What is GRC Software?
Governance, risk and compliance software or ‘GRC’ software is an organisation’s strategy for managing governance, enterprise risk management and compliance in accordance with regulatory requirements.
GRC is a strategic implementation of aligning IT with companies goals while maintaining compliance and managing risk effectively. Our GRC software provides a holistic view of your business, highlighting areas of strength and weakness to help you plan accordingly.
The G in GRC stands for governance, this essentially covers all the processes that cover a business’s resources and actions, providing a means to cover what would otherwise be rather large and detailed without the proper attention.
By implementing a dedicated GRC system for your business, your governance can be effectively managed to delegate responsibilities to key members. Governance also details the relationship with the stakeholders, noting the responsibilities, rights and rewards.
When looking at risk management it’s quite an inclusive term that has numerous meanings, however, when a part of GRC, risk management takes on the role of reviewing and mitigating risk associated with the business.
Governance Risk Compliance software enables you to effectively monitor and manage risk in every aspect of your business, organisation goals, stakeholders, operating within a legal and ethical manner amongst a host of other benefits. By eliminating or limiting risk your business is more reliably able to grow.
The definition of compliance in a business context is as follows: the act of obeying an order, rule, or request. To be compliant within your business you will have to comply with all the laws, regulations, standards and ethical practices that apply to your organisation.
This covers a wide percentage of your business as it encompasses the majority of processes and policies, such as best hiring practices, HR, R&D, probation etc.
Being compliant isn’t a simple task and often requires its own role to manage successfully. Our quality compliance system is able to effectively manage and enforce compliance within your organisation.