Strong governance, risk and compliance (GRC) strategies provide a myriad of benefits to your organization, but where do we start? Consider a few common GRC strategy pain points and learn exactly what your organization needs so that you can implement the best possible solution with minimal headache.
Implementing a strong GRC solution is no easy task—like gears in a watch, there are a lot of moving parts that must work together to ensure a seamless action. And like the watch battery that makes everything work as it should, strong leadership, project management and communication are of utmost importance for an effective GRC solution.
GRC solutions need to have a strong sense of direction in order to work as expected.
“A vision should be clear about what the GRC solution will do, for whom it will do it, and most importantly, why you are doing it.”
Scope & Underestimating
Coupled with leadership, it’s important that everyone involved with a GRC solution implementation is on the same page, and that the estimates for the roll-out activities are realistic. Scrutiny on part of the project managers during the planning and execution of a GRC solution is imperative.
“Not all program sponsors are forgiving enough to approve change requests due to inaccurate or ineffective estimation of activities.”
Getting started with GRC: Helping organizations plan for a successful GRC program, page 40.
Planning actions using the most accurate and up-to-date information available will help you avoid any underestimations and ensure that your scope for the solution is as accurate as possible.
Misunderstanding of business impact
Misunderstanding or simply being unaware of the GRC solution’s value to your business makes it difficult for board members to provide support.
“By attributing each delivery item to some part of a business function, goal, or expectation, each item can be assigned some level of value.”
Getting started with GRC: Helping organizations plan for a successful GRC program, page 41.
Providing context to each moving part will assign it a value, which will allow you to communicate the GRC solution more effectively internally.
Manual processes for collecting and analyzing data are outdated. They lack almost all the benefits that automated processes provide for a business—they take more time, cost more money, use more resources and are more prone to errors.
Strong GRC solutions, such as ServiceNow GRC, can provide huge benefits from intelligent, automated processes that do all the compiling, analyzing and reporting for you.
Fluid connections between people and systems is a key part to breaking down silos—but how do you form those connections? Like most solutions of the modern day, you automate them. Use a risk management tool to handle processes and eliminate the need for manual input to reduce departmental and informational silos. At NewRocket, we are proud to have more than 25 certified GRC experts on our team to work directly with clients to deliver trusted risk and security intelligence. Reach out to find out how we can help mature your organization’s GRC program today.