53% of businesses test all controls implemented to meet security requirements in order to ensure compliance. How does your business manage its gap analysis, risk assessment, mitigation, and remediation? Many times, enterprises burn the midnight oil by undertaking the lengthy process of manually tracking their IT compliance performance and regulatory mapping.
This is exactly where the relevance of IT GRC comes in.
Relevance of IT GRC
IT Governance, Risk and Compliance (GRC) aims to achieve the following objectives: effectiveness, efficiency, confidentiality, integrity, availability, reliability, and security. Adopting a unified IT GRC approach and managing the associated activities coherently will create efficiencies, provide a holistic view of the IT environment and ensure accountability.
IT GRC includes aligning processes and practices with organizational goals, tracking regulatory change, verifying compliance, and implementing procedures and practices that a company implements to achieve organizational objectives through risk management. It is a strategy that businesses use to fulfil its strategic organizational goals for enterprise risk management, overall governance, and compliances.
IT GRC ensures that the activities and functions of your IT organization support its objectives, gives optimized costs, follows relevant best practices, and makes optimal investments in IT. Besides, it also ensures that the critical IT resources are responsibly, effectively, and efficiently managed and used.
IT GRC Management Programs
All IT GRC management programs boil down to generating business outcomes. Experience shows that firms that manage IT GRC as an integrated program encompassing people, processes, and technologies more effectively add value to their organizations than those that merely concentrate on implementing technology or processes. In addition to strengthening IT risk, governance, and compliance management, a good, integrated IT GRC program also connects these procedures with the more comprehensive corporate governance structure.
IT GRC must be seen as an integrated activity where the need for cross-functional collaboration is relatively high. It is crucial to carefully sequence efforts so that the IT GRC program has a solid foundation and achieves early successes.
Skillmine COMPLYment is a tool that offers a unified platform for all the IT compliance requirements of businesses. It ensures an organized asset, risk management, assessing internal IT audit checklist, strategic sourcing, monitoring, and governance besides managing and tracking a range of compliance requirements like PCI, ISO, HIPAA, SEBI, SAMA, GDPR, NIST, and more. Would you like to know more about IT GRC? Understand the various aspects of IT GRC in an upcoming webinar on 28th July, 3-4 PM. Register here:
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