Constant change
Changes in the political environment, regulatory regime, and disruptive technologies put scattered GRC processes and information behind the curve exposing the organisation to risk.
Whether a multinational business operation or single project, the challenge is the same; establish controls, respond to risk, and deliver results; each requiring access to quality data. With many people doing many things in many places in a large organisation, it is difficult for a leader to achieve coherent oversight. That’s where Governance, Risk Management and Compliance (GRC) comes in.
GRC is the integrated collection of business arrangements, capabilities and controls that enables organisations to provide good stewardship, reliably achieve objectives, address uncertainty and act with integrity.
Governance
Governance sets the direction, strategy and structure of the organisation which helps management verify processes and deliver on objectives. One key aspect that governance provides is context for risk management.
Risk Management
Risk Management seeks to reduce uncertainty by analysing, detecting, and responding to emergent risks within the Governance context. Enabling organisation leaders to act through risk acceptance, avoidance, mitigation, or transfer.
Compliance
Compliance validates and assures the organisation acts with integrity in fulfilling its regulatory, contractual, and self-imposed values. Whilst ensuring risk is managed in line with the organisation’s risk appetite and the controls they have put in place.
Why is GRC so important?
GRC enables leaders to make better decisions by setting out the structure and oversight for the organisation, identifying critical uncertainties, and ensuring the organisation operates above board and in line with legislation.
Growing Relationships
The growing array of outsourced relationships and increasing regulatory and risk exposure is bearing down on organisations to include in third-parties in GRC strategies.
Scattered Information & Platforms
Many organisations still find they are overwhelmed by silos of information that are disconnected across several GRC platforms in different areas.
Need for Horizon Scanning
There is growing demand and need for the integration of emergent external context and intelligence feeds into the GRC architecture.
Fundamentally, it comes down to how agile and responsive your organisation is to changes in the business environment.
HAELO helps to facilitate this by providing a GRC framework (Organisational Meshing®) and software platform (IO®) for creating and sharing data in a way that is focused, informative and actionable.
Providing decision worthy insight is invaluable to the smooth running of any organisation and the HAELO solution is proven to enable the delivery of results by connecting people, situations and decision makers and actionable insights.
Put simply, we help organisations put insight and foresight in plain sight.
