BWise GRC Implementation Review

Rating: 9 out of 10

February 11, 2016

Use Cases and Deployment Scope

BWise is used as a GRC platform to manage multiple compliance initiatives for SOX, IT compliance, PCI compliance, Procurement compliance, Internal Audit, and Management Self-testing.

BWise is integrated with TeamMate audit tracking, for internal audit testing and annual compliance testing.

BWise is used for testing across the enterprise, giving management a view into the control effectiveness, across the company, and across compliance initiatives.

Pros

Bwise is very customizable to accommodate multiple compliance initiatives, across the enterprise.
Integration with TeamMate, made tracking audit testing and results easy to stay on top of.
Being able to map controls, and test once, and report control effectiveness for multiple initiatives was important.

Cons

Integration with SAP for continuous control monitoring.
Control mapping to standards: ISO; COSO; COBIT; HIPAA; SP800_53 (NIST); FedRAMP; PCI_DSS; BITS; GAAP; AICPA; BSI; CCM; COPPA; CSA
Surveys.

Likelihood to Recommend

Well suited for general compliance, multiple initiatives, and integration with TeamMate.

SAP GRC Process control may be better suited for an SAP environment.

Oracle GRC may be better suited for an Oracle environment.

Overall, BWise is a very cost effective, and flexible solution.

Verified User

Team Lead in Finance and Accounting (10,001+ employees)

Vetted Review

3 years of experience

BWise - The peaks and valleys of our GRC journey

Rating: 6 out of 10

Incentivized

November 20, 2015

Use Cases and Deployment Scope

The BWise application is the tool we're using to support and implement our governance, risk, and compliance project. It is an ERM (Enterprise Risk Management) corporate-wide initiative sponsored by our executive officers. It encompasses our financial, compliance, audit and risk divisions. This project objective is to increase integration among the aforementioned divisions, minimize silos, and improve efficiency and reporting to senior management.

Pros

Great reporting tool (uses SAP Business Objects). It is quite flexible on types of reports that can be created and supported. Also the reporting consultants are very competent and nice.
Highly customizable solution: almost everything can be tailored to an organization's needs, assessments, audits, issues, recommendations, tasks, etc. However, there's a trade-off between customization and the integration of different areas of the organization.
Increases visibility and efficiency in the organization. BWise offers centralized repositories (catalogs) that can be easily accessed and used by everyone in the organization (e.g. Process catalog, Policies and Procedures catalog, Risks, Controls, Laws catalogs, etc.). Also, the application allows findings on controls tested by Audit to be automatically reflected in controls monitored by SOX for example, without the need for SOX to retest them. So one area can leverage on the work of other areas increasing operational efficiency.
Increases integration and avoids silos. By choosing the correct design (e.g. Risk Workshops instead of Open Assessments), one area can see and benefit from another areas' work. An example was mentioned above; another would be Operational Risk area considering the results of Business Continuity, Vendor Management, Info Security, etc. assessments when carrying out theirs. Additionally, processes can be integrated: when contracting a new vendor for instance, one can include questions about data confidentiality and usage of models in the Vendor risk assessment. Answers to these could then trigger Info Sec / Model Risk assessments.
Increases accountability. Application provides full audit/change log with the type of change, name of executor, and date of change.
Easier follow-up. BWise sends automatic emails with reminders to the people required to take action on an issue, assessment, etc.

Cons

Internal Quality Check. I think this is the most prominent area BWise should improve on. Currently they lack internal Quality Check/Review.
Internal dialogue among employees. When various consultants are involved in the same project, their communication and updating each-other could be a bit stronger.
Inclusion of content. The application could benefit considerably from including some out-of-the-box content (e.g. COSO principles, Risk catalogs, etc.).
Risk Workshop functionality. This is one of the main functionalities that allows integration among different areas of an organization. However, it comes pretty much "take it or leave it"; it's almost not customizable.
Consultants' transparency. When an organization requests a particular design of the application or solicits changes to such design, it would be great if BWise consultants could always and more thoroughly advise on the implications of these changes, design to the organization's strategic objectives and ultimate target.
Product features. Application has room for improving its programming, e.g. providing internal checks when creating/answering an issue/finding (for instance, remedy implementation date cannot be before the recommendation response date or the recommendation creation date). Another example would be the possibility of automatic periodic followup (e.g. every 1 month until completion).

