Corporate Compliance and Oversight (CCO) tools provide the framework and support for standardization of compliance activities and automation to increase efficiency and effectiveness of compliance management programs. CCO enables a common cross-enterprise approach to IT compliance activities that most affect the regulatory oversight of corporate governance. This is done through support of the five major requirements for managing a compliance program: policy development, aggregation and normalization, control monitoring, workflow management, and case management.
The IT risk management (ITRM) market focuses on solutions that support the ITRM discipline through automating common workflows and requirements. For the purposes of defining this market, IT risks are risks within the scope and responsibility of the IT department. These include IT dependencies that create uncertainty in daily tactical business activities, and IT risk events resulting from inadequate or failed internal IT processes, people or systems, or from external events.