For Compliance, Risk, and Governance teams
Gain control and efficiency with our comprehensive dashboard
Effortlessly centralize document and file management securely
Organize and streamline activities with automated scheduling calendar
Empower compliance with timely notifications, alerts, & deadline tracking
Ensure timely response, accountability, and risk mitigation through escalations
Gain compliance control, mitigate risks, & save time with framework library
Streamline assessments. enhance collaboration, ensure compliance.
Strengthen accountability, compliance, and transparency with audit logs
See our platform in action for free. No credit card required!
Efficiently manage GRC using your everyday tools
The Ultimate Agile Solution for Compliance Teams
Goin 360-degree visibility with intuitive compliance dashboard
Stay informed and proactive w ith notifications & alerts
Simplify file and document management with ease
Automate compliance workflows for seamless efficiency
Streamline compliance with customizable framework library
Enable collaboration across locations, departments, and teams
Centralize compliance work for streamlined efficiency
Goin actionable insights with robust reporting feature
The Essential Solution for Empowered Risk Managers
Identify and track risks using the centralized risk register
Enable collaboration across stakeholders for better resolution
Streamline risk assessment with process automation
Enhance risk visibility with intuitive and centralized dashboard
Establish connection across teams, departments, and locations
Elevate risk awareness through proactive notifications
Manage files & evidence centrally for efficient control
Enhance decision-making with actionable risk insights
An Unparalleled Solution for Policy Management Teams
Efficient policy distribution through central repository
Streamline policy drafting and lifecycle management for simplicity
Simplify compliance with comprehensive policy templates
Simplify policy management with efficient version control
Accelerate policy approvals with automated processes
Collaborate seamlessly with cross-functional teams
Effortlessly measure policy training effectiveness with assessments
Manage policy life cycle with automated reminders and notifications
The Complete Solution for Empowered and Efficient Audit Teams
Maintain transparency and accountability with audit trails
Organize and streamline audit with automated scheduling and calendar
Centralize audit files for streamlined evidence collection and management
Stay informed with proactive audit activity notifications & alerts
Streamline audit assessments for comprehensive compliance
Bring audit plans, activities into the single space for complete control
Simplify audits with automated workflow efficiency
Gain 360-degree visibility with intuitive Audit dashboards
Empowering success through streamlined compliance, risk, and governance solutions
Empower your business with simplified regulatory compliance solutions
Empower your enterprise by elevating risk management practices
Transform GRC operations for optimized efficiency and effectiveness
Mitigate risks with seamless third-party risk management
Check out our comprehensive guides for seamless management!
Empower your business with pre-built customizable regulatory and control frameworks
Achieve quality success through ISO 9001 Framework
Deliver compliance excellence with the power of SOX framework
Simplify your security approach with ISO 27001 framework
Navigate cybersecurity excellence with NIST framework compliance
Promote data security through compliance with PCI DSS framework
Unlock trust and security with SOC 2 framework for compliance
Empower your industry with unmatched effectiveness and efficiency
VComply for the Financial Services Industry
VComply for the Manufacturing Industry
VComply for the Banking Industry
VComply for the Non-Profit Industry
VComply for the Higher Education Industry
VComply for the Food & Beverages Industry
VComply for the Healthcare Industry
VComply for the Construction Industry
Stay connected and grow alongside VComply
Stay informed on compliance, risk, audit, and policy management trends
Streamline work with comprehensive guides for seamless management
Navigate complex GRC challenges with valuable e-books
Discover user stories for valuable insights into user-experiences
Access comprehensive definitions and explanations for essential GRC terms
Gain a comprehensive understanding of the features, benefits, and capabilities
Discover insights from experts on the latest happenings in GRC
Learn tips, tricks, and insights to make compliance work for your organization through our expert webinars!
Utilize our go-to templates and checklists to help you stay compliant
Keep in sync with the latest changes by updated framework templates
Get compliance assistance through VComply compliance checklists
Download policy templates that you use to create guidelines and processes.
Discover the power of VComply through our detailed use case guides
Get to know what make VComply the best GRC platform on the market
Discover VComply's value, mission, and vision for better GRC future
Stay informed about VComply and GRC industrylatest updates
Join VComply, redefine compliance, unleash potential
Know about our partnership program
Get to know our board of advisors
Our legal terms of services and privacy policy
Stay up to date on the latest VComply news
VComply offers unparalleled Sales and Customer Support
Send us your sales queries and let us know your needs
Get 24/7 quick and dedicated support anytime
Lets get social
Follow us on LinkedIn for company updates
Join VComply on Twitter for live updates
Do you want to enhance organization efficiency, reduce risks, and enact a unified governance policy? An effective GRC program is the answer.
For any organization to manage its business operations effectively, Governance, Risk Management, and Compliance (GRC) is a core framework that must be followed to manage its business activities, including IT operations that comply with regulatory requirements. The GRC strategy is an essential part of any business or organization.
Think of GRC as a glue that holds together your business goals and helps you ensure that you comply with your company’s policies and regulations and reduce the risks associated with them. Since GRC offers a structured and scalable framework for managing security, it makes the perfect one-stop shop for all your information security management needs. It is an integrated and structured solution.
This article discusses the elements of a successful GRC governance program, its obstacles, and how to create one that aligns with the needs of all departments within an organization.
GRC stands for governance, risk, and compliance. GRC Risk Compliance refers to how an organization manages GRC governance, risk, and compliance that considers various markets’ legal and regulatory requirements.
