Governance Contractors GRC Platform For CMMC

Case Study: Empowering Governance Contractors with Risk Cognizance's GRC Platform

The Challenge:

Governance contractors, often working with multiple clients across diverse industries, face unique challenges in managing GRC. They need to efficiently handle varying compliance requirements, maintain consistent processes, and provide clear reporting to each client while maximizing their own operational efficiency. A specific governance contractor struggled with:

• Managing multiple clients with different compliance needs: Each client had unique regulatory requirements (e.g., CMMC, NIST 800-53 and NIST 171), making it difficult to maintain consistent processes and ensure comprehensive coverage.
• Lack of a centralized platform for managing client GRC programs: Managing client information and activities across spreadsheets, emails, and disparate tools was inefficient and prone to errors.
• Time-consuming reporting and documentation: Generating reports for each client was a manual and time-consuming process, impacting profitability.
• Difficulty scaling their business: The manual nature of their processes limited their ability to take on new clients and grow their business.
• Maintaining consistent methodologies: Ensuring consistent application of governance methodologies across different client projects was difficult.

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The Solution: Risk Cognizance GRC Platform with Multi-Tenancy and Whitelabeling

The governance contractor implemented Risk Cognizance, leveraging its key features designed specifically for service providers:

• Multi-Tenant GRC: This feature provided separate, secure workspaces for each client, allowing the contractor to manage multiple GRC programs from a single platform. This ensured data segregation and simplified client management.
• Whitelabel GRC: The contractor whitelabeled the Risk Cognizance platform, branding it as their own to enhance their professional image and build stronger client relationships.
• Compliance Framework Library and Cross-Walking: The extensive framework library allowed the contractor to quickly map controls to each client's specific regulatory requirements. The cross-walking feature minimized redundant efforts and ensured consistent compliance across different frameworks.
• Risk Register and AI Risk Management: A centralized risk register provided a clear view of each client's risk profile. AI-driven insights helped prioritize risks and develop effective mitigation strategies.
• Automated Control Testing and Monitoring: Automated control testing and monitoring ensured the effectiveness of security controls and provided continuous assurance of compliance for each client.
• Policy Management and Policy Linker: The contractor used the policy management features to create and manage policies for each client and the Policy Linker to connect policies to relevant controls and risks.
• Reporting and Dashboards: Customizable reports and real-time dashboards provided each client with clear visibility into their GRC posture. The contractor also used reporting features for internal management and performance tracking.
• Project Management & Task Management: These features facilitated efficient management of client engagements, tracking progress on specific GRC related projects, and assigning tasks to team members.

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Key Results and Benefits:

• Improved Efficiency and Scalability: The multi-tenant architecture and automation features allowed the contractor to manage more clients with the same resources, significantly improving efficiency and scalability.
• Enhanced Client Satisfaction: Clients appreciated the clear reporting, consistent processes, and professional presentation of the whitelabeled platform.
• Increased Profitability: Streamlined processes and reduced manual effort led to increased profitability.
• Consistent Methodologies: The platform helped ensure consistent application of governance methodologies across all client engagements.
• Stronger Brand Recognition: Whitelabeling the platform enhanced the contractor's brand image and strengthened client relationships.
• Reduced Operational Costs: Automation significantly reduced manual effort related to reporting, documentation, and other GRC tasks.

Specific Examples of Impact:

• Client Management Capacity: The contractor was able to onboard 30% more clients without increasing headcount.
• Reporting Time: Report generation time was reduced by 80% through automation.
• Client Retention Rate: Client retention rates increased by 15% due to improved service delivery and client satisfaction.

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Conclusion:

By implementing Risk Cognizance, the governance contractor transformed their business, enabling them to efficiently manage multiple clients, scale their operations, and enhance their professional image. The platform's multi-tenancy and whitelabeling features were particularly valuable, allowing the contractor to offer a branded, high-value GRC service to their clients. This case study demonstrates the value of Risk Cognizance as a powerful GRC platform for governance contractors and other service providers. Get A Free Demo Of Our GRC Platform Today