Automated Controls Reduce Errors and Costs
Regulatory and compliance issues have emerged at the center of enterprise IT. Putting appropriate oversight in place is increasingly critical, and how an organization goes about the task affects everything from what technology and systems the enterprise adopts to how workers use technology and what security protections the firm puts in place. United Kingdom-based Turnkey Consulting recently surveyed 108 IT professionals and found that automated controls are critical for achieving success in the governance, risk and compliance arena. These controls offer a cost-effective way to reduce compliance costs, strengthen the internal control environment, and reduce the risk of unintentional errors and fraud. "A Risk Perspective on 2013" found that 48 percent of organizations have some automated controls and plan to increase the number of controls they automate, while 15 percent don't currently have automated controls but plan to invest in this area. Richard Hunt, managing director at Turnkey, says that corporate regulations require businesses to put in place a robust internal environment. "There's an increased focus on IT security in IT initiatives," he observes. "Companies are finding that cost savings and efficiency gains can be made through controls automation." Marc Jackson, a solutions lead at Turnkey, says, "Controls should be put in place with an objective to mitigate a specific risk or set of risks."