Optro (formerly AuditBoard), the leading AI-powered GRC platform empowering enterprises to transform risk into opportunity, announced its Business Continuity Management (BCM) solution designed to help customers ensure the continuation of critical business functions and processes such as payroll processing, security operations, and customer support, during and immediately after a disruption. The announcement took place at Optro’s flagship global customer conference, CRX EMEA, in London.
Optro also today released its data report: “When business continuity fails.” The report, based on a survey of 500+ audit, risk, compliance, and BCM leaders across North America and EMEA, finds that confidence far outpaces performance: 92 percent of leaders say they’re confident they can meet recovery objectives, yet among the 76 percent who faced a third-party disruption in the past two years, fewer than half actually met them. Four in ten of those disruptions cost enterprises $1 million or more. Optro’s BCM solution is built to close that gap and build resilience by helping organizations:
- Gain cross-functional context: Map key business processes with respective dependencies, owners, vendors, and relevant risks in a single-view within the Optro platform.
- Create always-current plans: Connect plans to processes to auto-populate criticality ratings, recovery time objectives, recovery point objectives, updating in real time as assessments change.
- Simulate real-world disruptions: Link tabletop exercises directly to business continuity plans and automatically pull in all related processes and dependencies for a complete picture.
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“We believe Optro’s BCM solution will allow us to bridge the gap between risk management and operational response,” said Kate Marechal, Director, Operational Risk and Risk Services at Shawbrook Bank. “By gaining a single view of our business processes within the same platform we use for audit, risk, and compliance, we should be able to better understand what’s critical to our operations, plan for disruptions that could materially impact our business, and test those plans to remediate issues before a disruption happens.”
“Most organizations are confident in their continuity plans on paper, but when disruption actually hits, fewer than half deliver on their objectives,” said Happy Wang, Chief Product and Technology Officer at Optro. “With our BCM solution, customers will be able to seamlessly integrate their business continuity programs with their audit, risk, and compliance data, providing the GRC intelligence needed to move beyond static reporting to proactive strategy and true operational resilience.”
SOURCE: PRNewswire