These words of Edison rightly describe how a group of governance, risk management, and compliance (GRC) experts laid the cornerstone of LockPath, recognizing the need for intuitive GRC software that was flexible and scalable to serve the ever-changing requirements. As the energy industry is struggling to maintain pace with the frequently changing regulations, and rising incidents of cyber attacks, risk management and compliance has become the need of the hour. LockPath, headquartered in Overland Park, KS, helps organizations bring order to the chaos by managing their risk, audit and compliance programs through the robust Keylight platform. “We provide our customers with the tools to assess risks up front and identify trends across their organization,” says Chris Caldwell, Co- Founder and CEO, LockPath.
Gone are the days when energy organizations used a silo-based approach to compliance, risk management and IT security, with each group or department focused on specific risks or guidelines. An enterprise-wide GRC platform enables organizations to address IT risk management, operational risk management, IT vendor risk management, audit management, business continuity management planning, and corporate compliance, and oversee all of it in one user-friendly platform. “Our platform is designed to make compliance a proactive endeavor by offering a holistic solution,” says Caldwell.
LockPath’s platform offers unparalleled capabilities by systematizing processes to import, store, organize, and manage records across processes in a single accessible location. “We also help them create efficiencies within their risk management and compliance program, find ways to streamline processes and interconnect their risk and compliance data to calculate the full impact of a risk or a non-compliance activity,” notes Caldwell.
We provide customers with the tools to assess risks up front and identify trends across their organization
Diving deeper, the Keylight platform enables users to document and report the suspicious activities, and cross-refer the information to specific risks and controls brought in from a variety of regulatory frameworks. Being centrally managed, LockPath’s platform has a single sign-on system with configurable permissions that allow multiple users to manage different aspects of the system. Furthermore, the platform analyzes IT security incidents and handles appropriate workflows to remediate the risks associated with an incident. With audit manager and compliance manager applications of Keylight, the platform creates audit and remediation tasks, by project or individual finding.
Adding more credence, Keylight 4.4, the newest version of the platform has sophisticated and innovative data integration and reporting capabilities. Keylight Ambassador from Keylight 4.4 is one of the first hybrid features to gather data from multiple applications on cloud and on-premise networks. The Keylight Ambassador gives customers an accurate understanding into their organization’s risk posture. All of these features are formed by studying how customers use the platform. This enables customers to quickly transform millions of data or records in just few clicks.
In this pivotal juncture, LockPath continues to enhance the ability to move with the ebb and flow of future in the energy space by adding more features into their platform for quality and reliability. However, it will not be the software or implemented technologies by which LockPath will compute its success, but by the number of customers achieving their goals productively.