Gartner: Pandemic Drives Client Interest in Integrated Risk Management (IRM) to #1

April 16, 2020  Jeff B. Copeland

Leading consultancy Gartner says that integrated risk management (IRM) was the most asked-about topic in client calls covering emerging technologies in Q1, “as a result of increasing interest in business continuity, environment, health & safety and third-party risk management,” Gartner Global Research Leader - Risk Management Technology John A. Wheeler writes in a new blog post. “These are all areas critical to effective response to COVID-19 business interruption.”

Gartner defines IRM as “practices and processes supported by a risk-aware culture and enabling technologies that improve decision making and performance through an integrated  view of how well an organization manages its unique set of risks.” Gartner does not endorse any vendor, but the influential advisory firm did cover RiskLens in a report to clients earlier this year titled “Competitive Landscape: Integrated Risk Management.” While RiskLens is not an IRM solution itself, it integrates as the risk quantification solution with IRM vendors RSA Archer, ServiceNow GRC and Galvanize – and Gartner has previously named  risk quantification a critical capability of IRM.

RiskLens is the leader in cyber risk quantification, offering the only SaaS platform built on the FAIR™ model, the international standard for quantitative analysis of cyber and technology risk. With RiskLens, CISOs and other tech leaders are able to communicate about risk in the shared financial terms used by the rest of the enterprise risk management team and fully join in, as Gartner says, an organization’s “effective response” to COVID-19. Other top concerns in the Gartner client survey also pointed from different directions to adapting to the challenge of the pandemic, particularly the work at home workforce:

To help organizations adapt to the current crisis, RiskLens recently released two new solutions, a  Work from Home Risk Assessment and a  Phishing Risk Assessment, both offered at no charge for a limited period. Please contact us to learn more.