One Year of TRAC
The SBS/Infotex Partnership Turns One!
The year in review!
So frightened were we about the reputational risk of an audit firm endorsing, much less reselling, a technology, that when we first reached out to seven ERM providers in October of 2012, we made it clear that we just wanted to learn about their application on behalf of our Clients. But by the time we had whittled the field to the two finalists, both had talked us into giving a re-seller agreement a try, and the main reason we felt we could do it was because as an audit firm we do need to fully understand risk assessing.
And so we gave it a try with Secure Banking Solutions, and announced our partnership on 11/06/13. (The announcement is here: trac.infotex.com).
In the past year we have learned:
- TRAC is indeed following through on their pledge to modify software and make fixes as we find them.
- The helpdesk at TRAC is amazing.
- You might not really need as much help from infotex as we had thought . . . . once we get you pointed in the right direction, the rest is pretty intuitive.
- The board reports need to be summarized, but what a great paper trail for auditors and examiners!
- TRAC can be used for non-financial institutions and there is a
- Healthcare version of TRAC.
Of course we learned a lot more as well, but the NUMBER ONE LESSON WAS:
- We’re glad we entered the partnership!
Original article by Dan Hadaway CRISC CISA CISM. Founder and Managing Partner, infotex
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