SYDNEY NSW, AUSTRALIA 9 September 2019: We have seen an increase in the number of government agencies reaching out for Governance, Risk, and Compliance (GRC) capability, to help them manage project compliance, control, definition, enforcement, and monitoring.
EnterpriseCreativeCloud (ECC) provides clients with best practice advice and delivery in their digital transformational journey, ensuring company effectiveness and the right project outcomes.
GRC value add
Integrating governance performance, risk, internal control, and compliance management (GRC) activities at the Enterprise level with common methods of shared technology and services enable businesses to be efficient, effective, and agile — while achieving cost reductions.
- Increased company effectiveness and elimination of all redundant work.
- Eliminates duplicated software, hardware, training, and roll-out costs as multiple governances, risk, and compliance to be managed with an integrated solution.
- Provides a single version of the truth – available to employees, management, auditors, and regulatory bodies.
- Enhanced training of achievements of objectives and obstacles.
- Connected reporting for the board, management, and external stakeholders.
- Timely understanding of impact from operational decisions.
- Actionable view of changes needed to meet regulatory requirements.
Governance: ethics, stock option grants, corporate policies, and business performance management, document process and risk, defined documentation controls assess effective control, disclosure, certification processes, and remediation issues, risk compliance maturity levels, and identification of gaps and reporting overlaps, training, and coaching.
Risk Management: operational and Enterprise risk management – identification and categories of risk, assess risk, mitigate risk, report on containment of
Compliance: financial operational, regulatory, workplace, IT, internal audits – document processes and risks, define and document controls, assess the effectiveness of controls assess the effectiveness controls, disclosure, and certification of compliance processes remediate issues.
Quality Management: Supplier, internal, and customer quality reviews.
Technology: integration, automation, and road map.
Benefits resolved by solution
- Tactical rather than a strategic response to governance, risk, and compliance.
- Growing regulatory environments and increased scrutiny from Regulatory bodies, corporate boards and executive teams.
- Higher business complexity.
- Increased focus on accountability.
- Governance risk and compliance activities are managed in silos which potentially increase the overall business risk.
- Parallel business activity – duplication of effort and increasing costs.
- Multiple point software solutions to manage governance, risk, and compliance.
- Increased activism among shareholders.
- Risks are no longer the sole responsibility of specialists.
- Compliance typically begins as a provider with high costs resources to achieve deadlines but are not one-time events.
- Contradictory processes and documentation in different departments.
- Code of conduct not clear.
- Policies lacking or not updated.
- Sarbanes – Oxley requirements needed.
- Internal audit identified with issues to mitigate.
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