Governance, Risk Management and Compliance (GRC) 101

With a solid GRC plan in place, one has established clear objectives, delivered by actions and controls that have been developed with well defined rules and regulations.


In the first part of 2020, a great many companies around the world received a harsh reminder of the need to have plans in place for risk management. The spread of a new coronavirus, commonly known as COVID-19, has seen a huge impact on businesses, from small restaurants to multinational corporations. These organizations rely on their Governance, Risk Management and Compliance, or GRC plans and procedures to ensure they survive the impact of incidents such as a pandemic.

GRC is not new. Responsible business owners have been planning for worst-case scenarios throughout time. In fact, we do it in our everyday lives. Having a backup plan for the unknown can give one a sense of comfort. But the acronym itself is young, having been coined in the early 2000’s after a series of high-profile corporate financial disasters. The Enron scandal of 2001, the Worldcom and Tyco scandals in 2002, all of which led to the Sarbanes-Oxley Act (SOX) of 2002. Although governance, risk management and compliance are not new concepts, organizations quickly realized that in today’s modern markets, there was a need to bring the three practices together into a coordinated effort. This brought about the introduction of open-source GRC standards.

Let’s look at the three main concepts of GRC. Governance covers sets of rules, policies, and processes that are in place to govern corporate behavior. Risk management is that “plan for the worst” set of procedures and actions designed to help mitigate those incidents which threaten the success or marketability of a company. Compliance is ensuring that all levels of a company, from employees to departments to the company as a single entity, adhere to all applicable rules, regulations, ethics and standards. Tightening the integration of these three concepts has led to the continuing development of GRC, and now we see a proliferation of tools and software that can help make this happen. Platforms like RSA Archer and ServiceNow give organizations the power to synchronize people, information and activity across departments. It’s all about ensuring the right people get the right information at the right time so that actions can be taken quickly and efficiently to prevent damage or even disaster.

With a solid GRC plan in place, one has established clear objectives, delivered by actions and controls that have been developed with well defined rules and regulations. Three areas of overall risk management which, with the right tools and guidance, work in concert to help companies compete and thrive in a world impacted by today’s digital transformation. While GRC is not a single tool, its concept is to see that the plans, procedures and processes across all departments are working together in the most effective way.

The successful application of Governance, Risk Management and Compliance means that a company can reduce costs, eliminate duplicate activities, and see an increase in the quality of information and the efficiency of workflows. NewRocket can help you achieve these results. We have the expertise and experience to set you on the right path or to strengthen the processes you already have in place. Talk to us about how we can work together to help you build a quality GRC plan.

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Governance, Risk Management and Compliance (GRC) 101

With a solid GRC plan in place, one has established clear objectives, delivered by actions and controls that have been developed with well defined rules and regulations.

Knowledge Wrap Video

The event provided a vibrant platform for reconnecting with peers, delving into AI transformation, and driving innovation with purpose. Read on to discover how NewRocket made its mark at Knowledge 2024.

What We Learned

From recent insights gathered, we learned that ServiceNow customers are increasingly receptive to adopting AI solutions and ServiceNow has the tools to embrace that head on. However, there's a gap in AI use-cases for more mature users, highlighting the need for a creative approach to accommodate their business needs.

In navigating AI adoption, organizations are challenged to find the delicate balance between embracing innovation and avoiding dependency on emerging technologies. Advisory consulting and trusted guidance beyond initial queries spark interest, particularly around AI's impact on operations. Read our AI blog series to learn more about our approach.

Excitement around GenAI is apparent, with most users eager to explore its potential benefits and invest in quick wins. Notably, advanced use cases like process mining are gaining traction. Key solution themes include interest in native mobile applications, Employee Center migration, and the urgent need for enhanced data capabilities.

Recognitions and Awards

ServiceNow Americas Employee Workflow Partner of the Year

The ServiceNow Americas Employee Workflow Partner of the Year award celebrates Partners' exceptional efforts in enhancing employee experiences through innovative collaborations and technology solutions. Learn More.

UK Public Sector Partner of the Year Award

The ServiceNow UK Public Sector Partner of the Year underscores  Partners' dedication to driving digital transformation and delivering exceptional outcomes for public sector organizations in the UK. Partnership for Good Grant

The Partnership for Good Grant highlights Partners' commitment to leveraging technology for social impact and driving positive change in communities around the world. Learn More.

Top 10 Finalist for ServiceNow Best Employee Portal of the Year

ServiceNow's Best Employee Portal of the Year award recognizing Partners' dedication to creating innovative solutions that empower employees and enhance workplace experiences. Learn More.

NewRocket Booth

At ServiceNow's Knowledge 24 event, we connected with 350+ attendees at our booth, showcasing how NewRocket supports organizations on their ServiceNow journey. AI emerged as a key topic, reflecting the growing interest in its potential across businesses. Our strategic advisory approach, FlightPath, aligns technology with business objectives, drawing on our expertise in customer, employee, technology, and security transformation. Plus, we captivated attendees by transforming them into astronauts using AI. See the photo booth results here!

Workshops and Speaking Sessions

Beyond Personas: Developing Holistic Frameworks to Personalize User Solutions

Industry innovation: Consilio’s Transformation Journey on ServiceNow

Dive Into Prototyping to Accelerate Validation With Design Libraries

Make Better Business Decisions by Integrating Risk and Compliance

Participating in ServiceNow's Knowledge sessions and workshops this year was truly enriching. Interacting with customers and partners provided invaluable insights into the future state of ServiceNow and allowed us to have in-depth discussions on how we can collectively offer better experiences across various facets of the platform. From exploring advanced AI integrations to optimizing workflow processes, the conversations were not only enlightening but also inspiring, fueling our commitment to innovation and excellence in the ServiceNow ecosystem. We can't wait to see you next year!

NewRocket Party

Our poolside event at the Capri restaurant in Las Vegas provided a refreshing break from the conference hustle, allowing us to unwind and connect with friends, colleagues, partners, and customers in the cool open air. As the night progressed, we loved creating unforgettable memories and strengthening our bonds within the ServiceNow community.