LogicGate Risk Cloud: Product Overview and Insight

eWEEK PRODUCT OVERVIEW & INSIGHT: LogicGate enables users to shift GRC strategies from reactive to proactive, enabling them to build risk management programs tailored to their business needs.

PO_Logicgate

Today: LogicGate Risk Cloud (suite of risk management solutions)

Company description: LogicGate is a provider of cloud-based governance, risk and compliance (GRC) solutions for automating enterprise risk management processes. LogicGate enables users to shift GRC strategies from reactive to proactive, allowing them to build risk management programs tailored to their business needs. Its proprietary Risk Cloud platform, an end-to-end suite of risk management solutions, blends the right mix of flexibility and out-of-the-box functionality for organizations to manage their risk with confidence. Companies such as SoFi, CAPCO and Blue Cross Blue Shield of Kansas City rely on LogicGate to accurately predict the path of risk and, when needed, rapidly pivot GRC systems and processes without the support of consultants or corporate IT. The Chicago-based company has been named a leading GRC software platform on the G2 GRC Grid for five consecutive quarters and was awarded Best Security Innovation in a SaaS Product by the SaaS Awards.

Markets: Software/Fintech/Telecom, Healthcare/Pharmaceuticals/Medical Devices, Banking/Insurance/Investment Services, Oil & Gas/Utilities/Alternative Energy

International operations: United States of America, United Kingdom

Products and Services

Risk Cloud: LogicGate’s Risk Cloud platform is a flexible, easy-to-use suite of risk management solutions that empower organizations to transform disorganized risk and compliance operations into agile process applications.

The Risk Cloud’s end-to-end suite of risk management solutions blends a mix of flexibility and out-of-the-box functionality for organizations to manage their risk with confidence within an easy-to-use, drag-and-drop interface in a no-code environment. Businesses can map their unique risk and compliance frameworks with a library of prebuilt (but configurable) process applications including IT Risk Management, Compliance Management, Enterprise Risk Management, Third-Party Risk Management and more. 

Legacy GRC solutions are historically inflexible, taking significant financial investment, expertise and time to implement. This is not the case with LogicGate. The flexible platform allows employees with zero knowledge of coding to configure business processes and create repeatable workflows for risk and compliance.

The Risk Cloud’s centralized repository for critical documents and dashboards enables organizations to easily keep track of all compliance operations in one place. This comprehensive store of important compliance artifacts ensures a complete record for auditing and a single source of truth for all risk framework data. LogicGate offers reporting, documentation and signoff features for complete records of all processes—handy in the event of an external audit.

Key features:

  • Drag-and-drop, no code interface
  • Library of configurable process apps built specifically for governance, risk and compliance controls
  • Custom logic and task routing
  • Automated deadline rules, email triggers, notifications and other manual tasks
  • Report designer
  • Customizable roles/groups
  • RESTful API 
  • Other features include: work with external users, collaboration and e-signatures

LogicGate Integration Suite: The suite is a collection of integrations with tools that feed valuable risk data into LogicGate applications or bolster workflow by improving efficiency— enabling LogicGate customers to use the platform as the central hub for their organization’s risk management program.

Services:

LogicGate Power User Certification Program — The program provides a means for users to increase their proficiency in LogicGate’s Risk Cloud applications and workflows, and is the first of many educational offerings that will be made available to LogicGate customers via LogicGate Learning.

List of current customers: SoFi, CAPCO, Hyatt, Nucleus, Paxos and Blue Cross Blue Shield of Kansas City

Pricing: 

LogicGate offers a flexible and market-competitive pricing model. It has packages for small, medium and large customer segments that provide a set number of users, applications, implementation and support services, and any additional integration capabilities based on the customer’s business needs and environment. In addition, customers can purchase add-ons to their package to accommodate more services, users, user types, applications and integration capabilities.

Delivery: Software as a service

Insight and analysis

From G2 Reviews: LogicGate was named a top-rated GRC software on the G2 Spring 2019 Grid Report.

"LogicGate excels in the following areas:

  • Quality of Support: 99 percent satisfaction (versus 91% category average)
  • Ease of Doing Business With: 98 percent satisfaction (91% category average)
  • 100 percent of users gave LogicGate a 4- or 5-star rating
  • 100 percent of users believe LogicGate is headed in the right direction
  • 91 percent of users would be likely to recommend LogicGate
  • Net Promoter Score: 83 (highest among GRC Platforms with 12 or more reviews)"

From a professional LogicGate user on G2: 

What do you like best? "LogicGate is an integrated GRC Solution that enables you to run Risk, Audit, Compliance and Vendor Management programs within one platform. Some of the features that stand out:

  • Platform versatility and ease of configuration (after initial admin training, we can internally stand up our own modules and migrate business processes into LogicGate as we see fit)
  • Platform flexibility (our processes dictate the configuration, not the other way around)
  • Controls repository (external and internal) with the crosswalks & mappings
  • Modern and user-friendly GUI
  • Okta SCIM integration (seamless integration with AD plus accounts auto-provisioning and de-provisioning)
  • Ability to create very granular user permissions sets
  • Ongoing support from LogicGate team”

What do you dislike? "LogicGate has some limitations when it comes to creating visual reports:

"From an operational standpoint, LogicGate reporting capabilities are sufficient. From the strategic standpoint (data aggregation and trends), data would need to be exported to a BI tool. However, with RESTful API and Zapier in place, it is pretty easy to accomplish those goals.”

Recommendations to others considering the product:

  • “Before implementation, revisit and align on your current processes internally.
  • During the implementation, focus on how the process should be ideally run instead of how it used to be run.
  • Be aware and prepared that some of the existing processes will become obsolete and redundant with the automation and workflow management that LogicGate brings to the table.”

What problems are you solving with the product? What benefits have you realized?

  • “Central hub for our GRC program that allows us to capture all relevant data points in one database and correlate as needed
  • Ability to leverage controls crosswalk to do additional assessments only on the delta between different frameworks
  • Automation (notifications based on due dates and internal process triggers) and data normalization (one governed process instead of spreadsheets)”

For more information visit https://www.logicgate.com/request-a-demo/.

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