Businesses today are more productive than they were ever before, largely thanks to technology. The pace of business has increased exponentially. We can see this in every industry around us. It used to take multiple days to complete bank processes that can happen instantly now. Collaboration was almost impossible between two different teams in […]
Anti-money laundering has always been an integral part of compliance management. Its importance has, however, increased greatly in the previous two decades and continues to increase. Since AML compliance is such an integral part of compliance, it is also an integral part of most GRC solutions. However, the benefits of GRC solutions go beyond […]
GRC implementations increase compliance levels, lower risks, and make businesses more effective. While it is easy to see that GRC software has brought improvements to the way the business operates, assessing the benefits in an objective, quantified manner often remains an elusive goal. That is why it is important to create metrics that can […]
GRC increases compliance levels, enhances risk management, and results in better governance, but it needs the right organizational culture to thrive. Some businesses see minor improvements after GRC implementations while others see complete transformations, and the only difference is in the culture.
This phenomenon isn’t unique to GRC. Businesses went through the same […]
The governance, risk, and compliance market keeps increasing in size and is projected to become a $64 billion dollar industry by the year 2025. This growth is fueled purely by multiple factors which all increase the demand for GRC solutions. Some of these factors are external while some are internal. GRC solutions are […]
There are many different approaches and strategies which can be undertaken to mitigate organizational risks. There are four basic types of risk mitigation strategies, under which there are multiple methods and processes. These strategies are avoidance, transference, control, and acceptance. Since the GRC model includes managing risks, GRC helps all four categories in […]