GRC Overview for improved Business, data and IT Performance
GRC is an integrated collection of capabilities to reliably achieve defined goals, deal with insecurity, and act with integrity. This is why we view GRC as more than just the sum of individual processes, such as risk management and an internal control system. We firmly believe that GRC is a path to develop sustainable corporate management, which provides the solid foundation to drive innovation and growth in companies.
In today's digitalized world marked by fast-changing trends and frequent market fluctuations, the expectations on executives are higher than ever. Investors expect continual, profitable growth. Owners demand stronger transparency requirements in face of growing regulatory pressure and accountability. Successful executives also have lofty expectations on themselves and an inherent drive to make understandable, transparent decisions.
Establish a comprehensive strategy for governance, risk and compliance (GRC), companies can master these challenges effectively and efficiently.
A tight integration of GRC processes is essential for achieving operational excellence and competitive advantages:
- Corporate governance
Corporate governance defines the guidelines for enterprise risk and compliance management. The goal is to achieve uniform, binding methods and guidelines for all employees.
- Risk management
Risk management helps implement these rules in real-world processes. It focuses on an iterative cycle of collecting, documenting and analyzing enterprise risks (entered reporting) and keeping risks under control.
- Compliance
Compliance risks are integrated in compliance management, where various measures are allocated to them, for example, as an internal control system. This method ensures that all internal and external requirements are fulfilled.
GRC is a collection of capabilities
This three-part approach allows companies to build an effective, compliant, complete, future-proof solution to manage risks and opportunities across the entire organization. GRC requires a strong collaboration among people, resources, processes and technologies to align and integrate governance, management, performance, risks and compliance. GRC, therefore, is a collection of capabilities to achieve set goals, deal with uncertainty, and act with integrity.
Our view of GRC
Since 2005, we at avedos have made it our goal to help establish sustainable GRC processes so companies can master these challenges and use their GRC strategy to generate tangible business benefits. GRC is an integrated collection of capabilities to reliably achieve defined goals, deal with insecurity, and act with integrity. This is why we view GRC as more than just the sum of individual processes, such as risk management and an internal control system. We firmly believe that GRC is a path to develop sustainable corporate management, which provides the solid foundation to drive innovation and growth in companies. We want to guide, support and, perhaps, even challenge our clients along this journey to build the basis for generating measurable value from GRC processes.
The standardized GRC platform risk2value ensures rapid results as a result of ready to use templates and preconfigured GRC-processes, which emanate from the current level of maturity.
