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Learn about the key challenges of a governance, risk and compliance (GRC) program

By January 4, 2016 No Comments

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Learn the importance and challenges of creating a governance, risk and compliance (GRC) program

Why implement a program of GRC (Governance, Risk and Compliance)?  In addition to bringing these benefits to companies, some business goals are common, such as reducing costs, increasing productivity and operating efficiency, and all in accordance with market policies and regulations. THE GRC  allows this transparent management.

After the boom of 2008, when most companies implemented the GRC, Even today many of them have failed to achieve their expected goals. This is mainly due to the lack of resources to meet the objectives and lack of cooperation and collaboration between business areas within the organization.

Given this problem, the RSA Archer developed an ecosystem eGRC which enables the implementation of a corporate governance, risk and compliance program on a single platform where users can work faster, more efficiently, by sharing knowledge. GRC and the online exchange of applications, content, services and integrations.

Many companies still try to do the GRC manually, which becomes unfeasible. As eGRC it is possible to track, in a single dashboard, all risks, and the areas responsible for each, ensuring faster decision-making and greater governance control, as the organization's enterprise risk profile and compliance status are viewed in real time.

GRC Research (Governance, Risk and Compliance)

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A study of RSA Archer, conducted by the Forrester Institute in 2011, with over 700 companies from different segments, aimed to identify the costs and benefits that affected the decision to invest in the solution. eGRC, showed that 100% customers felt the need to automate processes GRC to increase efficiency and present risks more significantly.

In interviews with clients of RSA Archer GRCForrester identified that the main benefits that led to the investment in the solution were the reallocation of the staff to conduct analysis and provide other value to your organization rather than working on the tasks that become automated by the tool; the reduction and redirection of IT security spending; increased productivity and reduced incidents of lower risk exposure.

To the [SAFEWAY] Visibility of all enterprise risks on a single dashboard enables more effective assertive decisions. The platform's flexibility also allows you to build support and integration applications with multiple data sources without touching a single line of code.

According to RSA, Brazil has high potential for this type of solution and ranks the country as a key market for GRC and security solutions. The 2014 World Cup and the 2016 Olympic events are the main opportunities for Brazilian entities to demonstrate maturity in the solution approach. Mobile trends, big data, and the ability to provide contextual information will continue to be critical to future tool enhancements.

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