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GRC Solutions: The Cornerstone for Regulatory Resilience in 2024
A recent KPMG Chief Risk Officer Survey identified that organizations will be facing significant challenges in the next 2-5 years, with regulatory change, compliance issues, and cybersecurity threats topping the list. As businesses increasingly digitize their processes, safeguarding system security, managing data privacy, and mitigating cyber threats are set to become key priorities in 2024. In addition to this, the dynamic landscape of regulations, laws, and jurisdictions will continue to pose challenges, making regulatory change management crucial for organizations.
Organizations today face the intricate task of adhering to a myriad of legal, administrative, certification, and customer criteria. Certifications in Quality Management (QMS, CMMI), Service Management (SMS), Security Management (ISMS), Business Continuity Management (BCMS), among others, are essential for many businesses. Navigating through the complexities of managing multiple compliances, certifications, internal and external audits, program health checks, management reporting, KPIs, balanced scorecards, risk management, issue management, communication coordination with stakeholders, and document management is a formidable challenge in itself.
Enterprises are increasingly turning to Governance, Risk, and Compliance (GRC) solutions to efficiently address these multifaceted requirements and alleviate the associated pain points. A comprehensive GRC solution effectively manages document control and addresses the diverse needs of organizations, ensuring compliance with legal, industry-specific, and internal standards. It should encompass various aspects, including Enterprise Risk, Operational Risk, Regulatory Compliance (ISO, NESA, GDPR, SOX), Cybersecurity Management, Audit Management, Internal Compliance Management, Vendor Management, and Quality Management.
Given the diversity in the complexity and maturity of GRC activities across different organizations, it becomes imperative to invest in a GRC platform with robust configurable capabilities. This adaptability is crucial to fulfilling GRC requirements for enterprises of varying sizes, complexities, locations, and industries.
Let’s look at some key benefits that underscore the significance of adopting a robust GRC framework:
- Efficient Program Management: Streamline risk and compliance initiatives seamlessly with a unified and flexible platform, ensuring effective control over diverse programs and requirements.
- Adherence to Corporate Standards: Enhance GRC effectiveness by upholding corporate rules and standards, fostering a culture of compliance throughout the organization.
- Integrated Data Management: Consolidate data from governance, risk, and compliance areas into a cohesive system, promoting better coordination and understanding across different facets of the organization.
- Informed Decision-Making: Enable superior reporting and analysis capabilities, empowering organizations to make well-informed and strategic decisions based on comprehensive insights and data.
In addressing the intricate landscape of governance, risk, and compliance, Intertec emerges as a comprehensive solution provider, seamlessly integrating document management and control with effective management of various compliance needs and pain points. Covering a spectrum of security and risk management standards, including ISO 27001, ISO 22301, PCI-DSS, HIPAA, SOX Compliance, and GDPR, Intertec ensures robust security measures for organizations. Moreover, its commitment to quality and service excellence is evident through adherence to ISO 9001, ISO 20000, and ITIL standards.
Customization extends beyond these standards to accommodate unique internal, client-specific, or national compliance requirements, showcasing Intertec’s adaptability. The implementation approach, spanning initiation, gap analysis, customization, setup, implementation, ongoing support, and advisory services, reflects Intertec’s dedication to a holistic GRC solution. With a remarkable ability to configure and set up the solution in as little as twelve weeks, Intertec empowers organizations to efficiently navigate the evolving landscape of governance, risk, and compliance.
Choosing Intertec, organizations not only gain a powerful GRC solution but also a partner committed to their unique needs and timelines. As businesses prepare to face the challenges of the future, Intertec stands ready to provide a swift, adaptable, and effective GRC solution that aligns with each organization’s long-term objectives. Explore how Intertec can transform your approach to GRC—schedule a consultation today.