Integrated GRC Software Platform

A truly integrated GRC software platform

The business process is the ultimate area where converged controls and risks meet. A truly integrated Governance, Risk Management and Compliance (GRC) software platform will include embedded process documentation capabilities. BWise enables an organization to document business processes at any level, from a strategic enterprise level down to transactional levels with all corresponding risks and controls.

Your GRC Journey

The integration of Governance, Risk and Compliance Management initiatives into one converged approach is not easy. A successful, embedded and integrated GRC approach results in:

  • A transparent organization
  • Streamlined processes
  • Significant cost and time savings
  • Reductions in key controls and risks
  • Numerous options for business performance improvements. 
To benefit from the integration it is recommended that an organization develops a GRC strategy including the financial justification of the investments of the program. Internal Audit, Risk Management and Compliance departments have to work closely together and to agree on the framework to be used, such as COSO or ISO 31.000. Consensus also has to be reached on the language and definition of terms, as well as the GRC platform to embed the GRC strategy into the entire organization. Several key questions need to be answered: 

  • How are Risk Management and Compliance integrated into one overall corporate framework?
  • How can the enterprise ensure a control is tested once, but used by the different GRC functions?
  • How do risks roll-up and relate? 
When the strategy is defined and alignment is agreed, the implementation can best be done in phases to ensure quick wins are achieved or pain points are resolved. Often regulatory pressure defines the first use cases to be implemented on the GRC Journey. A step by step approach often works better than a ‘big bang’ so we advocate “Think Big, Start Small.”

Convergence is an ongoing process

Enterprise GRC platforms are usually able to support an already converged organization; however, convergence is like a GRC Journey. Only a few organizations have already reached a truly converged state. Companies would need a software solution to assist them during the ongoing process of convergence, and not only with the end result. With a proper methodology and supporting technology, an organization will achieve the desired converged state. 

More Information

Would you like to learn more about one of our role-based software solutions? Download our brochures.

GRC Library

More information about Governance, Risk and Compliance can be found in our GRC Library.

GRC Journey Web TV

Watch our videos about GRC related topics.

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