dramds.com ltd., a British technology company now provides a same-day solution to Data Governance risk exposure with its DataGovernanceApp – a new solution of mobile apps that work on all mobile phones, tablets, laptops, and desktops. Deployment across a corporate network can take as little as three (3) hours depending only on whether the customer has a bespoke list of risk and controls. Typical pricing is $200,000 based on 100 users (excluding service taxes).
DataGovernanceApp is a new mobile-based application designed to protect organizations against claims of non-compliance from regulators and customers. DataGovernanceApp is configured to meet key regulatory frameworks such as ISO 27001, Cobit 5, COSO, Generations of Basel and SOX by requiring signatures in-app after testing and certification. dramds offers many suitable risk and controls catalogs based on the details of the Data Quality testing and Data Ownership and can also write the custom controls catalogue for a customer’s requirements. Moreover, it generates its own certification packs that role-up the testing, controls, risk and governance for high-level management review, with in-app photos of evidence of system testing.
Read More: Edge Computing Trends to watch out for in 2021
Compliance with such a broad range of regulation for Data Governance is achieved through the following 5-way modular approach to the in-app user experience:
- Controls: libraries have been written around controls but they are rules that are signed, dated and sent by DataGovernanceApp via time-stamped email to create the audit (aka 3rd-line) trail. This is the evidence the Regulators and Auditors require for Data Governance.
- Risks: Companies accept certain risks to make money, but the Risk module captures the key risks, ranks them, defines them according to framework concepts such as Materiality etc.. The risk relationship of the DataGovernanceApp can be tailored to an organisation’s risk methodology: 1-control per risk or multiple checks per control and so on.
- Testing module: our years of experience in GRC mean we understand the need for dashboards that show the testing completeness data and time left for testing. This includes speed-dials on the back-end user database for users who still want the laptop experience.
- Deficiencies Module for good governance; Risk management isn’t a perfect science; trading conditions change, new risks evolve and with them, like DataGovernanceApp, novel ways to mitigate those risks also rise up. This module captures the gaps in the Risk management, mitigation and dates to resolve them. This is the Board-level component along with the last module:
- Management Information Reporting: dashboards showing the statuses graphically of all modules in DataGovernanceApp are built as standard and can be customised to the end-users needs.
“DataGovernanceApp is not just a tool, it can produce a risk or controls certification pack routinely and email out via your own servers,” says Dr. McDonagh-Smith.
Read More: Combating Ransomware Attacks with Innovative Strategies
“Ultimately, assurance comes from the signature handwritten on to the app which signs off the company’s risk management solution. DataGovernanceApp can protect the organization from penalty by evidencing the governed data landscape in a pragmatic way: one that requires minimal investment in infrastructure or system transformation and is readily deployable,” says Dr. Anthony McDonagh-Smith.