At its core, GRC is the capability to reliably achieve objectives [GOVERNANCE], address uncertainty [RISK MANAGEMENT], and act with integrity [COMPLIANCE]. GRC is something organizations do, not something they purchase. They govern, they manage risk, and they comply with obligations. However, there is technology to enable GRC related processes, such as legal and privacy, to be more efficient, effective, and agile.
However, too often the focus on GRC technology is limited to the process management of forms, workflow, tasks, and reporting. These are critical and important elements, but the role of technology for GRC is so much broader to operationalize GRC activities that are labor intensive, particularly in the context of legal and privacy. Simply managing forms, workflow, and tasks are no longer enough. Organizations need to start thinking how they can integrate eDiscovery and data/information governance solutions within their core GRC architecture.
What is needed is the ability to search, find, monitor, interact, and control data throughout the business environment. GRC platforms are excellent at managing forms, workflow, tasks, analytics, and reporting. But behind the scenes there are still labor-intensive tasks or disconnected solutions that actually find, control, and assess the disposition of sensitive data in the enterprise. eDiscovery and information governance solutions have been disconnected and not strategically leveraged for GRC purposes. Together, the core GRC platform that integrates with eDiscovery and information governance technologies builds exponential economies in . . .
[THE REST OF THIS ARTICLE CAN BE FOUND ON THE X1 BLOG WHERE GRC 20/20’S MICHAEL RASMUSSEN IS A GUEST AUTHOR]