Now a day’s businesses are highly dependent on IT. This has also led to the risk of business getting exposed to a number of threats, vulnerabilities and risks. The government too had laid down many regulations for security and privacy that needs to be complied by the business to protect the private information of the customer and business.
IT security and compliance are based on effective and proper planning, administration and designing of the IT systems. GRC is one such software for governance, compliance and risk management which enables integration of public companies. It also helps in managing the IT operations of the businesses.
What does GRC software do?
- Manage IT Policy and Governance
- Assessment of IT risk
- Tracking of IT asset
- Reporting and compliance of IT regulations
- Implementation of IT control
- Management of IT threat and incident
- Planning for business continuity
- Assist in IT audit
- Management of Business performance
- Managing risk related to IT vendor
GRC software offers satisfaction to different stakeholders of the business including
- Business IT executives who are expected to manage and identify risk
- Finance and Accounts manager who are required to meet all the compliances and regulations as stated by the law
- Legal authorities who stress on retention and discovery of records
- IT managers and directors who manage GRC installations all over the organization
Features of GRC software
- Flexibility: GRC is flexible tool designed to meet the risk, compliance and governance of the organization thus improving its efficiency. It is a single solution for all business IT security and compliance related issues.
- Power: It is simple and power software that integrates into an individual framework which eases monitoring and enforcement of procedures and rules. This software reduces the complexity and expenses and also helps in managing the IT risks of the business.
- Hassel free: Everything right from the risk, compliance and governance can be managed from a single platform. It is very easy to install, configure and use this software. It performs a number of activities which reduces the stress of the business.
Keys Benefits of GRC Software
- The major advantage of this software is integration of IT policy management, IT governance, compliance management, risk management, incident management and audit management.
- It helps in creating; monitoring, managing and measuring programs based on IT governance and build a controlled framework.
- GRC permits workflow driven and automated approach to manage, communicate and implement IT procedures and policies within the organization
- It provides an organized mechanism to manage IT certifications, surveys, audits and self-assessment which are reliable, predictable and consistent.
- It facilitates a flexible and integrated framework to analyze and document IT related risks, define controls, manage risk assessment and develop mitigation plan.
- It helps in improving collaboration, eliminating silos and standardizes procedures and processes by integrating the processes of IT GRC with the programs related to enterprise GRC.
- GRC offers a resourceful system for managing, capturing, tracking IT incidents and issues, deficiencies, risks and threats. It also helps in implementing corrective and remediation actions and plans.