BWise Receives Independent Analyst Recognition in IT Governance, and Launches COBIT 4.1 Template
New York, NY, ‘s-Hertogenbosch, Netherlands, April 29, 2009 – BWise, the global leader in governance, risk and compliance (GRC) management software, today announced the availability of its IT Governance best practice solution based on COBIT 4.1. The solution enables organizations to reduce compliance costs by automating key IT compliance processes, including policy management, business risk management, operational control, monitoring, continuous improvements and reporting. The solution will result in substantial cost savings and improved return on IT investments.
With the new IT Governance template, organizations will be able to implement IT Governance in their organization, and also realize a better alignment of the IT organization with the business. Luc Brandts, Founder and CTO of BWise states, “BWise is an integrated platform for all Governance, Risk and Compliance management related projects, including capabilities for Internal Audit and IT Governance. This will help companies to leverage existing documentation, and streamline communication with business and IT managers. With the BWise GRC platform, a true alignment between Business, IT management and Internal Audit can be realized.”
The BWise template includes the COBIT 4.1 framework and 34 processes in four domains with 210 control objectives, including their risks and controls. Customers can select the elements that are relevant to their business from a library and link them to their overall GRC efforts. This will provide managers, IT users, and auditors with several benefits such as in-depth reports upon which IT related decisions and investments can be based in a more effective manner.
COBIT has achieved international recognition and is widely regarded as an established governance framework for the management of IT risk and control. Business processes are the foundation of bridging the gap between the various silo approaches within an enterprise. Convergence of controls will significantly lower compliance costs, improve transparency and governance.
Gartner recently released its MarketScope for IT Governance, Risk and Compliance Management¹ and rated BWise as ‘Promising’. "Our clients use us for many integrated aspects of Governance, Risk Management and Compliance,” stated Mr. Brandts. “It is great to see we are recognized by Gartner as a player in the IT GRC market.”
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¹ Gartner MarketScope for IT Governance, Risk and Compliance Management, by Paul E. Proctor and Mark Nicolett, April 13, 2009