For enterprises looking to invest in a Governance, Risk and Compliance (GRC) platform, there are challenges ahead. Not only do you have to gather the right team and choose the right software platform, you must decide what victory looks like and plan accordingly.
In this way, moving forward with this new corporate culture is like a race. It requires speed and agility but also perseverance, teamwork and discipline to win.
If you win, you can learn valuable lessons about your business and yourself. To ensure a GRC victory, there are five steps that must be taken.
Getting on the Right Track
The road to winning big with GRC is paved in knowledge and introspection. To avoid black flags and make it to the final lap, you must:
Understand GRC — Before applying a GRC-based business risk management framework you need to understand what it is, what it looks like today within your specific industry and what strategy best suits your enterprise.
Ask How Good You Are Today — To become a champion, you must be honest about what kind of risk culture you currently have and what you see in the competition. Don’t be afraid to acknowledge your pain points and where you need improvements.
Know What to Ask Before You Buy — Knowing the right questions to ask is what makes a champion stand out from the competition. Choosing your software systems and personnel wisely, while avoiding common mistakes, will get you to the finish line.
Overcome GRC Challenges — No one said the road to victory was easy, but there are some key things you can do to overcome the challenges you’ll face. Look down the road and strategize ways to maneuver through obstacles using data, the experience and skills of your team, executive support and a well-chosen software.
Justify Your New GRC System — The path to victory is expensive but isn’t as costly as you might think. Finding the right GRC system that can guarantee a long-term return on investment and improve productivity is the flag-to-flag way to convince your Board to allocate the necessary funds.
Procipient® —Race-Prepared Software
Procipient® is an innovative, simple and effective enterprise risk platform that unlocks the power of GRC and ERM. Our proprietary enterprise framework enables you to build out any number of enterprise risk models in a matter of hours, not months or years like other software. These pre-built frameworks can be used immediately and customized to suit your needs, giving you the advantage of a ready-to-drive GRC platform.
Procipient®’s values include great communication, timely responsiveness, collaborative leadership and loyal support for our customers. We don’t just want to build your race car, we want to be your race team.
Be a GRC champion with the horsepower of Procipient® and our implementation consultants. By following these five steps throughout your GRC leadership journey, you’re destined for the victory lap.