COBIT is an information governance model that guarantees integrity of the information system. It is internationally used by the leading information based organizations and serves as a consulting guideline that can be applied to any organization irrespective of the industry it belongs to. COBIT is a model ensuring quality, control and reliability of information systems in organizations which is actually quiet essential for keeping ahead of rapidly changing regulations in modern business regimes.
COBIT 5 is based on following five principles:
- Meeting the needs of stakeholders
- Ensuring a holistic approach
- Covering the enterprise end to end
- Applying single integrated framework
- Separating governance from the management
- Evaluate, director and monitor (EDM)
- Align, plan and organize (APO)
- Build, acquire and implement (BAI)
- Deliver, service and support (DSS)
- Monitor, evaluate and assess. (MEA)
- Meeting regulatory requirement
- Optiming IT related risks
- Optimizing IT resource utilization
- Ensuring higher value from the investments in IT.
It is very critical to divide the improvement project into small phases as this helps the organization reap the benefits for long period of time.
Organizations that choose to utilize COBIT 5 can expect three key benefits: The first includes a direct impact on business performance, both operational and strategic. The second is minimization of risk, as Best practices and reliable processes help mitigate risks of investment, expenses, breached security, loss of service, inadequate infrastructure and unreliable data integrity. Lastly a regulatory environment is the biggest perk of implementing this framework. With the role of regulations increasing with growing influence of technology, COBIT 5 is just the right pick for your organization. Hence if you wish to keep ahead of rapidly changing regulations, Business Beam is right here for all the organizations interested in adapting and tailoring the guidance of COBIT 5 to their specific needs!