Category
Governance Essentials

A good governance and compliance program sets the foundation for meeting any organization’s compliance and governance objective. When done right and on time, this proactive approach can help you minimize any reactive incident response. 

How do you put it across to your board members and persuade them to have GRC tech in your annual budget? Let’s dive in to understand how GRC software can help in cost savings.

Implementing any new technology is challenging, and a lot depends on the nature of the business. But if you know the right steps, you can achieve the best possible outcome from the technology you are implementing.

GRC tools are software tools or applications that proactively manage compliance, risk, and governance programs across the company, help you control different processes by ensuring that all compliance guidelines are adhered to, and help you mitigate the risks of hefty penalties.

Nonprofit organizations unlike for-profit organizations, are less directed by an operations staff and are largely managed by a committee. It becomes the role of the board to design structures and guidance for committees that will be relevant to the needs of the organization.

The importance of good corporate governance for an organization’s success has been a topic discussed across. However, even though organizations keep in mind the principles, the different models and all the aspects of good governance, there is always scope for error and that is why issues in corporate governance are in abundance. Especially accountability issues.

Good governance is important for the smooth and effective functioning of the organization. It is a broader concept; and includes oversight and practices to establish an organization’s strategic direction and achieve its purpose and make the best use of available resources.

As a healthcare nonprofit, you have the opportunity to impact thousands of lives. However, being a healthcare nonprofit comes with it’s fair share of regulatory and organizational issues that can affect your long term future. In this article, we’ll take a look at the common compliance requirements of healthcare non-profits.

Enterprise Risk Management has been gaining relevance in today’s time due to the dynamic nature of regulations and a competitive market environment. Risk management internal to the company is where the majority of companies are focusing on which special emphasis on optimizing internal controls and processes. However, the major party of enterprise risk management is vendor risk. Managing multiple vendors, suppliers and partners are now difficult. With shrinking margins always the concern for corporates, companies can only focus on optimizing its costs in which effective vendor management plays an important role.

The most basic GRC components are provided by most of the GRC Vendors with their platforms that can be configured to fit different GRC solutions. Organizations who are looking to implement GRC technology for a specific need will evaluate the functionality and cost of the solution differently when compared to organizations seeking an integrated GRC solution.

“Knowledge constantly makes itself obsolete with the result that today’s advanced knowledge is tomorrow’s ignorance”. One has to be on the learning curve and continuously move up. Business today operates in a highly complex & dynamic world. GRC is a discipline that brings together focus areas across corporate governance, enterprise risk management and corporate compliance. The aim of an effective GRC strategy is to ensure that the right efficiencies are brought in and more effective information sharing & reporting mechanisms are enabled.

While the cloud is an extremely hot topic for organizations worldwide, it is still a pretty broad concept that covers a plethora of services and delivery models. As businesses begin to consider switching to the cloud, be it for application or infrastructure deployment, it is more important than ever to understand the differences between the various cloud services.