| How can companies use the increasing demands for | | | | Consistency delivered across the enterprise, by using |
| legislative and regulatory compliance to provide | | | | Document Management for the enterprise wide |
| benefit? Whilst good governance, effective risk | | | | output of information including everyday email |
| management and compliance management are | | | | systems ensuring enterprise wide adoption and |
| undoubtedly a challenge for many businesses and can | | | | adherence. |
| be viewed as onerous they can also be viewed in a | | | | Sustainability, by offering organizations the |
| more attractive light as a catalyst for change. If | | | | framework to manage changes and new |
| embraced correctly they can help organizations | | | | requirements as they occur, be they organizational |
| achieve greatly improved business performance in | | | | changes, such as acquisitions or entry into new |
| turn creating increased shareholder value. | | | | markets; or GRC management changes, such as new |
| Today there are many legislative, regulatory and | | | | or amended legislation and standards. |
| best-practice standards affecting organizations and | | | | Efficiency by supporting efficient allocation of |
| the number and complexity of these requirements is | | | | resources, as highest cost and risk areas are |
| forecast to increase. From our perspective it is | | | | identified. |
| essential that organizations invest in GRC compliance | | | | Accountability ensuring that corrective and |
| management systems to provide a framework and | | | | preventative actions are managed and recorded |
| tools for managing all the requirements of the | | | | throughout defined processes. |
| regulations. Organizations need a system which will | | | | When selecting a GRC software solution look for the |
| ensure that they both comply with the latest | | | | following features: |
| standards and can easily incorporate new demands at | | | | Policies, procedure and controls management |
| any time. Leading business analysts recommend a | | | | This functionality is important for the development, |
| single integrated GRC system approach, to aid simple | | | | maintenance and communication of the policies and |
| management and reduce costs. | | | | procedures to comply with regulations and standards. |
| The leading GRC management solutions should be | | | | Risk & control assessment |
| able to addresses the business-critical issues, forming | | | | This functionality is required for the gathering of |
| the foundation for a single corporate wide unified | | | | information for evaluation of adherence to standards. |
| GRC platform. As with all software different | | | | Risk analytics |
| applications will have their strengths. Some will be | | | | These provide the data for executive and |
| very industry specific others will be more flexible and | | | | management personnel to measure the overall state |
| provide the functionality to cover multiple compliance | | | | of risk and compliance. |
| areas, including Sarbanes-Oxley, ISO 9000:2000, ISO | | | | Investigations management |
| 14000 and ISO 18000, Life Sciences, IS0 27001 and | | | | To centrally manage the recording of incidents and |
| multiple industry specific compliance requirements. | | | | facilitate the development and implementation of |
| The key benefits a Governance Risk and Compliance | | | | corrective and preventative actions. |
| Management system should deliver are: | | | | |