Ashburn, Va. – September 15, 2022 – Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, is pleased to announce a collaboration with IBM Security as part of IBM’s Active Governance Services (AGS) that allows enterprises to operationalize and automate activities and solve challenges in cybersecurity compliance and regulatory risks.
“The number of global, national and local compliance requirements are increasing, which means enterprises now have massive amounts of security controls to implement, test and report on,” said John B. Wood, Telos CEO and chairman. “Telos and IBM Security are excited to address this issue together by leveraging our combined and extensive expertise in IT risk management and compliance to create efficiency out of chaos and offer effective solutions to the audit fatigue issue.”
AGS helps organizations overcome the challenges and costs associated with regulatory compliance, especially audit fatigue. According to a 2020 study, organizations, on average, must comply with 13 different IT security compliance and privacy regulations, which requires a team of 22 dedicated staff members and results in 58 working days per quarter spent responding to audit evidence requests. Beyond audit fatigue, the study also found that 86% of respondents believed compliance is or will be an issue when moving systems, applications, and infrastructures to the cloud.
The AGS solution, available via IBM Security Services, addresses these challenges by combining IBM’s world-class expertise to plan, design, deploy, operationalize, and accelerate cyber compliance and governance programs, and Telos’ Xacta® IT Risk Management platform that automates the most time-consuming aspects of compliance and audit activities like control selection, validation, reporting, and monitoring.
“Every organization must meet compliance, regulatory, contractual, and privacy obligations – no one is exempt. However, individual organizations have different risk appetites, tolerance levels, missions, and goals,” said Dimple Ahluwalia, VP & global managing partner, IBM. “AGS helps take the guesswork out of managing cybersecurity risk and compliance – all with proven technology, techniques, complete visibility, and ongoing expert support. We are thrilled to be working with Telos on this important challenge that faces today’s enterprises.”
The AGS solution, available via IBM Security Services, utilizes strategic planning, responsive compliance reporting, proactive monitoring and automation, all while leveraging existing tools to create a more ordered approach to IT risk management and compliance. The solution is scalable across hybrid, multi-cloud, and on-premises architectures and systems, bringing much-needed peace of mind to those on the front lines of the cybersecurity battle. The power of automation is on full display with AGS, reducing system compliance time up to 90% faster, the time to generate regulatory documentation by up to 70%, as well as the time to research vulnerabilities by up to 90%.
To learn more about AGS, please visit https://www.telos.com/offerings/ibm-active-governance-services-xacta.
This press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in the Company’s filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2021, as well as future filings and reports by the Company, copies of which are available at https://investors.telos.com and on the SEC’s website at www.sec.gov.
Although the Company bases these forward-looking statements on assumptions that the Company’s management believes are reasonable when made, they caution the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.