The value that a strong, well planned, executed and maintained Governance, Risk and Compliance (GRC) program can provide a business is limitless—but how do you get there? Consider these steps when creating your business’ GRC solution plan.
A solid GRC program has to be maintained. It’s not enough to just implement it and forget about it. As your business’ objectives morph and change, so too, should your GRC solution. Keeping your GRC program aligned with your current business objectives and strategies will help to ensure optimal performance.
The importance of communication is often overlooked, but its value to a GRC program is far-reaching. In order for senior management to manage their divisions, and for plans to be followed properly, they have to be aware of what exactly they’re managing. Communicating to leadership in a language they understand – think outcomes-based rather than technical, is essential. Properly curated GRC implementation strategies and plans help keep everyone on track, so they can perform optimally for the success of the program.
Automation itself comes with a laundry-list of benefits and using GRC technology to automate processes and controls for your GRC solution can reap many of the same benefits. Analysis, reporting and exposure management are just a few of the benefits that automation can provide—all while saving time and money.
Many organizations hesitate to implement a GRC solution, and only do so after something unfortunate happens. A solid GRC solution will grow with your business over time, and therefore, become increasingly valuable. If you don’t have a plan or framework in place yet, but you’ve thought about it, don’t wait! And if you do, keep up with its growth and development.
Find the right technology
Increase productivity, gain real-time visibility and improve resilience with a GRC solution, such as ServiceNow Governance Risk and Compliance (GRC). Implementing a GRC solution helps to reduce errors and costs, so you can focus on higher-value tasks. A GRC solution can also facilitate continuous monitoring to minimize business disruption and empower risk-based decisions across your organization.
Ultimately, driving the most value out of your GRC solution takes work. These considerations will help you achieve that increasing value effectively and efficiently. Maintain, communicate, automate and be proactive! If you are looking to generate more value from your GRC program, speak with the experts at today!