Benefits Of GRC Solution

The benefits of GRC solution reporting are usually described as visibility. The concrete version is that you stop keeping the same information in several different places.

In most organisations the same risk appears three times. Once in the operational risk register a manager keeps. Once in the compliance obligations list. Once in the board paper, written from memory the week before the meeting. Nobody reconciles them, and when they disagree nobody knows which is right.

A single register with one owner per risk, one control set and one review date removes the reconciliation entirely. It also makes gaps visible, because a risk with no control and no owner is obvious in a sorted list and invisible when it is spread across three separate documents that nobody reads side by side.

The ASIC publishes governance guidance. This is general information rather than legal advice, and obligations vary by state and territory.

See Sentrient’s GRC system and risk management system.