The added value of integrated GRC

A tight integration of the areas of governance, risk and compliance generates a decisive competitive advantage in companies and supports their development on the path to operational excellence in GRC functions. As regulatory pressure continues to grow, owners and shareholders are demanding more transparency. Executives and board members also see the benefits of better traceability and transparency in internal and external decision-making. As these demands on modern management continue to grow, managing the enterprise becomes more complex as well – especially in light of the high expectations on efficiency. By establishing a comprehensive strategy to integrate governance, risk and compliance (GRC), companies can face these challenges both effectively and efficiently. This triad is necessary to establish forward-looking risk and opportunity management that is integrated across the organization. GRC unites the way that people, resources, processes and technology work together in order to align and integrate governance, management, performance, risk and compliance in a standardized way. GRC is a collection of capabilities to reliably achieve goals, cope with uncertainty, and manage the business with integrity.