According to the Open Compliance and Ethics Group (OCEG), GRC is an integrated collection of capabilities that facilitate the achievement of objectives reliably, address uncertainty, and ensure that ethical behavior is always adhered to by the organization.
There is nothing new about GRC management. Governance, risk management, and compliance standards have been a part of organizations for a long time.
GRC program enables organizations to support their business goals more meaningfully, unlike other risk management systems.
As implied by its name, a GRC security framework comprises three main components: Governance, Risk, and Compliance. Here, one can learn about the leading elements of each category of the GRC program.
This component of GRC relating to how a company is governed applies to all levels of management, from the top executives to those at the lowest levels. This category typically includes the following elements:
Corporate Management: Corporate Management focuses on the organization’s relationship structure and how teams interact to achieve efficient and seamless communication.
Strategy Management: In this facet, each team member is evaluated in terms of their goals and responsibilities. When everyone understands their roles, and there is an alignment of duties and roles with the company’s objectives, efficient governance management is obtained.
Policy Management: Is there a standard policy, process, or procedure that describes the roles and responsibilities of employees? A well-managed policy ensures consistency throughout all operations, which enables everyone to achieve the desired results regularly.
As a part of the GRC program, this component classifies, evaluates, and manages the different risks that the company faces daily. Organizations can save the most money in the long run by prioritizing security approaches that are most likely to be implemented with the least impact. Among its primary components are:
Risk Identification: Are there any risks the company faces every day and is it likely that accidents or attacks will happen? Getting the right answer requires a thorough inventory of processes, assets, and relevant data about these threats.
Risk Assessment: Based on the likelihood and impact of the risk, it and the company’s concerned compliance officer is ranked. In this way, the most significant impacts and probabilities can be addressed. In return for a minimal investment in cybersecurity, firms will see a considerable return on their investment. Know more about the importance of risk mitigation.
Risk Management: To mitigate the risk, the organization must categorize risks based on likelihood. Developing new security procedures or protocols may require acquiring advanced network security solutions, creating awareness programs, or implementing new security policies.
In GRC, compliance management involves taking appropriate measures to ensure compliance with industry standards. In compliance management, procedures and processes and information security standards are discussed. To avoid financial penalties and censure, preventing non-compliance is one of the main objectives.
Its primary components include:
Internal and External Audits: The primary goal of internal audits is to determine any potential compliance issues within a company. Additionally, external auditors could be presented with objective compliance reports by compliance managers.
Compliance Research: Investing time and effort in researching the different standards in your industry or organization as a part of compliance management is also essential. In addition to the insights offered by external auditors, local authorities and legal counsel are critical to ensuring that the regulations in your area are complied with.
Security Controls and Procedures: Almost every compliance standard specifies what security controls and techniques should be used to ensure compliance. Therefore, identifying and implementing controls is crucial.
Compliance Reporting: Most people miss the point of producing the proper documentation to prove compliance with industry standards. Reporting and documentation requirements are critical components of most compliance standards. If compliance manager fails to comply with these requirements properly, they may face penalties, which may vary from company to company. Even if they follow the suggested guidelines, they still have to ensure that they keep accurate compliance records.
GRC might seem overly complicated or academic, and a business may be inclined to disregard it. However, it can provide many benefits, including the following:
Shared data and strategy among your IT, legal, finance and marketing teams can facilitate visibility and cross-functional collaboration within your organization. When data is siloed, it can lead to the incorrect interpretation of the truth and potential risk and create duplication of effort. Shared data makes it easier for leaders to identify dependencies and streamline oversight.
It is possible to save your company unnecessary expenditures on compliance issues such as fines and audit costs if you identify risks before or mitigate them once they happen. Your bank account will benefit later if you stay ahead of threats.
Integrating GRC into your organization contributes to a unified operational strategy. It helps your teams work more efficiently if they have quality improvement, can find information quickly, and follow repeatable processes.
Despite GRC’s advantages, there are a few hurdles to overcome. A company may face the following challenges:
In the world of artificial intelligence and automation, some GRC processes are manual. When there is a lack of automation, the process can become inefficient, human error can occur, and documentation can be hard to find. Additionally, manual processes limit the organization’s ability to monitor and collect data transparently.
Implementing a robust Governance, Risk, and Compliance program is difficult, and problems often arise when vision and direction are lacking. The success of a GRC solution depends on the leadership of the organization.
It won’t happen overnight. Investing in GRC technology is worth the effort, but you must be patient and take your time, as you cannot rush the process. In the process of speeding up, an increase in complexity will negatively affect the quality of the implementation.
Inadequate server capacity can result in failed implementation or significantly reduce a solution’s performance. The number of companies that have attempted to import a new technology only to find that their server capacity is insufficient has been considerable.
To wrap up, let’s look at some general best practices for planning GRC strategies.
To keep up with developing regulations, trends, and compliance requirements, every company needs a GRC program.
Having learned what GRC programs need to follow best practices, a company can start building its own. Next, it must determine which platform is suitable for capturing, quantifying, and analyzing performance data.
In its efforts to solve risk-related problems, VComply stands out. With a keen eye for compliance management challenges and the ability to help clients make risk-informed decisions, VComply provides an integrated risk management platform that is next-generation, cloud-based, and can work with existing and upcoming GRC programs.
It’s time to say goodbye to old-fashioned programs.
A firm’s GRC program can be observed in real-time with VComply, thanks to its real-time visibility features.
How can a successful GRC program be developed within an organization? Contact VComply today to schedule a meeting and see how easy it is to manage GRC with VComply.
Ready to set up a trial of VComply and automate your compliance process?