Company: Agiliance, Sunnyvale, CA
Company Description: Agiliance is the leading independent provider of Integrated Risk Management solutions for Governance, Risk, and Compliance (GRC) programs. Agiliance RiskVision enables Global 2000 companies and government agencies to automate their GRC management processes; and the same platform orchestrates incident, threat, and vulnerability actions in real time.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: New Product or Service of the Year - Software - Governance, Risk & Compliance Solution

Nomination Title: Agiliance RiskVision 7

1. Tell the story about this nominated product or service (up to 525 words). Describe its function, features, benefits, and performance to date:

Organizations are grappling to find the best way to leverage their knowledge of risk to optimize business investments and performance. Current risk management and governance practices are inadequate. Previously, organizations had two options. The first was to hire a legion of staffers to tackle governance and security risks using a silo-based approach, often leveraging antiquated tools such as spreadsheets to document their findings. The second was to implement Governance, Risk, and Compliance (GRC) processes using outside consultants and traditional GRC solutions that require high levels of customization. A recent white paper written by global advisory firm Enterprise Strategy Group (ESG), entitled "Beyond GRC: SRM and the Move to Integrated Risk Management", found that a majority of respondents view the traditional mix of GRC systems as inflexible, slow, and incapable of delivering on the promise of automating governance and security risk management processes. A whopping 78 percent of the enterprises surveyed are in the process or planning to replace them with advanced Integrated Risk Management (IRM) platforms in order to increase operational efficiency and audit accuracy, streamline remediation, gain improved visibility into enterprise risk posture, and ultimately make better investment decisions.

RiskVision uniquely addresses operational and security risk management needs of organizations in a single platform by harmonizing multiple frameworks to marry top-down risk modeling for enterprise domains and regulatory audit compliance with bottom-up controls automation for closed-loop threat, vulnerability, and incident remediation.

RiskVision creates a repeatable, sustainable compliance program by mapping controls to multiple regulations, standards, and processes including SOX, PCI, ISO, NIST, FFIEC, NERC, HIPAA, FISMA, etc. This enables organizations to "test-once and comply-to-many" regulations.

Beyond the automation of the governance processes, RiskVision enables organizations to make risk visible, measurable, and actionable in near real time. This leads to better investment decisions and improved operational efficiency.

In the last year, Agiliance made significant innovations to the RiskVision platform, introducing a new set of connectors and recently, in RiskVision 7 made it possible to mine petabytes of operational and security risk data to manage near real time workflow, intelligence, and analytics - further driving business impact and performance.

RiskVision was selected over its competition by two global financial services firms funding mid seven-figure transformation projects for line of business, third-party, and application risks. Proof of concepts showed RiskVision's modern architecture was 10 to 25 times better in scalability and sustainability, with an ROI and solution success rate deemed best-in-class.

Today, RiskVision is the only production solution managing over 10,000 practitioners and 500,000 assets. One Agiliance customer, Fiserv, reports that it can produce a detailed risk profile that previously took six months using its old manual process in only three months with RiskVision. The older method required 7-10 more staff members and cost Fiserv an additional half-million dollars. With RiskVision, Fiserv achieved $1 million in overhead savings per year, and their enterprise risk management team has gained credibility with management, regulators, and the board of directors.

Agiliance has been granted four patents; and five are pending. Analysts describe RiskVision as the leading product in its category. RiskVision has garnered 30 industry accolades over the last 16 months.

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2. Provide a brief (up to 125 words) biography about the leader(s) of the team that developed this nominated product or service:

Torsten George, Vice President of Worldwide Marketing, Products, and Support Torsten is responsible for driving company growth through marketing, positioning, and product innovation. Prior, Torsten was VP Marketing at ActivIdentity (now part of HID Global), where he repositioned the company as the leader in the strong authentication and credential management space. He initially joined ActivIdentity to assist in building a new business unit from ground up. Before ActivIdentity, Torsten served nearly six years as Chief Marketing Officer for Digital Link. Before his tenure at Digital Link, he was Senior Director of Marketing for Everdream Corporation (acquired by Dell). Previously, Torsten held a variety of marketing leadership roles for high-tech companies. Torsten holds a Doctorate in Economics and a Master of Business Administration degree.