Governance, risk and compliance technology: turning risk into results
How does it affect you?
Companies that do not effectively use GRC technology or align its use to their broader business strategy may find themselves confronting any one of the following challenges:
These challenges will have a direct impact on a company's ability to gain a comprehensive understanding of their risk universe.
- Misalignment of strategic, financial and operational plans with risk governance and initiatives
- Little confidence that all risks and risk events are captured and their impact evaluated
- Inability to proactively and sustainably manage and report strategic, financial, technology, compliance and operational risks
- Lack of top-down and bottom-up risk practices integration and consolidation
- Costly response to compliance and risk events and failure to quantify cost of risk management
- Lack of adequate data protection and information securities of critical financial and non-financial information
Without a true understanding of all the risks it faces, the company cannot make strong strategic and tactical decisions that propel sustainable cost efficiencies, accelerate performance and drive profitable growth.