Under mentioned are important tasks that can be accomplished through GRC:
- Reductions in the cost of risk, compliance and numerous audit programs.
- Workflow, surveys and assessments that are a part of different processes can be automated. This automation simplifies various stages of work in an organization.
- Multiple compliance programs can be tested and their results are always reliable. The controls required for the same can be shared easily within the concerned team.
- Regulatory and corporate policies can be easily embedded into the global trade processes.
- All the opportunities and risks within the financial, operational and the legal departments can be identified and balanced, as and when required.
Undoubtedly, the top management enjoys the holistic benefit factors that are a part of the GRC software. However, the benefits spread out to other departments and people too. Some of them are:
- Stakeholders of the company.
- Legal counselors who overlook the legal requirements and records of the company.
- Business executives who deal with risk management. SAP GRC (Governance Risk Compliance) helps them in identifying and managing risks in a proper manner.
- IT managers who deal with implementation of software that are related to various GRC projects in an organization.
- The finance department, which is responsible for meeting all regulatory requirements.
Accounting for risk at every stage improves upon the performance stakeholders, organizational processes and strategic decisions alike--thus improving their performance and productivity.
Are you ready for the benefits of SAP GRC?