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In a press announcement this morning, Edgile announced that it has augmented its industry-leading regulatory content platform — known as iGRC — to include new state and international law sources. Coming at the end of a busy year on the regulation and compliance front, the announcement also sums up what transpired in 2017 and what businesses can expect in the upcoming year.
- Edgile’s end-of-year regulatory update reports a decrease in federal regulation in some areas, but a sharp increase in state regulation. In 2017, much has been written about the potential impact of federal regulation. Edgile has tracked an increase in state regulation, which very likely will impact the ability of businesses to keep up with the shifting regulatory landscape. In 2017 approximately 42 states introduced more than 240 cybersecurity bills or resolutions — more than double the number in 2016.
- High-profile breaches in 2017 helped to raise awareness of regulation and compliance risk while GDPR will drive the conversation about regulation and compliance; but the conversation is bigger. There’s little doubt that GDPR will make regulation and compliance top of mind, but the landscape includes many other regulatory regimes that enterprises will need to manage.
- More enterprises are becoming aware of the need for technology-driven solutions to keep up with the regulatory and compliance challenges. As Edgile partner David Deckter noted in today’s announcement, “More and more, businesses will need to rely on services that leverage great expertise as well as technology to manage the new regulatory landscape.” Edgile’s iGRC platform supports enterprises in meeting these challenges by providing them with the most advanced collection of harmonized laws and regulations provided as a tailored industry-specific subscription service to North American enterprises.
In light of all this, what can an enterprise do? For more information about iGRC, please contact us.