
WhiteSource is all-in-one licensing, security, and reporting solution for managing open source
WhiteSource components, and the only one that operates in real-time, by automatically and continuously
Rami Sass, scanning dozens of open source repositories, and cross-referencing this data directly against the
Co-founder & CEO open source components in your build.
www.whitesourcesoftware.com
AuditComply
A Versatile And Integrated Enterprise Risk Management Platform
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AI INTELLECT
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AI INTELLECT
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Ideagen:
Making Client Experience Simple, Efficient And Effective
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At Ideagen, we aim to
work with honesty and
transparency to ensure
customer satisfaction
and create strong
working relationships for
the long term.
company, the biggest challenge confronting Ideagen is To keep their solutions and products up to date, the team
the integration of people and products from a number of of Ideagen is continually developing relations with
acquisitions. Also, the team of Ideagen is industry regulators to understand the notable changes in
multigenerational and belong to diverse geographical the pipeline. Due to this process, the team is rest assured
backgrounds, which present some challenges. Ideagen’s they can support clients in the best way possible.
culture plays an important role in overcoming these.
Praising the Sheer Commitment and Professionalism
Ben further added, “We are a business that is so much
more than the sum of its parts, because of the breadth of Fulfilling customer requirements is not an easy job, and
talent and diversity which surround us. I just encourage Ideagen’s vast customer base means numerous
and foster that.” challenges. Despite this, the company has succeeded in
establishing good client relations due to its commitment,
Expanding Footprint and Improving Sector Expertise solution and professionalism. Cristina Gonzalez Barreda,
Quality Assurance and Audit Tools Director for internal
Ben predicts that with the leading advancements in audits at BBVA says, “I would definitely recommend
technology the areas of governance, risk management, Ideagen and its Pentana solution to my peers due to their
and compliance are expected to gain popularity. As commitment, solution, and professionalism.”
businesses have started to understand the importance of
risk management, this scenario will prove beneficial for Another client, Karen Postlethwaite (Clinical
the team of Ideagen. To keep up with the pace of Governance Manager at NHS Trust), entrusts Ideagen
advancements, the team will continually focus on its with the internal and external reporting requirements and
growth strategy. Ben explains, “We are constantly praised its time-to-value quality by saying, “With Q-
refining our products to keep pace with regulatory Pulse we can meet our external and internal reporting
requirements and the needs of customers, and also requirements in about a third of the time thats it would
looking forward to expanding our geographical footprint take us if we didn’t have the direct link to the NPSA.”
and sector expertise.”
23
Teramind:
Pioneering The Developments In Risk Management Practices
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At Teramind, customer
support is our top
priority. We focus on
customer feedback and
build our product
around it.
Inclusive Culture Encouraging Autonomy and key priorities of Teramind. The company will also introduce
Collaboration more productivity improvement features like support for
Teramind is a remote-first company where the company mobile devices, time tracking, performance optimization,
culture for remote workers is as inclusive as possible. The etc. It will also bring more applications and integration
company emphasizes on encouraging autonomy and support with other partners. By the partnerships, the
collaboration to let the employees explore their potential. company aims to deliver better, holistic risk management
Teramind also emphasizes on the passion for work. The and security solutions to its customers.
employees are inspired to passionately develop technology
that solves real and difficult problems. A fun-filled and Testimonials Reflecting the Company’s Success
lighter environment is maintained in the company so that Teramind has come across numerous clients over the years.
the employees can work freely and love what they do. More often than not, the clients are satisfied and are always
in high praise with the solutions provided by the company.
Customer support is a top priority for Teramind. The The company’s success is evident through some of the
company operates on a closed cycle as it focuses on testimonials provided by the company’s clients. Here are
customer feedback and builds the product around it. The few of the praises from the clients:
product thus built is very close to the customer
requirements. Jason C from a computer software company, asserts,
“Extremely powerful software that has proven itself time
Looking to Raise the Bar and time again within our company,” Another client named
The need for risk management solutions is only expected to Timothy O who has Financial Service Business says,
increase in the forthcoming years. Keeping the future “Fantastic system with plenty of applications. [With] retro-
opportunities in mind, Teramind has planned solutions for active security monitoring, threat management and system
the most critical components of risk management in the diagnostics. Ricky H. who is working in government
future. The company is expected to introduce numerous Administration praises Teramind, says, “Teramind is far
new features and capabilities into its platform. more advanced than other competitors. They are definitely
raising the bar and I’ll back them up any day.”
Automating risk management and security orchestration by
investing more on machine learning and AI is one of the
27
We are moving forward
all the time, risks
continue to be an issue,
we aim to help
organizations, identify
and remediate
deficiencies before they
become serious issues
and cause business
disruptions and
Steve Crutchley
Founder & CEO | C2C permanent damage.
