Major Consumer Products Leasing Firm Streamlines Incident Management
Company Size
1,000+
Region
- America
Country
- United States
Product
- NAVEX IRM
Tech Stack
- Integrated Risk Management
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Digital Expertise
- Productivity Improvements
Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Consumer Goods
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Remote Asset Management
Services
- System Integration
About The Customer
The customer is a major consumer products leasing firm. The company is a market leader in lease ownership of consumer products. The company faced both compliance requirements and issues dealing with incidents. The company couldn’t efficiently assign tasks related to incidents. The company’s solution was reliable for gathering information on incidents, but it lacked steps for managing information toward a resolution in a secure manner. Another hurdle was controlling and restricting access to information around incidents that involved HR and, by extension, the Healthcare Information Portability and Accountability Act (HIPAA). Additionally, the company’s use of vendors pointed to the need for regular assessments and a defined process for managing vendor incidents.
The Challenge
The company faced challenges related to compliance requirements and incident management. The existing solution was reliable for gathering information on incidents, but it lacked steps for managing information toward a resolution in a secure manner. The company also faced hurdles in controlling and restricting access to information around incidents that involved HR and the Healthcare Information Portability and Accountability Act (HIPAA). Additionally, the company’s use of vendors pointed to the need for regular assessments and a defined process for managing vendor incidents. The company sought a more secure and efficient way to manage incidents associated with HR, vendors and IT, as well as a smarter approach to IT risks and vulnerabilities.
The Solution
The company chose NAVEX’s governance, risk management, and compliance (GRC) platform, NAVEX IRM, for its capabilities in integrated risk management (IRM). NAVEX IRM enables organizations to gain a comprehensive view of their business and operations from a risk perspective—connecting individual risk disciplines and managing them in one centralized program. The company’s Information Assurance team used NAVEX IRM for incident management, both in terms of securing data and integrating data for processing. They leveraged the solution’s roles and permissions feature to restrict data access to only those who needed it. Data that involved HR with HIPAA implications was also easier to manage and protect, using NAVEX IRM which links together data collected, controls, compliance mandates, contract requirements and more. Data stored and managed this way requires less effort by the company to prove compliance and manage risk.
Operational Impact
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