Governance, Risk and Compliance (GRC) Solutions automate risk management and reporting and offer organizations the opportunity to more efficiently manage their enterprise-wide operational risk. In addition, a GRC solution supports the corporate governance obligations of the General Counsel, Corporate Secretary and Board of Directors.
More than an LMS, GRC solutions are configurable frameworks that allow you to use your own terminologies, methodologies, and business structures and establish the methods needed to monitor the effectiveness of your risk mitigation programs and policies. GRC solutions allow organizations to leverage the inherent interdependencies of GRC processes, eliminate the duplications and complexities that arise from employing disparate processes (including use of Excel spreadsheets and IT systems) and reduce the ongoing management cost and administrative burden of compliance and risk management.
SAI Global's recent acquisition of 80-20 Software solidifies our ability to provide one automated tool for integrating all dimensions of a corporation's GRC programs, eliminating unnecessary solution fragmentation, standardizing processes and driving down the cost of governance, risk and compliance programs.
The applications for GRC solutions are virtually unlimited. In fact, applications are limited only by the number of business processes that a company might define. Some broad examples might be:
- Board management and reporting
- License obligations
- Internal and external audit findings
- OHS incidents and compliance
- Compliance incidents and breaches
- Key Risk Indicators (KRIs)
- Risks, controls and action plans
- Contract and lease management
- Complaints
Read a recent article by our Global Head of Compliance discussing the importance of a GRC framework.
Contact us to learn how our GRC solutions easily record risk and monitor control activity.