GRC developed as a discipline when businesses realized that integrating the people, processes, and technology to manage governance, risk, and compliance might help them in many ways. A combined strategy would aid in ensuring that their organizations performed ethically. It would also assist companies in achieving their objectives by minimizing inefficiencies, miscommunications, and other risks associated with a compartmentalized approach to governance, risk, and compliance. Let us discover about GRC and GRC risk management in this article.
What is GRC?
Governance, risk, and compliance (GRC) refer to an organization’s approach to dealing with the interdependencies between the three components namely:
- corporate governance policies
- enterprise risk management programs
- regulatory and organizational compliance
Role of GRC in Risk Management
Hazards that businesses confront include financial, legal, strategic, and security risks. Proper risk management assists firms in identifying these risks and determining how to mitigate those that are discovered. An enterprise risk management program is used by businesses to forecast possible issues and avoid losses. For example, you may use risk assessment to identify and address security gaps in your computer system. For instance, In robotic process automation for manufacturing companies, The GRC framework must be applied across design, deployment, and operations stages to identify and mitigate potential risks.
GRC Risk Management:
Things get more detailed in a corporate environment. Risk management is the capacity to effectively and cost-effectively minimize hazards that might impede an organization’s operations or ability to stay competitive in its market. GRC may be used by organizations of any size. Developing a GRC discipline is especially crucial for big firms with substantial governance, risk management, and compliance obligations since these programs sometimes overlap.
GRC risk management is a people, process, and technology system that enables an organization to
- Achieve goals by minimizing risk and safeguarding wealth.
- Establish company objectives that are in line with values and risks.
- Recognize and prioritize stakeholder expectations
- Operate within legal, contractual, organizational, social, and ethical limits
- Enable the system’s performance and efficacy to be measured.
You might be interested in knowing about robotic process automation in banking industry.
Why Choose Intone For Your RPA Needs?
Commercial organizations are getting more complex, necessitating the creation of a strategy for identifying and controlling essential activities inside the firm. GRC does this by breaking down conventional departmental barriers and forcing them to collaborate to achieve the company’s long-term goals. Intone is the leader in RPA technology, and our collaboration with Enterprise Bot allows us to offer validated solutions that include more features in use-case and mapping than Google Dialogflow. We are proud of our experience and cutting-edge technologies that can assist organizations in embracing the future.
- Our advanced NLP understands customer requests and responds conversationally with a minimum accuracy of 85%.
- Our State-of-the-art front-end RPA ensures your customers a superior experience for which they start to see your brand in a whole new light.
- We offer efficient omnichannel support through easy integration with commonly used customer support channels like Gmail, Outlook 365, etc.
- Our back-end RPA can automate the most mundane, repetitive, and labor-intensive tasks easily. This frees up your employees to help them focus on higher-order tasks.
- At Intone, we offer end-to-end hyper-automation with our low-code engine.
- We also offer top-of-the-line enterprise-grade security with a minimum of 256-bit encryption at both transmission and rest.
- We have higher accuracy than our competitors and we also offer multilingual solutions as compared to the market standard of English only.
- Intone’s RPA will anonymize your data to ensure greater protection of sensitive data and information.
Contact us to learn more about how we can help you!