PRESS RELEASE
DALLAS, March 18, 2024/PRNewswire/ — Pathlockthe leading provider of identity and application access governance, today announced the availability of Continuous Control Monitoring (CCM), a product within the Pathlock cloud platform that includes control management, risk quantification, and change tracking to streamline control mechanisms from various frameworks into a single centralized, automated system. Large enterprises will be able to continuously monitor all corporate control, segregation of duties and IT configuration change transactions, replacing the current method of periodic spot reviews. The goal is to reduce both business losses and audit costs through continuous verification of controls in financial and other applications.
The availability of CCM will enable Pathlock customers to prioritize risk resolution based on potential impact to best utilize available resources and limit business process risks (financial, operational and security) through two key modules:
Control management: This module offers the ability to integrate and simplify business processes and manual process control mechanisms from various frameworks into a centralized, automated system. It provides greater risk visibility, improves efficiency and reduces manual effort in maintaining compliance. Risk quantification functionality analyzes transaction data to enable organizations to quantify the financial exposure of Separation of Duty (SoD) violations and business process transactions within or across application environments.
Change Tracking: This module generates events and sends notifications to a company to analyze master data and key application configuration changes in the company system. It allows for detailed analysis of changes, including the source of the change, the user who initiated the change, along with before and after values, including items that were deleted, and to take corrective and/or preventative actions depending the impact of the change. This functionality helps maintain a complete audit trail over configuration and master data changes.
By implementing standardized, automated process controls based on accepted frameworks, organizations can quickly improve their cybersecurity posture while reducing manual efforts. Reducing manual efforts results in lower internal and external resource costs, fewer errors and reduced audit preparation time.
“As the digital landscape continues to evolve and new risks are identified, continuous controls monitoring allows organizations to stay one step ahead of risks by providing real-time visibility, increased compliance and proactive mitigation,” said Piyush Pandey, CEO of Pathlock. “As an important element of the strategy Pathlock cloud vision, Pathlock’s CCM is a cross-industry solution that focuses on user access and the potential impact of inappropriate access to sensitive data or SoD breaches so that such breaches can be quickly resolved. We are excited to see the time- and cost-saving benefits these capabilities will bring to our current and future customers.”
As identity emerges as the new cybersecurity perimeter, it is important that organizations maintain full visibility and control over their ecosystems. However, many identity and access management solutions only offer the ability to manage users who enter, move, and leave an organization, but fall short when considering the potential risk a user could cause by access provided. Additionally, legacy Identity Access Management (IAM) solutions can generate alerts for potential risks, but fail to prioritize or quantify the impact of those risks. This means that every potential risk looks the same and doesn’t allow IT or application security administrators to quickly assess and address the most important risks first. With rapidly evolving technology environments, it’s easy for changes to disrupt an organization’s security posture and go unnoticed. Pathlock’s continuous audit monitoring capabilities provide a comprehensive audit and remediation path for any changes that may occur, creating a proactive and adaptable cybersecurity posture.
Pathlock provides visibility into risks and quantifies the financial impact of those risks so that appropriate remediation can be implemented to limit exposure to threats that could have a material financial impact on an organization. For more information, visit our website here: https://pathlock.com/products/continuous-controls-monitoring/.
About Pathlock
Pathlock is a leader in identity and application access governance. When traditional identity governance and administration isn’t enough, Pathlock enables enterprises to manage all aspects of application access governance, continuous control monitoring and cybersecurity through a single platform, for all applications, including granular user provisioning, user access reviews, segregation of duties, audit testing and audit preparation. Today, many of the world’s most respected global 2000 companies rely on Pathlock to protect their critical digital assets from financial, regulatory and security threats, ensure corporate compliance and improve performance. As a result, our customers have saved millions in employee productivity, labor costs, audit fees and data loss prevention.