5 Benefits of a Great Holistic GRC Platform

Matt Kunkel | March 11, 2022

At LogicGate, we want to help you transform business risk into strategic opportunities. We want to help your company make smarter and better risks.

That starts with working together better – with your employees, your customers, and partners. So how do you do that?

You need a system that helps your team communicate and share data. That won’t happen without investing in the right software and practices. A great holistic GRC platform can get you there. Here’s how:

1. Shared Communication

How we work has changed. Companies have adapted to the unique needs of their business, employees, and clients. Couple that with the Great Resignation, workforces are evolving. This means companies need a way to share information and maintain critical knowledge.

Whether employees operate in-person, remotely, or with a  hybrid workforce, your company needs a way to gather and share information. A great holistic GRC platform adapts to the way your company and employees work.

No more siloed tools or data distributed across different systems and networks. No more delays because Laura is out of the office or David hasn’t sent the report. Even if your company operates across different geographies and schedules, with a holistic GRC platform you can stay up-to-date on all your risks. From cybersecurity to audit to regulatory risks, you have the information you need to run your business.

2. Your Data All in One Place

When you need to make a decision, are you confident you have access to the most up-to-date information? 

Many companies operate with different systems and networks. Data is spread across multiple platforms which are read or accessed by only a few employees. This causes communication silos, information lag, and increases IT security risks.

It also means that you may be missing the big picture on where your company is at risk. Or worse, you may be missing the chance to strategically take calculated risks. 

A holistic GRC platform keeps your data all in one place. No matter your role, you can access the information you need to know to make effective decisions, helping you turn risk into opportunity.

That’s a win-win for your employees, clients, and partners. 

3. Time for What Matters

There’s a talent war today. If your employees are spending hours on manual or redundant work you’re probably not using their time as efficiently as you could. 

When you can automate manual work and make processes better, everyone wins. That’s the power of a holistic GRC platform. 

Your employees can use that time for higher-value and more strategic work. This makes your company better prepared to handle whatever comes — from mitigating cyber risks to tackling climate risks to managing supply chain disruptions. 

And with more time, better-shared communication, and centralized data, your company can generate the deeper insights needed to get ahead of the competition. 

4. Reporting Everyone Understands

Putting together reports shouldn’t take hours of collecting data and aligning columns. A holistic GRC platform makes reporting a breeze. 

Shared communication, data in one place, and automated reporting mean no more manual data collection and the potential for error. Instead, you get polished reports everyone can understand.

Because risk is everyone’s business, everyone should know what risks your company faces and their potential impact. Reports can be customized for anyone from the board to senior management to the business. And as rules are added and changed, you can add new reports to stay on top of your risks. 

5. Accelerated Growth

Risk is on everyone’s mind. From the board to the CEO to the risk manager and internal auditor, risk is no longer an afterthought. 

Along with the ever-present cybersecurity concerns, there are always new risks to contend with. Climate change, supply chain issues, and workforce disruptions are all things companies must deal with. And with the demand for better ESG practices, companies have a lot on their plate. 

A great holistic GRC platform can help your company prioritize and address these issues by giving you the tools to capture all these risks and insights you can act on. 

Whether that’s quantifying your probable and possible risks to dollars and cents for more transparent and informed decision-making. Or helping your company manage its ESG strategy and achieve its goals. 

A great holistic GRC platform changes the way you manage risk. It gives you better collaboration, information, and reporting, which ultimately translates to market advantage. 

To learn more about all the things a holistic GRC platform can do for your company, check out our ebook, How to Make Your Work Life Exponentially Easier With a Holistic GRC Program.

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