Issue reporting and Case management in GRC

The first step to solving any problem is admitting that there is one. No matter how well an organization structures its governance, risk management, and compliance framework there will be issues that always slip through the cracks. Organizations must be aware of this and develop a holistic issue reporting and case management system with 360-degree awareness or issues and how they impact the organization risk and compliance profile.

In today’s fast-paced business environment, organizations must adopt a strategic approach to manage issues and cases. They should be fully aware of any incidents, investigations, and cases that may arise throughout their operations and processes. Achieving this requires implementing structured and accountable processes, backed by an integrated information and technology architecture designed for issue reporting and case management. 

Effective issue reporting and case management are integral components of any successful GRC (governance, risk management, compliance) strategy. Regardless of how robust an organization’s GRC framework is, problems are bound to occur. Therefore, it is crucial for organizations to be prepared to identify and prioritize issues for mitigation and correction. By accurately tracking and remediating issues, organizations can use the information gained from these experiences to improve their governance and minimize future risks. 

Four Key Processes for Effective Issue Reporting and Case Management 

Issue reporting and case management can be broken down into four different processes that can greatly improve the organization’s risk mitigation capabilities.  These processes include:

• Case planning. The organization plans and administers issues, cases, investigations, workloads, and tasks in case management. Resource management and cost-effectiveness are crucial, and they must identify how resources, issues, and cases may change during the year.
• Reporting and intake. To effectively manage issues and cases, organizations must establish a critical reporting process with open avenues for reports. Eliminating duplicates and non-issues is crucial to allocate resources effectively and focus on critical issues. The optimal way to achieve this is through automation with a GRC technology architecture. Once reporting methods are established, organizations can shift their focus to managing cases and issues.
•  Investigation. When an issue is identified, a thorough investigation is necessary to mitigate losses and prevent similar incidents. To expedite this process, structured templates and processes should be created to manage tasks and notify management in case the issue escalates. Keeping everything up-to-date, creating effective documentation, and establishing accountability will improve the organization’s ability to provide a defensible system of record. Automating the process will make investigators more efficient and effective, resulting in better outcomes for any given case.

•  Future planning. In the world of business, issues are bound to arise. However, an effective and agile investigation process helps prevent them from recurring. Once identified and investigated, organizations must determine how to prevent future occurrences by mapping them to policies and procedures, ensuring improvement and engagement. Identifying policy failures and communicating necessary changes is crucial to avoid the same issue from happening again.

Streamlining Issue Reporting and Case Management with Software Solutions 

Organizations should ensure effective and efficient issue reporting and case management processes. However, these processes can be difficult and time-consuming. Thus, organizations must consider implementing software to automate these processes and increase efficiency. Technology helps manage incoming reports, process information, and improves case management.  

Organizations using issue reporting and case management software proactively manage risk and compliance, protect and sustain business objectives, and are more resilient to disruptions. They are ready to overcome issues and sustain growth compared to those using manual processes. 

Organizations can greatly benefit from VComply’s integrated, agile, and collaborative issue reporting and case management program. VComply allows for the seamless integration of issue reporting and case management into other compliance, risk management, and assessment activities across different departments and functions of the organization. This promotes collaboration and better decision-making, breaking down silos within the organization.