Governance, Risk and Compliance, or GRC for short, refers to a company's coordinated strategy for managing the broad issues of corporate governance, enterprise risk management (ERM) and corporate compliance with regard to standards and regulatory requirements.
Specifically, the three pillars of GRC are:
Governance : The effective, ethical management of a company by its executives and managerial levels.
Risk : The ability to effectively and cost-efficiently mitigate risks that can hinder an organization's operations or ability to remain competitive in its market.
Compliance : A company's conformance with regulatory requirements for business operations, data retention and other business practices
Designing, enhancing, and implementing a unified IT Governance, Risk & Compliance (GRC) approach generates efficiencies, provides a holistic view of your business technology environment, and ensures accountability. GRC ensures that the activities and functions of IT support your digital strategy, reduce costs, incorporate relevant best practices, and allows you to utilize critical resources responsibly, effectively and efficiently.
Managing regulatory risk is the number one risk management challenge for organizations across the globe. Sapio compliance management solutions enable organizations to balance the mounting regulatory and risk management obligations with improving business performance. Our flexible technology systems and services allow organizations to more efficiently adapt to changing regulations, enhance data quality and break down operational silos.
Governance Risk and Compliance as a service