GRC failures cost UK £1.5bn

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Failure to deal with governance, risk and compliance (GRC) regulations and directives is costing the UK economy more than £1.5 billion a year, a study has revealed, reports Computer Weekly.com.

According to the study, 74% of businesses are finding that regulations and fear of reputation damage are stifling innovation.

The study found that a large number of CIOs indicate that employees in their organisations will turn a blind eye to GRC to prevent a loss of productivity.

EMC has released a report from the Leadership Council for Information Advantage that explores how the use of public and hybrid cloud computing services are transforming governance risk factors, states Advertiser Talk.

According to a CIO market survey conducted by IDG Research Services, three quarters of IT organisations are running or plan to deploy applications in a private cloud environment.

Mark Lewis, EMC chief strategy officer of EMC's Information Infrastructure Products Business, says: “If IT fails to embrace information governance strategies that span enterprise, private cloud and public cloud infrastructures, their efforts to leverage information for business advantage will never be fully realised.”

The latest version of Lumension Risk Manager, version 4.2 has been released to bridge the gap between security professionals and senior management, says TMCnet.

Lumension Risk Manager helps security professionals to gather key risk data and measure it across the enterprise.

Jeff Hughes, director of solution marketing for Lumension, says: “The ability to track and benchmark an enterprise's security posture on a continuous basis is vital to maintaining a protected network.”