Reducing the Cost of Governance, Risk Management & Compliance (GRC)
Computers & Technology → Technology
- Author Fahad Mateen
- Published October 17, 2017
- Word count 394
This is a topic that comes up often in our discussions with prospects and customers. Today, GRC is approached from a business unit perspective by many companies, not from an organizational holistic perspective. The end result is redundant and disparate processes, resources and tools littered throughout the organization. This disjointed approach naturally results in wasted time and dollars as each department struggles with the same problems in different ways.
HR may have one system for managing their policies and procedures, the workflows around them, and the evidence of compliance while IT uses a completely different system for managing their IT policies and procedures, workflows and evidence collection. Multiply this across an organization, HR, IT, Legal, Finance, etc. and it is little wonder that many companies find the cost of compliance to be so high.
How can an organization reduce these costs? Implement a regulation and standard driven, top down, industry or vertically integrated GRC solution within their organization. This will reduce costs in two distinct ways:
-
Reduced resource costs. Moving to a unified approach, fewer people can accomplish the same or better results with greater efficiency.
-
Reduced licensing costs. The combined licensing costs of multiple point solutions within an organization almost always outweigh the licensing costs of a single enterprise solution across the organization.
Reduced risk and reduce the costs of non-compliance. Leveraging the same solution across all business units allows for greater degree of unified risk management. Unified risk management through cutting edge Enterprise Risk and Compliance Management Software allows for a greater degree of prioritization and mitigation across the entire enterprise, essentially allowing for a laser-like focus on those risks that have the potential for the greatest impact upon the organization, be they financial, environmental, legal or reputational.
About the Company
360factors, Inc. (Austin, TX) helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures management, risks and controls, audit management and inspections, and on-line training and qualifications, in a single cloud-based platform based on artificial intelligence.
360factors EHS Services offers environmental consulting services in the areas of water, and waste permitting and compliance, site investigation and remediation, environmental and dredge material sampling and evaluation, engineering and geology, expert testimony, health and safety, and operational risk management. Its Managed Services incorporate outsourced risk and compliance services using Predict360.
Fahad Mateen is a Digital Marketing professional overseeing 360factor's inbound marketing efforts. Having 3+ years of experience in Digital space, he is passionate about growth hacking techniques that utilize search optimization, paid promotions, Blogging, online reputation management, social media marketing, PR, branding, news jacking, content outreach and other digital methodologies.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Top 10 Ways Production Scheduling in Business Central Transforms Manufacturing
- How Collaborating with a Software Development Company Can Propel Your Business Forward
- GoPDF An Online PDF Editor Releases Mobiles Apps Compatible with iOS & Android: A Faster Solution for PDF Editing
- The Best AI Logo Generators in 2024
- Adapting to Rising Parcel Rates in 2024 with Business Central and Order Ship Express
- Zoviz Launches New Solutions Day by Day to Users as An AI Logo Maker
- Is Your Finance Strategy Ready for ERP Software?
- A Beginner's Guide to Starting a Career in Web3
- A Step-by-Step Guide to Easily Connecting Your Printer to WiFi
- Harnessing the Power of License Plating in Dynamics 365 Business Central
- Crypto Weekend: Hydra Being “Abandoned”, New Blockchain Games And Partnerships
- Crypto And Web3: Integration That Opens Up New Opportunities
- Top 10 Features You Didn't Know Existed in Product Configurators for Business Central
- Enhancing Test Case Reusability with Execution Recording
- The Ultimate Guide to Hiring ASP.NET Developers for Your Business
- INVESTIGATING THE NEW MACBOOK AIR M3: STOCKPILING AND SPEED EXPERIENCES
- How to Fix Sump Pump Drainage: A Complete Guide to Keep Your Basement Dry
- From Paper to Digital: Transforming QA with Dynamics 365 Business Central
- How AI Content Moderation Keeps Your Brand Afloat
- the best metal detector
- You’re probably not ready for AI. Guide to K-12 data collection.
- Elevate Your Business Central Experience with Free Barcoding Integration
- Choosing the Best SMS Gateway Provider: 5 Essential Features for Success
- Designing Easy to Use Software: Understanding the Basics of UX Testing in Quality Assurance
- The Link: Merging Brains and Computers
- Machine translation vs AI translation: What sets them apart?
- Navigating the Path to Data Excellence: A Guide to Choosing the Right Power BI Consultant with GTH Cloud 365
- The Future of AI: Exciting Times, Big Questions
- The Evolving Landscape of SEO in 2024: Navigating the Digital Frontier
- Customize Your Gaming Console To Optimize Your Gaming Experience