Parapet IRM

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Parapet IRM
IndustryComputer Software
Founded2016; 6 years ago (2016)
FounderHiren D.
Headquarters
Wellington
,
New Zealand
ProductsIntegrated Risk Management
Websiteparapet.com

Parapet is a New Zealand based software company that offers a cloud management system for Integrated Risk Management System (IRM) that enables a set of practices and processes for performance improvement through integration of effective governance, technology based decisions and risk management.[1] The platform is best known for minimizing organization's unique set of risks and managing them through an effective governance through audit management, business continuity management, remediation management and assurance.[2]

Parapet IR platform has acclaimed its expertise for enterprise risk management, IT risk management and vendor management. It automates compliance monitoring and reporting of the company’s regulatory and industry compliance undertakings.

Parapet has also drawn the attention of organizations for its environmental health and safety programs. It closely works with organizations to stay in compliance with EHS regulations and has resulted in improving productivity by optimizing efficiency of their resources. The company has created its name that helps enterprises to adopt new technologies by providing multiple solutions making the work progress hindrance free.

History

Parapet IRM was founded in 2017 in Wellington, New Zealand. While working for technology companies, founder Hiren Desai found that there is an opportunity for creating an integrated risk management software that can replace expensive GRC software.[3] Desai has identified that GRC software implementation takes a lot of time and is really very expensive for the business. He built a team of developers that can help him in building a comprehensive IRM software.

After extensive market research, Parapet developers came up with a user-friendly, customisable software enabling a risk-aware culture. Under the leadership of founder Hiren Desai, Parapet IRM was launched in 2017. Soon after the launch the software received positive reviewers and garnered attention from the organizations.[4]

Product and services

Parapet offers following products and services

Enterprise Risk Management: Parapet identifies the process of planning, organizing, and controlling the activities of potential enterprises risks that can hamper the organization's credibility and revenue. It mitigates and minimizes cybercrime, system or server failure, disruptions, compliance and other related activities.

IT Risk Management: Parapet offers cybersecurity with a Risk-Based Framework that alerts both internal and external threats. Parapet identifies the unique system of each organisation, acting accordingly, responding to risk acceptance, risk mitigation, or risk transfer activities.

Vendor Management: Parapet’s Vendor management system implies consistent risk classification to review potential risks that can be posed by any third-party vendor. Parapet evaluates and assesses their security and compliance standards before engaging in the technical activities.

Audit Management: Audit management software by Parapet helps simplify and organize the workflow and overall process of preparing and conducting audits. It also facilitates the tracking and maintenance of audits.

Business Continuity Management: This feature prevents any Data losses caused by human error, poor user security habits or other factors.

Remediation Management: Remediation activities ensure the improved future management of known threats. Parapet centralises remediation management to track and monitor remediation activities for the enterprise or a selected project by the client.

Assurance Management: Parapet IRM implements assurance activities ranging from improved attention to internal policies, to assure that program is being delivered optimally. It ensures to maintain regulatory compliance and offers a customized implementation strategy.

Compliance Management: Parapet protects its clients from breaches, errors and threats with its compliance management system.

Environmental Health Safety: Parapet creates a healthy and safe workplace by automating corporate activities with EHS regulations enhancing the productivity and efficiency of an enterprise.

Services

Managed Services: Parapet provides the access to right technical and non-technical resources, which are economically feasible for overall risk management of an enterprise.

Implementation Services: Parapet’s experienced consultants provide the domain knowledge, technical expertise and project management capabilities ensuring successful implementation of Integrated Risk Management.

Maintenance and Support: The Parapet Customer Support Group tracks, manages and resolves any issues faced by business users, risk assessors, auditors or any other staff, guaranteeing the smooth working of the enterprise.

References

  1. "Global Integrated Risk Management (IRM) Software Market Size, Status and Forecast 2020-2026". Empirical Data Insights. Retrieved 2020-07-15.
  2. "Parapet Comparison with Similar Apps". GetApp. Retrieved 2020-07-15.
  3. "Best GRC Software in Australia - 2020 Reviews & Comparison". sourceforge.net. Retrieved 2020-07-15.
  4. "Parapet Reviews and Pricing - 2020". www.capterra.com. Retrieved 2020-07-15.

External links