Managing Compliance and Risk in One Location with Drata

Brian Elmi, Head of Product
August 18, 2022

Risks can range from servers going offline and software errors, or malicious activity like phishing, compromised users, and ransomware. It’s hard to predict what will go wrong until it does, which is why you need to be proactive about risk management.

At Drata, we know that risk management requires a holistic approach to properly evaluate where you stand. It’s why we’re thrilled to announce the launch of our Risk Management solution, which enables our users to manage end-to-end workflows to identify, assess, and treat risk and compliance in one central place. We’re committed to partnering with our customers to build trust with who they work with and ensure everything they’ve worked hard to keep safe stays that way.

Upgrading Your Risk Management Process

The days of using spreadsheets and outdated systems to manage risks are over. Manual processes lead to more room for human error and a disconnect between critical information, such as regulatory requirements and controls necessary for risk mitigation.

Going hand-in-hand with compliance, a robust risk management process is critical to the security posture of any organization. We’ve built our Risk Management solution to automate your risk management process and track risk and compliance in a central location, with one clear view.

With the ability to cleanly display potential risks, how they’re being managed, and your company’s risk treatment plan, teams can collaborate cross-functionally with insight to all aspects of the risk management process.

What is Risk Management? 

Risk management is the constant and sustained process to identify, assess, manage, and monitor risks in an organization that could impact its security, reputation, and financial health. 

Given the importance of technology in day-to-day business operations, systems being down can quickly spiral to other parts of the business. As cyber attacks have increased in frequency and severity, there is an urgent need for a proactive and integrated risk management program to mitigate poor outcomes.

Who is Drata’s Risk Management Solution for?

As companies mature, so does their appetite for compliance and risk management capabilities. Drata’s Risk Management solution is for mature organizations seeking to streamline or take the next step in their compliance journey by prioritizing the expansion of their risk management program. Teams will gain greater visibility into risks and strong integration with current processes. This is accomplished through a centralized view integrating compliance and risk management capabilities, continuous automated monitoring, and a risk register with more than 150 pre-mapped threat-based risks.

Key Features

There’s a better way to manage your risk and compliance than bouncing between different clunky tools, creating more work using manual processes, and performing tedious routine tasks.

Drata’s Risk Management automates the risk management process and gives you a simplified way to report back to senior management. These key features will save you time and effort while consolidating and automating your risk management process.

Pre-Built Risk Library

Building a risk register is the first step to an effective risk management program. It enables you to identify, categorize, and analyze your risks to be knowledgeable about system vulnerabilities.

You can manage your risk program effectively and recognize evolving patterns—whether that be a particular software flaw or security training shortcomings—to focus necessary investments on the most critical risks.

A risk register is a valuable tool and resource but building one, especially manually, can be a time-consuming process. We’ve done the work for you by building a library of 150+ threat-based risks based on established sources. With this pre-sourced library at your fingertips, you can leverage and tailor as needed to build your organization’s risk register.

Pre-Mapped Controls to Risks

Drata automatically pairs risks in our library with pre-mapped controls where applicable. You will cut down on the time and effort spent researching and identifying the controls needed to mitigate those risks. This allows you to unlock the power of our automated tests to put your risk management on autopilot.

Risk Report and Treatment Plan

We know your company’s risks will be unique and specific, which is why your treatment plan and risk report should be too. Drata’s Risk Management provides a library of risks based on NIST SP 800-30, ISO 27005, and HIPAA for your assessment while maintaining the flexibility to customize risks and treatment plans based on your organization’s specific needs.

The risk report you receive from Drata also allows you to share tangible proof to executives of the daily efforts your team is taking to assess, manage, and mitigate risk.

Customizable to Your Needs

We’ve created the features you need to customize your program while saving your team time and effort. For instance, you can use our pre-built register of over 150 pre-mapped risks or make your own with new titles, descriptions, and categories.

You can also assign risk owners to delegate responsibilities and ensure nothing is missed. Each control is given a risk assessment score based on the likelihood of it happening and its impact. Determine the treatment plan of each risk in one place, whether to accept, mitigate, transfer, or avoid the risk. When a risk is assigned to a control and you receive a failed control notification, you can categorize the risk notifications by treatment plan, category, or assessment.

Continuous Risk Monitoring

We’ve built Drata’s Risk Management to be a seamless solution where you can assess, resolve, and monitor all of your risks in one place. Our platform continuously monitors your security and compliance posture to alert you with new or evolving risks to your organization. It also evaluates the effectiveness of the controls you have in place to mitigate risks, and notifies you of any risks that may require your attention. By leveraging Drata’s continuous monitoring, you can prepare for the unexpected and address any concerns before they pose a real risk to your business.

Having a central view of your security posture with real-time risk report capabilities will also streamline cross-functional security and compliance efforts.

Be Proactive with Drata’s Risk Management Solution

Brand reputation is on the line when it comes to any sort of breaches, system interruptions, or system outages. It can be extremely damaging to your brand and company financials—being prepared is key so you aren’t caught off guard. Being proactive with risk and compliance will not only save your company time, effort, and money but prove to your customers, partners, and prospects that you prioritize security.

Drata’s risk management solution allows you to have one central view of all of your risks, create risk scores, assess which risks you want to treat, and give you a treatment plan to make sure you can resolve issues quickly.

If you’re ready to build up or reinforce your risk management process with a customizable solution that pairs risk management and compliance in one central tool, book a demo today.

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