Unsiloing Your Data for Better GRC Management

  • August 24, 2021
  • Quantivate

Today’s dynamic and distributed business environment often creates challenges in managing governance, risk, and compliance (GRC). Document-centric and siloed information and processes are reactive and inevitably fail to support successful GRC management initiatives, which leaves stakeholders unaware of risks and incidents across the extended enterprise.

As organizations manage an intricate web of global clients, partners, and business operations, they face a dynamic risk and compliance environment. New employees come and go, market and product strategies shift, and the regulatory landscape changes — all with the potential to increase risk exposure.

GRC Management Success Factors

Success in GRC starts with breaking down data silos and building a management strategy that can be implemented across the entire organization. This requires:

Technology-Enabled Integration

An integrated process and technology architecture equips your organization to manage the full scope of GRC data and requirements. Investing in GRC technology and automation enables risk and compliance teams to detect, manage, and prevent issues on an ongoing basis, using standardized processes.

Learn more: Why Manual GRC Processes Don’t Work

Continuous Improvement

Your GRC program must be an active, living part of the organization and its culture that is continuously maintained and matured. An effective GRC maturity strategy will consider future needs as your business grows and changes and factor in the long-term benefits and ROI.

Learn more: GRC Myths About Cost & ROI 

To maintain compliance, mitigate risk exposure, and govern your organization effectively, you need to stay on top of regulatory requirements and emerging risks, ensuring that you’re managing changes in alignment with strategic objectives and business goals.

Agile and effective GRC processes allow your organization to adapt quickly to both business changes and demands from government agencies, the public, business partners, clients, and other stakeholders.

Read Next 5 Benefits of Integrated Risk Management → 

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