Understanding Risk Management Better With Lockpath

A company’s approach to risk management will often determine its long-term success. As your organization continues to grow, it will encounter a variety of threats that jeopardize progress. Through the application of today’s solutions, however, you can address problems and move forward with confidence.

Unfortunately, many of the security tools that are currently available have problems with their API, while others are insufficient in their performance. Furthermore, these tools tend to serve a specific purpose, forcing you to purchase several different programs if you want full protection.

Lockpath resolves this lingering issue with its integrated risk management software. The company’s solutions enable you to effectively cover multiple parts of your operation, including IT risk management, operational risk management, health and safety management, and several other key areas.

In short, Lockpath has fulfilled the need for an intuitive system for governance, risk management and compliance. It has created flexible and scalable software to meet the requirements of small and large companies, and its GRC experts have provided a high degree of security for organizations across various industries.

We had an opportunity to speak to one of those experts, Sam Abadir. As the vice president of industry solutions at Lockpath, Abadir has a wealth of knowledge on risk management. We discussed a diverse range of subject matter over the course of our conversation, looking at Lockpath’s history and future.

The Early Years of Lockpath

Co-founders Chris Goodwin and Chris Caldwell started the software company Lockpath in 2010. Its first product was called Keylight, which was initially a governance risk and compliance platform. Much of the market calls it an integrated risk management platform, or IRM, though some still argue its GRC status.

Ultimately, the official classification matters far less than its capabilities. Abadir says Keylight supports the nuances between GRC and IRM, allowing you to manage both simple tasks and more advanced risk management duties. Either way, the product affords a high level of flexibility.

Of course, Keylight would not have existed without the efforts of Goodwin, Caldwell and Tim Norman, the company’s chief architect. Norman has led the architecture and development of numerous data-driven solutions, and he has occupied a leadership role at the company since it began almost 10 years ago.

In the beginning, Goodwin and Caldwell believed small-business owners would account for most of their customers. Abadir clarified, “So our first customers are some of the largest banks and some of the largest aerospace and defense companies in the world. And that really propelled our customer growth.”

Expanding the Company

With the early success of Lockpath, Goodwin and Caldwell had to expand their team. They soon brought on Brian Dillbeck, who guided the company through this period of rapid financial growth until he rose to the position of chief financial officer. Lockpath would also go on to hire Dennis Keglovits as chief client officer.

Keglovits has multiple responsibilities at Lockpath, assisting clients with the implementation of their software, professional services, managed services and similar areas of customer support. Abadir mentioned this part of their business has seen greater attention, as many clients want help with managing risk, post-purchase.

As the company continued to grow, Chris Geisert joined as chief marketing officer, spreading awareness of the organization. Melanie Ekeland assumed the role of vice president of operations, while Tony Rock accepted a position as chief operating officer. Concerning Abadir’s function, he provided a brief explanation.

“I’ve been here for almost six years and, you know, I’ve had a number of roles in the company, it evolves, it still stays the same, both at the same time. But one of the things I do is work with analysts, work with press and folks like that, and actually help communicate what it is we do and how it is we do that.”

Filling a Niche in the Market

As mentioned earlier, most of the security tools available on the market today suffer from the same recurring issues. The performance or API of the software is poor, and business owners like you need multiple programs to manage your organization. Abadir elaborated on these problems from the viewpoint of a consumer.

“I have to go buy three tools and ideally I’d like that information all in one pane of glass for different reasons, and maybe even on different frequencies. Nobody was doing it.” According to Abadir, Lockpath was filling a niche that was relatively open in the area of risk management software solutions.

Instead of offering one solution for a single problem, Lockpath’s software is far more efficient. It has moved away from the conventional modes of risk management toward a holistic program. Information that would otherwise remain separate is easier to connect, allowing you to take action.

Abadir provided context for Lockpath’s solutions, speaking more on how it operates within a company. He said, “… so we’re taking all that disparate data, all those different performance metrics. We’re applying effective governance to that and then providing actionable reports and actual messages.”

Keylight and Blacklight Platforms

Concerning the products Lockpath currently offers, you can select from either Keylight or Blacklight. Keylight is an integrated risk management platform that recently was upgraded to improve workflow and usability. The software secures many areas of risk management.

Keylight covers audit management, vendor risk management, business continuity management and planning, IT risk management, compliance and policy management, operational risk management, and health and safety management. Multiple iterations of the software exist to meet different needs.

Beyond Keylight, Lockpath also provides Blacklight, a configuration assessment platform. The Blacklight software can protect IT assets from risks and threats, giving you real-time insights into your asset configuration status. Its continuous security monitoring reduces the risk of breaches and safeguards critical networks.

Keylight and Blacklight each have their appealing aspects, and companies have recognized the value in these solutions. With the continued innovation of Lockpath and the increasing necessity of cybersecurity, it’s safe to speculate that technologies for risk management will soon see more attention.

Preparing for the Coming Decade

The coming decade will bring a new set of challenges for business professionals. As you prepare for the obstacles ahead, give thought to your security measures and areas of improvement. Whether you see the appeal in Keylight, Blacklight or a similar solution for risk management, it’s clear these platforms will prove indispensable in the next several years.