Governance, Risk and Compliance (GRC) projects can bring unparalleled benefits to an organisation when implemented and used correctly. Business cases for companies implementing or upgrading their GRC tools tend to focus on reducing the costs of compliance and user administration and, of course, improving internal controls. However, even with a well-defined benefits realisation plan in hand, many companies fail to meet their objectives. Why is this the case? How can companies overcome these challenges and ensure that their GRC project will deliver the expected benefits?
Business cases for companies implementing or upgrading their governance, risk and compliance (GRC) tools, tend to focus on reducing the costs of compliance and user administration.
However, to realise the benefits of cost reductions, increased efficiency and improved controls, the right technology must first be selected and then embedded into the business and compliance process, and the technical aspects must be implemented to a high standard.
Richard Hunt, Turnkey Consulting