Likelihood to Recommend

- What does our organization aim to achieve with the application?

- Who will be using the tool?

- How mature is our organization in the areas/processes that will fall in scope?

- Are our areas averse to change?

- How flexible and prone are our areas to modify their way of doing business and processes/procedures to accommodate BWise?

- After implementation, who and how will perform application maintenance and change management (e.g. how easy will it be to update user privileges, central catalogs, assessment configurations, etc).

Verified User

Analyst (5001-10,000 employees)

Vetted Review

2 years of experience

BWise - The peaks and valleys of our GRC journey

Rating: 6 out of 10

Incentivized

November 20, 2015

Use Cases and Deployment Scope

Pros

Great reporting tool (uses SAP Business Objects). It is quite flexible on types of reports that can be created and supported. Also the reporting consultants are very competent and nice.
Highly customizable solution: almost everything can be tailored to an organization's needs, assessments, audits, issues, recommendations, tasks, etc. However, there's a trade-off between customization and the integration of different areas of the organization.
Increases visibility and efficiency in the organization. BWise offers centralized repositories (catalogs) that can be easily accessed and used by everyone in the organization (e.g. Process catalog, Policies and Procedures catalog, Risks, Controls, Laws catalogs, etc.). Also, the application allows findings on controls tested by Audit to be automatically reflected in controls monitored by SOX for example, without the need for SOX to retest them. So one area can leverage on the work of other areas increasing operational efficiency.
Increases integration and avoids silos. By choosing the correct design (e.g. Risk Workshops instead of Open Assessments), one area can see and benefit from another areas' work. An example was mentioned above; another would be Operational Risk area considering the results of Business Continuity, Vendor Management, Info Security, etc. assessments when carrying out theirs. Additionally, processes can be integrated: when contracting a new vendor for instance, one can include questions about data confidentiality and usage of models in the Vendor risk assessment. Answers to these could then trigger Info Sec / Model Risk assessments.
Increases accountability. Application provides full audit/change log with the type of change, name of executor, and date of change.
Easier follow-up. BWise sends automatic emails with reminders to the people required to take action on an issue, assessment, etc.

Cons

Internal Quality Check. I think this is the most prominent area BWise should improve on. Currently they lack internal Quality Check/Review.
Internal dialogue among employees. When various consultants are involved in the same project, their communication and updating each-other could be a bit stronger.
Inclusion of content. The application could benefit considerably from including some out-of-the-box content (e.g. COSO principles, Risk catalogs, etc.).
Risk Workshop functionality. This is one of the main functionalities that allows integration among different areas of an organization. However, it comes pretty much "take it or leave it"; it's almost not customizable.
Consultants' transparency. When an organization requests a particular design of the application or solicits changes to such design, it would be great if BWise consultants could always and more thoroughly advise on the implications of these changes, design to the organization's strategic objectives and ultimate target.
Product features. Application has room for improving its programming, e.g. providing internal checks when creating/answering an issue/finding (for instance, remedy implementation date cannot be before the recommendation response date or the recommendation creation date). Another example would be the possibility of automatic periodic followup (e.g. every 1 month until completion).

Likelihood to Recommend

- What does our organization aim to achieve with the application?

- Who will be using the tool?

- How mature is our organization in the areas/processes that will fall in scope?

- Are our areas averse to change?

- How flexible and prone are our areas to modify their way of doing business and processes/procedures to accommodate BWise?

- After implementation, who and how will perform application maintenance and change management (e.g. how easy will it be to update user privileges, central catalogs, assessment configurations, etc).

Verified User

Analyst (5001-10,000 employees)

Vetted Review

2 years of experience

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