GOVERNANCE, RISK MANAGEMENT, AND COMPLIANCE

Governance, risk management, and compliance or GRC is the umbrella term covering an organization’s approach across these three areas. Being closely related concerns, governance, risk and compliance activities are increasingly being integrated and aligned to some extent in order to avoid conflicts, wasteful overlaps and gaps. While interpreted differently in various organizations, GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance with applicable laws and regulations.

DATA SEMANTICS is now able to offer custom built GRC data warehouse and business intelligence solutions.This allows high value data from any number of existing governance, risk and compliance applications to be collated and analysed.

The aggregation of GRC data using this approach adds significant benefit in the early identification of risk and business process (and business control) improvement.

Further benefits to this approach include

  • It allows existing, specialist and high value applications to continue without impact
  • Organizations can manage an easier transition into an integrated GRC approach because the initial change is only adding to the reporting layer and
  • It provides a real-time ability to compare and contrast data value across systems that previously had no common data scheme
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