GRC Programs: Building the Business Case for Value
Key Benefits of a GRC program
So, what are the key benefits of an integrated GRC Program? For most risk, business and technology leaders, the commitment to an integrated GRC program is based on three main benefit categories:
Lower risk: An integrated GRC program allows organizations to reduce risk by providing visibility into and context around the most urgent business risks across finance, legal, compliance, operations and technology business units — and externally into third parties, suppliers and customers.
Gain efficiency and lower costs: Managing GRC as a program allows organizations to gain efficiencies and lower costs by leveraging a consistent risk and control framework, collaboration approach and overall methodology.
Effective governance and reporting: Organizations that focus on orchestrating GRC as a program are able to report the right information to the right people, at the right time. A common classification and reporting framework supports a clear understanding of the information and analytics required for the board, regulators, leadership, external and internal stakeholders to make the decisions they need to improve business performance.