GRC

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗚𝗥𝗖?

GRC combines Governance, Risk management, and Compliance in one coordinated structured model to align IS with business goals while managing risks and meeting all industry and government regulations.

Most businesses are familiar with these terms but have practiced them separately in the past. GRC helps your company reduce wastage, increase efficiency, reduce noncompliance risk, and share information more effectively.

🧙𝙂𝙤𝙫𝙚𝙧𝙣𝙖𝙣𝙘𝙚

Governance is the set of policies, rules, or frameworks that a company uses to achieve its business goals. It defines the responsibilities of key stakeholders, such as the board of directors and senior management.

🧛𝙍𝙞𝙨𝙠 𝙢𝙖𝙣𝙖𝙜𝙚𝙢𝙚𝙣𝙩

Businesses face different types of risks, including financial, legal, strategic, and security risks. Proper risk management helps businesses identify these risks and find ways to remediate any that are found.

👮𝘾𝙤𝙢𝙥𝙡𝙞𝙖𝙣𝙘𝙚

Compliance is the act of following rules, laws, and regulations. In GRC, compliance involves implementing procedures to ensure that business activities comply with the respective regulations.

𝗪𝗵𝘆 𝗶𝘀 𝗚𝗥𝗖 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁?

By implementing GRC programs, businesses can make better decisions in a risk-aware environment. An effective GRC program helps key stakeholders set policies from a shared perspective and comply with regulatory requirements. With GRC, the entire company comes together in its policies, decisions, and actions.