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C2C SmartCompliance:
A Compliance Platform Uniquely Designed To Improve Business Performance
N
o organization today is immune to risks. manual processes and perform tasks in hours that
All organizations are threatened with risks normally take days. MYRA addresses the
that can negatively affect the business. challenges of protecting assets with a cost-effective
Risk management practices in the business can help solution that conducts risk assessments and
to identify, measure and analyze these threats in provides management process visibility.
order to reduce material, reputation, opportunity
and also be cost-effective. The market is filled with The MYRA product is uniquely designed to offer
companies that provide risk management tools. organizations with the competence to undertake a
Choosing these tools can be confusing. With the risk assessment in a controlled manner. Often
competition emerging in the market with multiple individuals are not comfortable with the rapid
solutions, one such product beating the confusion technological shift, thus MYRA is a product that
and cost challenge is MYRA. MYRA can be easily undertaken by individuals regardless
(MyRiskAssessor) is a product offered by the C2C of the skill level. The product aims to overcome the
SmartCompliance. issue of staff being excluded due to the lack of
perceived knowledge. MYRA also comes with
MYRA is a uniquely designed full-function low- embedded supporting components:
cost product. One of the clientele feedback stated
that MYRA functionality was far outreached as Ÿ Asset Risk Assessment
compared to other products. Also, the cost was Ÿ Extensive Threat libraries linked to
significantly below what is perceived to be the next Vulnerabilities, linked to security controls
level of products. Having a strong documented Ÿ Risk Treatment process – comprehensive
methodology is paramount and C2C provides a full management and workflow
methodology document when anyone licenses Ÿ Business Impact Analysis (BIA) linked to the
MYRA. risk
Ÿ Gap assessments
Aligning Strategy with Business Objectives Ÿ Ability to filter asset and provide roll-up across
multiple environments – score comparisons
C2C SmartCompliance is a specialized enterprise Ÿ 2FA if required, to provide the extra level of
governance, risk and compliance software, and security
service provider. The company was established by
professionals with over 25 years of GRC auditing Recognized Leader in GRC Arena
and consulting experience. C2C methodology aligns
an organization's compliance strategy with specific Steve Crutchley (Founder and CEO of C2C)
business objectives. Its products automate the costly established C2C intending to support clients and
29
their needs. He is a veteran in the field with more investing in risk management tools. He further
than 25 years of experience in Business Protection, explains, “Risk isn't just for the clever people; we
combined with extensive knowledge of the deal with risk day-in and day-out and having an
industrial, commercial, government and financial easy to use and consistent product makes MYRA the
areas. Steve is not just a recognized leader but also best ROI for any risk product in its class.”
a foremost authority in the Governance, Risk, and
Compliance (GRC) arena. He started his career with Skilled and Knowledgeable Teammates
the Computer operations and also served as a
security techie managing RACF. Over the years, he The competition in risk management services is
gradually managed to go up the ranks and ended up rising rapidly. Thus, the team at C2C utilizes its
managing multiple MVS installations products to offer value for money services. Steve
internationally. believes that the team has to have supporting
capabilities in the 'back-pocket' to ensure that they
Steve is a serial entrepreneur and has a string of can effectively compete in the space.
success in his career with multiple successful
ventures. He adds, “If I was to start again, I doubt The team of C2C comprises of skilled and
much would change – I enjoy what I am doing knowledgeable individuals across multiple
supporting clients and their needs. I moved into disciplines. These individuals utilize MYRA in their
consultancy many years ago and started to develop day-to-day activities. Through using the product
my IP which took me into the product development regularly the team can also ensure that MYRA is
realm. I came to the US in 2002 and in 2005 updated regularly and incorporating all the client
Symantec acquired my first business for a suggested changes.
development we had. It is also nice to know it's still
running today.” Presently, C2C has a strong service Supporting the Business in Need
management culture and Steve is content and happy
with the success. Steve established C2C to provide cost-effective
solutions supporting the business need. The services
Navigating Through the Compliance Maze and products of the company go beyond the risk
management tool. C2C has a full function mapping
Being a part of the industry for years has benefited capability in the Compliance Mapper product where
Steve with experience which helps him navigate the it supports large organizations needing to ensure
organizations through the risk business protection compliance with multiple regulations, standards,
(security) and compliance maze. He assists the and best practices. In the coming years, C2C plans
clients in selecting and delivering the processes and upgrade the services as per the client requirements
solutions that will mitigate the risk and support and fulfill its ultimate goal to support the business
corporate governance. in need. “The C2C goal is to continue providing full
function, cost-effective solutions. I have come
Technology is vulnerable to risk and to eliminate through the big-spending days and now we want
that risk leaders need to invest in the risk value for money!” Steve concluded.
management tools. However, Steve encounters a
few leaders who are not convinced by the idea of
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WhiteSource:
A Solution Built By Software Development Team, For Software Development Teams
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turned into one of the industry veterans. Throughout the great way to grow as long as you learn from your
journey he has encountered various roadblocks but his mistakes and optimize your process while getting the job
belief has been to learn through errors and trials. done.” Thus, the team at WhiteSource is allowed to
experiment with the ideas and have the liberty to make
“We will continue to help companies secure their mistakes as long as they are learning from it.
applications and lead the open source security space
through the continuous innovation of our product,” Focusing On Simplifying Open-Source Usage
commented Rami.
