Governance, Risk, and Compliance (GRC) is a framework that includes processes and tools to underpin governance and manage risks: making it tangible to achieve organisational goals, address uncertainty, and comply with industry and government regulations.

  • Governance - is the set of policies, rules, or frameworks that a business uses to achieve its goals. It defines the responsibilities of senior management and key stakeholders to uphold good corporate governance and supports the company's responsibility policy in their plans. E.g., ethics and accountability, information transparency, and resource management.
  • Risk - deals with managing by eradicating or remediating different types of risks. E.g., financial, legal, strategic, and security risks. Companies can use an enterprise risk management program, like ServiceNow, to predict and resolve issues, such as risk assessment to find security threats in an IT-system and apply a resolution.
  • Compliance - is the performance of implementing procedures to comply with internal policies, laws, and regulations from industry practices. 

Why is GRC important?

A solid integrated cybersecurity and risk management supports the entire business. Many clients are looking to simplify the effort required to deliver this by harmonising these processes into fewer tools. They are also seeking a solution which is integrated with existing functions and processes providing that holistic 360-degree view: addressing all financial, legal, strategic, and security risk angles in their GRC strategy.

Key stakeholders can then benefit from a cross-functional collaboration platform across different departments that practices governance, risk management, and regulatory compliance as well as operational cybersecurity battles.

How do we deliver GRC?

We can assist clients in implementing a 360-degree approach through the implementation of operational GRC tools with special expertise and partnership with the ServiceNow platform. We have been named ServiceNow Global Transformation Partner of the Year for the last two years and were recently chosen as the lead launch and design partner for ServiceNow's integrated GRC solution. This demonstrates the close partnership and alliance we have with ServiceNow as an organisation, ensuring that we are always providing the most up-to-date and future-proof advice to help you utilise the ServiceNow platform to transform your enterprise, especially in the constantly evolving space of risk and compliance.

The ServiceNow Governance, Risk, and Compliance (GRC) suite helps your business to transform inefficient processes across your extended enterprise into an integrated risk program. Through continuous monitoring and automation, the GRC applications deliver a real time view of compliance and risk, improve decision making, and increase performance across your organisation and with vendors.

In addition, ServiceNow GRC suite applications can connect the business, security, and IT with an integrated risk framework that transforms manual, siloed, and inefficient processes into a unified program that is built on a single platform. The available suite of applications seamlessly interconnects the following key GRC processes across your enterprise:

  • Policy and Compliance Management automates and manages policy lifecycles and continuously monitors for compliance. It makes perfect sense to embrace a single platform that can make all compliance efforts more organised, simpler, more transparent, and highly reliable.
  • Risk Management enables comprehensive business impact analysis to appropriately prioritise and respond to risks. Respond to business risks in real-time with ServiceNow Integrated Risk Management (IRM) application.
  • Audit Management uses risk data to scope and prioritise audit plans and automate cross-functional processes. Reduce audit costs, improve efficiency, and minimise risk.
  • Vendor Risk Management allows your organisation to monitor, detect, assess, mitigate, and remediate risk in vendor ecosystems. As your vendors become party to more of business’ sensitive systems and data, their risk and compliance posture becomes even more important to your security. It's important to assess your vendors regularly and proactively mitigate any issues that arise.
  • Emergency Response Management can be utilised to streamline and automate activities in the face of an emergency. E.g., mobilise business continuity efforts during natural disasters or pandemics like COVID-19.

Contact us today to learn more, and to kick start your GRC transformation.