BWise is an Governance, Risk Management, and Compliance (GRC) platform formerly owned and supported by Nasdaq, acquired by SAI Global in April 2019.
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OneTrust Privacy and Data Governance Cloud
Score 8.7 out of 10
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The OneTrust Privacy and Data Governance Cloud provides privacy and data governance automation to help organizations better understand their data across the business, meet regulatory requirements, and operationalize risk mitigation to provide transparency and choice to individuals.
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.
I strongly recommend it for general management of personal data privacy programs and risk and contract management, it complies with all major world legislation in addition to being easy and fast. Not recommended for data discovery still requires refinement.
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.
We have used a shared hosted tenant managed by OneTrust for over three years with only one instance of a lengthy (4+ hours) unexpected outage which happened years ago.
We selected a European hosting location based on our initial use case, however, our usage of the OneTrust platform has expanded globally to where the majority of users sit in the Americas or Asia-Pacific regions. There is a noticeable lag when navigating the platform for users located far away from the hosting location.
As a user, you can mitigate any sluggish response time by the aggressive use of multiple browser tabs. I commonly have one tab open on an Inventory detail screen, another tab on an Assessment window, and maybe another tab on a customized inventory list screen. If one tab is slow I hop to another tab and work on that tab while the first tab responds.
Both our customer rights access and cookie consent advisors were responsive and helpful in getting us trained on using the platform and the various assets implemented on our website. We had multiple training sessions that were more than enough in getting all of the users on our team familiar with what we needed to do.
An implementation specialist worked with us remotely during our initial deployment. Due to the diverse geographic locations of my organization's participants, the implementation and training had to be done remotely (this was before COVID-driven remote work).
The implementation specialist was knowledgeable and helpful but to really get full benefit from the platform I encourage organizations to dedicate a specialist within your company to really study and learn the platform.
Wasn't personally involved in the vendor selection process. I am aware that one of the main drivers for selecting BWise was cost (I believe BWise total project cost was several times lower than MetricStream's).
First, when we compare OneTrust Privacy and Data Governance Cloud to the software I mentioned above, OneTrust Privacy and Data Governance Cloud software was way more affordable than the other 2. Also, along with the other 2 software, OnTrust was one of the most user friendly tool/software we've ever used.
The platform has exceptional capabilities to customize the user interface, reports, and recorded information. In most cases, the customization can be compartmentalized so that if the customization performed for Department A is determined to not impact Department B, the customization can be hidden from Department B.
We have four different departments using the IT Risk Management module. Three departments share their work in what we call the 'shared data risk management zone'. Another department is using IT Risk Management for a bespoke portfolio risk management task, and the customization for this department is largely hidden from the other departments.
