Let’s start with the basics – what is GRC system? Governance, Risk, Compliance, also called Integrated Risk Management. Why do you need it?
Have you been in meetings where colleagues are disagreeing and disputing the data because maybe Internal Audit doesn’t agree with Risk Management?
Have you been asked to create a report quickly, and now you’ll need to stay up close to all night for a few weeks to gather, sanitise data and manually create charts and the report?
Have you been waiting weeks or months for end users to finish their risk assessments, update their internal audit findings, and oh, by the way, they forgot to do it?
A modern GRC will help you:
- Boost productivity by eliminating non-value add steps, and free up time to do more important work
- Gain visibility of unified data, risks, controls, and across the GRC landscape.
- Automate and digitise your processes and get rid of spreadsheets and emails.
GRC Practitioners use overlapping common data, hence the inevitable duplication if you are operating manually or on a system that doesn’t allow you to share common assets like risk registers. Imagine how much faster you could do your work if you had access to the same set of risks the organisation is working on. How many hours would you gain if you didn’t have to manually gather data and eliminate duplicates to produce your annual report? A GRC platform will enable your organisation to have visibility across risk data and work seamlessly across the organisation to enhance the risk posture.