Product Updates

Product Update: Introducing anecdotes’ Revamped Risk Application

January 28, 2024

Product Update: Introducing anecdotes’ Revamped Risk Application

Wave goodbye to uncertainties and embrace a risk-based mindset with anecdotes' Risk App - a comprehensive solution for Compliance leaders seeking continuous risk monitoring. Powered by automation and data, the Risk App delivers unmatched enterprise-level risk management insights and monitoring capabilities, enabling organizations to apply automatically identified security and Compliance gaps to a broader risk management context. By providing the automated or manual ability to assign mitigating controls to risks, anecdotes enables organizations to achieve data-powered, continuous risk management.

Digital Revolution Unleashes Unprecedented Risks

Risks today are more complex and interconnected than ever before. And with the increasing reliance on technology and ever-increasing data points, risks have become critical concerns for organizations. Traditional risk assessments, often performed as a one-off or annual exercise, may not adequately address these evolving risks, as they often lack the expertise and tools to assess threats, data breaches, and vulnerabilities in digital infrastructure. Usually performed periodically as a box-ticking activity, traditional risk assessments are no longer sufficient as a one-off or annual exercise. Organizations need continuous risk assessments –powered by data and automation – to safeguard their data and strengthen their overall risk posture.

anecdotes Risk Application: Data-Powered Risk Management for Smarter Decision Making

To facilitate risk management for organizations, the anecdotes Risk Application was developed utilizing anecdotes' data-driven automation infrastructure and is part of our holistic approach to the worlds of Risk, Security, and Compliance. By leveraging data and automation, organizations can gain greater visibility into the risks they face, the effectiveness of their controls, and the impact of their risk management efforts. This, in turn, empowers organizations to make more informed decisions about allocating resources, prioritizing risk management activities, reducing overall risk levels, and demonstrating Compliance with regulatory requirements and industry standards.

How it works

Simplified Risk Management with Increased Visibility

Treatment Plan: Define risk treatment strategy, and initiate work plans - either using internal tasks or utilizing anecdotes collaboration tools such as Jira, FreshService, and more. Monitor these tasks in real-time, and update treatment plan statuses accordingly. As your risk evolves over time, a treatment plan history is recorded, allowing you to report on the lifecycle of each risk, ideally showing a positive trend over time.

Automated approval cycle: Create risk acceptance accountability by sending accepted risks for formal review and approval by relevant stakeholders. This process can be configured to occur as a one-off or periodically, and once set, runs on auto-pilot.

End-to-End Configurability

anecdotes’ Risk App is fully aligned with your organization’s specific needs and risks, allowing you to benefit from a fully tailored risk management solution.
Risk Matrix: anecdotes doesn’t require you to conform to our way of doing things - if you are used to working with a 3*3 risk-likelihood matrix, that is what you will have in anecdotes! If you are used to working with a 10*10 matrix, that is possible too. Furthermore, your terminology, values, and definitions can also be implemented.

Tags: Assigning unique categorizations to your Security and Compliance activities, be that risks, controls, tasks, or more, is essential for monitoring and reporting capabilities. As such, anecdotes enables you to assign fully customized tags across the platform, which you can filter, sort, and create dashboards from.

Enhanced Security Posture

By linking controls to risks across frameworks, Compliance leaders can ensure that risks are appropriately managed, resources are allocated effectively, and compliance requirements are continually met to enhance risk management practices.
Controls Linked to Risk: By linking Mitigation Controls to risks, you receive contextualized information about how your defined risks are affected by changes in relevant controls. When gaps are identified, alerts are sent to the risk manager, indicating that the risk might require additional treatment.‍

Navigate the digital age securely with anecdotes Risk Application

Want to learn more about how anecdotes Risk App can help your organization identify potential gaps across multiple frameworks and remediate them proactively? Contact us to learn more about how we can automate risk management and Compliance for your organization.