Scrut Automation unveiled Risk Management, a risk assessment tool, to further bolster its offerings in the compliance automation industry.
Larger organizations use legacy Enterprise Risk Management (ERM) tools to manage the risk assessment and management processes, but these are difficult to adopt for mid-market SaaS and Fintech companies and often lack relevant integrations.
Scrut Risk Management is a product that aims to help its customers gain complete visibility into their risks, allowing them to prioritize and manage risks better. Scrut Risk Management does so through:
- Automated risk identification: Prebuilt library of risks guides organizations in identifying relevant risk areas and uncovering often-overlooked risks.
- Ready integrations: With out-of-box integrations, the tool connects across an organization’s application landscape to identify potential risk areas.
- Real-time risk register: A real-time risk register gives a comprehensive view of all organizational risks, strategies and actions adopted to manage them, and residual risks.
- Mitigating controls monitoring: The tool has automated workflows for tracking the implementation of and evidence collection for mitigating controls.
- Risk assessment reports: The tool generates automated risk assessment reports that can be readily shared with compliance auditors for SOC 2, ISO 27001, PCI DSS, GDPR, and other infosec frameworks.
Kush Kaushik, Co-founder of Scrut Automation, said: “Legacy enterprise risk management tools are bulky to use and often overkill for growth stage and mid-market startups. Scrut Risk Management is built to bring enterprise-grade risk assessment to this segment through an automated risk observatory around multiple cyber assets, processes, and endpoints.”