SOURCE: Mitratech

March 18, 2008 13:31 ET

Internal Policies and Procedures Emerges as the Primary Driver for Organizations to Invest in GRC Systems, Ahead of Government Regulations

Aberdeen Group / Mitratech Benchmark Report Uncovers a Developing Shift in GRC Implementation Objectives From Compulsory Compliance Reporting to Reaping Measurable Business Benefits

LOS ANGELES, CA--(Marketwire - March 18, 2008) - Mitratech, a leading provider of software solutions for organizations to manage legal, compliance, and security risks, today announced the results of a newly released benchmark report, "GRC Strategic Agenda: The Value Proposition of Governance, Risk, and Compliance." In this report, Aberdeen Group, a research and market intelligence firm, examined leading organizations' Governance, Risk, and Compliance (GRC) strategies and found that, on average, only 53% of sensitive data is protected from insider abuse.

Additionally, 64% of organizations responded that the percentage of sensitive information that needs to be protected increased over the past 12 months, while only 22% currently have a sensitive information loss solution in place.

The report found that leveraging top-down procedures, customized policies, integrated and scalable solutions, automated analysis procedures, and clearly articulated reporting tools allowed organizations to significantly impact high-level business metrics and derive optimal benefits from GRC implementations.

"Organizations today are facing a multitude of monetary and reputational risks and the need to comply with regulations is always a key pressure," said Afshin Behnia, President and CEO of Mitratech. "An effective GRC strategy, supported by the right technology, is critical to agile, responsible, and sustainable business growth. TeamConnect GRC helps protect organizations against losses, fines, and damage with a holistic, enterprise-wide view into the exposures that threaten operations."

"Implementing a holistic and efficient GRC solution can directly alleviate the pressures and pains that are top of mind to the C-suite with a 16% increase in optimizing existing business processes," explains Stephen Walker, Esq., Senior Associate in Abderdeen's Technology Markets Group.

"Our customers have been able to experience dramatic reductions in the time, effort, and errors associated with governance, risk, and compliance management," said Mr. Behnia. "The system's flexibility quickly responds to changing business requirements and compliance regulations, allowing our customers to optimize business processes and ensure their alignment with corporate strategic objectives."

The Aberdeen report provides organizations with a roadmap to implementing GRC initiatives in a top-down, proactive, and business-advancing manner. By analyzing three of the most important and financially relevant aspects of a GRC initiative -- compliance regulations, data security, and risk management -- Aberdeen offers guidance on GRC programs that contribute to bottom-line success.

The report educates end users on the most effective approaches to developing and deploying GRC initiatives that drive significant business, as well as technological value. It outlines a roadmap for organizations to evaluate the current status of their GRC initiative and provides direction to augment and advance business goals. To obtain a complimentary copy of the report, please visit: http://www.aberdeen.com/link/sponsor.asp?cid=4519.

About Mitratech

Since 1987, Mitratech has provided matter management, compliance, and security solutions to the world's largest organizations. With direct access to financial, performance, and exposure data, our clients have better aligned departmental management strategies with corporate and budgetary objectives. Beyond operational efficiency gains, Mitratech clients use TeamConnect to collaborate with business partners, provide superior service, and realize tangible cost savings. For more information, please visit www.mitratech.com.

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