MGRC is an acronym for Managed Governance, Risk Management and Compliance. As a business owner or executive, you know you are responsible for GRC initiatives. But what is Managed GRC? And how could it help your business?
Governance, Risk Management and Compliance (GRC) is defined by wikipedia as: “three related facets that aim to assure an organization reliably achieves objectives, addresses uncertainty and acts with integrity. Governance is the combination of processes established and executed by the directors (or the board of directors) that are reflected in the organization's structure and how it is managed and led toward achieving goals. Risk management is predicting and managing risks that could hinder the organization from reliably achieving its objectives under uncertainty. Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company's policies, procedures, etc.).”
GRC can be implemented by either a private or public enterprise, large or small business. Any organization that wants to align its IT activities to its business goals, manage risk effectively and stay on top of compliance benefits from GRC. A bonus of GRC, is that all departments in an organization need to be involved, thus eliminating silos in an organization. Organizations that integrate GRC processes and technology across silos have been able to reduce costs and duplication of activities. Their information quality is greatly improved as is their ability to gather information quickly and efficiently, and they can repeat processes in a consistent manner. All of which can save time and money.
Benefits of a Managed GRC
MGRC is a huge benefit to any organization that needs to stay on top of their compliance requirements but is simply overwhelmed by the process. If you are feeling overwhelmed by the process, our MGRC service helps clients understand WHAT they are supposed to do, WHEN they are supposed to do it, WHO is supposed to do it, and HOW they are supposed to do it. Governance, Risk Management and Compliance are activities that are ongoing, and not just meant to be studied once a year when there is an audit. Hiring Uzado to manage the GRC process on a continuous basis allows you to focus on growing your own business, without having to worry about Governance, Risk Management or Compliance. Uzado is a trusted partner that will make sure you achieve your goals, while managing risk and staying ahead of government and industrial compliance requirements.
Need help managing your GRC process. Contact Uzado today to learn more.