2020 has introduced a shared model of responsibility in
Autonomy Fuels Creativity risk management. Though risk management is no longer
owned only by one team, every department views risk
The success of the company is not an individual’s management differently. Being one of the former
responsibility but the result of the joint efforts of the software development teams, WhiteSource understands
team. The best of team members can be achieved when how its clients view risk management tools and strive to
each one of them is given the freedom to explore their offer the tools needed to reduce risk without slowing
creativity. At WhiteSource, the team members are down development. As WhiteSource also caters to
provided with the support they need to do the job while security teams, the team is also committed to mitigating
also giving them the full autonomy over their area of the overall risk by helping the companies.
responsibility. Autonomy motivates people to think
creatively without needing to conform to strict The ultimate goal of the company is to simplify open
workplace rules. It also builds trust, increases the feeling source usage and make it accessible and reliable so that
of belonging, and improves innovation. businesses can harness its power without exposing
themselves to unnecessary risks.
Rami further adds, “I believe the best way to learn is
through trial and error. This is why I encourage my team
not to be risk averse. I tell them that taking risks is a
33
INNOVATING WIRELESS TECHNOLOGIES
The 5G cellular technology is upon us, we might see 5G get Low Power Wide Area (LPWA) technology come up as a
adapted in major cities by the end of 2019 or at the phrase in 2013 not as a new technology standard, but rather
beginning of next year. The technology supposed to as a category of wireless technologies that are well suited to
compliment Wi-Fi as the speed of the internet is going to the specific needs of machine-to-machine and IoT devices.
improve by the introduction of 5G. The speed is not the Most of IoT devices, especially those in cities and industrial
only thing that 5G is going to provide as its prices are going sectors, don't require the same speed and bandwidth of
to be economical. The evolution of 5G will help in setting consumer cellular devices. LPWA Network (LPWAN)
high-speed internet services for individuals and technologies enhance the business case for IoT solutions,
organizations on the Internet of Things and low latency offering a cost and power-efficient wireless option that
applications. leverages existing networks, global reach, and strong built-
in security.
Vehicle-to-Everything Wireless (V2X) Compulsory in
Future for All Vehicles Wireless Sensing Enforce Effective Communication
V2X wireless system will allow normal and autonomous A Wireless Sensor Network (WSN) can be specified as a
cars to communicate with each other and with the network of devices that can communicate the information
infrastructure on the route. This new technology will help in gathered from a monitored field through wireless links. The
34
ss Technologies Are
munication For Better
ata is moved forward through different nodes and with a gateway, the data is connected to other networks like wireless
Ethernet. WSN is a wireless network that includes base stations and numbers of nodes (wireless sensors). Networks are used
to monitor physical or environmental conditions like sound, pressure, temperature and co-operatively pass data through the
network to the main location.
The improvement in
technologies over the past
decade has allowed the
widespread use of millimeter-
wave to address the challenges
of lower frequency and high-
speed communications. The
evolution of network
technologies from 1G to 5G
has taken almost five decades
from 1G in the 1980s to 5G in
the 2020s. The possibility of
achieving data rates of up to 10
gigabits per second, where the data
rates are restricted to less than 1
gigabit per second in microwave
frequencies has increased. The
application of millimeter waves to
automotive radar solutions, high-speed point-
to-point communication, streaming high-
resolution videos, and carry large amounts of data.
35
INNOVATING WIRELESS TECHNOLOGIES
Backscatter communication technology has been introduced recently. It is becoming a go-to choice for self-sustainable
communication systems as an external power supply or a dedicated carrier emitter is not required. By using existing RF
signal resources, backscatter technology can support sustainable and independent communications and consequently open up
a whole new set of applications that facilitate Internet-of-Things.
Software-defined radio is an RF
communication system that incorporates a
significant amount of this software-based
signal-processing functionality. It is a
concept according to which RF
communication is achieved by using
software to perform signal-processing tasks
that are typically performed by hardware.
This communication system provides a
vehicle for carefully analyzing RF signals
and experimenting with modulation and
decoding techniques. It also makes custom
RF communication systems more
accessible to those who have limited
experience with RF design.
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