Why Deploy A GRC Management System?
A GRC Management System Is A Great Investment, With Very Short Payback Periods.
GRC Management Systems are very cost effective to deploy, typically costing less than one half a headcount, and that is paid back very quickly. Most common direct payback comes from substantially reduced external audit expenses; increased productivity of current staff (as they focus on true GRC issues as opposed to “chasing folks around”); and the ability to support more GRC projects without incremental hiring.
A GRC Management System Helps Mitigate The Cost Of Business Risks.
Risks, when they occur, cost the firm in two major ways. First is the direct cost of the incident and the second is the liability for having not appropriately anticipated and prevented the risk from becoming an actual event. A well implemented GRC management system both reduces the likelihood of a risk becoming an event AND provides the basis of demonstrating that appropriate diligence and care was taken in the event an incident occurs.
Deploying A GRC Management System Sets The “Tone At The Top.”
Deploying a GRC Management System with appropriate communication to the employees at large sends a very strong message about the values of the company, and is tangible demonstration of management commitment to corporate policies, compliance with regulations and risk management.
A GRC Management System Helps Focus Energy On The Most Important Problems.
A well implemented GRC Management System is a powerful and effective tool in objectively understanding and prioritizing the issues and risks facing a firm and ensuring the most significant risks get the appropriate attention.
A GRC Management System Improves The Quality Of Compliance.
A well executed GRC Management System enlists subject matter experts into assessing and supporting compliance in a structured, low pain way, thus improving overall participation in and quality of compliance programs. Additionally, a well designed system has excellent data management and presentation capabilities, supporting management with the information required to make optimal decisions.
Still Wondering Whether To Deploy A GRC Management System?
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