The Basics: What is GRC?
Governance, Risk Management, and Compliance, or GRC, is a blanket term that refers to a company's integrated strategy for tackling the broad issues of corporate governance, enterprise risk management (ERM) and corporate compliance. The components of GRC are:
Governance— The management processes that enable effective decision making to ensure an organization achieves its goals.
Risk Management— The process of setting acceptable enterprise risk thresholds and then analyzing, tracking, and mitigating potential issues to ensure the appropriate risk level is met.
Compliance— The process of conforming with external rules and regulations and internally defined directives and standards.
Agile GRC Solutions —
Adapt to Changing Environments
What is Agile GRC?
LogicGate believes that technology should be the link between the Governance, Risk, and Compliance pillars in GRC. Traditional GRC software is complicated, inflexible, and time consuming. Agile GRC enables organizations to quickly implement robust GRC solutions that can change and grow with the rapidly changing business landscape. The benefits of Agile GRC:
Our mission is to design GRC software that does not require months of professional training for organizations to start seeing ROI. Our LogicGate platform engages users from their first interactions to more advanced administrator functions.
The LogicGate platform enables organizations to easily create solutions to solve the challenge of Governance, Risk, and Compliance head-on. No two businesses face the same risks or compliance challenges, and that’s why LogicGate flexible workflow model has been effective at helping companies implement GRC solutions. LogicGate's pre-configured solutions can be easily deployed to solve the most critical GRC issues, such as Enterprise Risk Mangement , Policy Management , and Regulatory Compliance
GRC In Depth —
Empowering Decision Makers
Governance: Making the Right Decisions
Making the right decisions is what drives progress for organizations. The decisions that drive a business forward are made by many employees through the organization, in line with their expertise (Product Development, Manufacturing, Marketing, etc.). Governance processes and activities ensure that the key information the managers use for decision making is accurate, complete, and relevant. Governance processes also ensure that the decisions made by management (the strategies, directions, and instructions) are communicated and executed effectively. The goal of any great GRC software is to provide decision makers the upfront information about potential risks and provide the ability to execute on decisions through effective compliance controls and communication.
Risk Management: Identifying, Analyzing, & Assessing
Risks are an inherent part of any business. As an organization grows, newfound risks can emerge that did not exist before that must be incorporated into its risk assessments. To successfully manage risk, an organization must be able to identify, analyze, and, if necessary, respond to risks that might negatively impact their business decisions, goals, and objectives. Organizations must be capable enough to manage risks from a wide variety of sources, such as commercial/financial risks, information security risks, technological risks, to name a few. External legal and regulatory risks are perhaps the key issue in GRC today.
Compliance: Following the Rules
The starting point for any strong compliance program is to effectively identify all of the rules, regulations, laws, and internally defined directives that the organization must follow. An organization’s compliance to this corpus of applicable rules and regulations must be continually monitored and assessed as their business and laws change. As gaps in organizational compliance are discovered, decisions must be made to prioritize, fund, and initiate corrective actions deemed necessary.