Whether they’re large, small, or somewhere in between, organizations and the systems that power them are complex. Their digital infrastructures have too many endpoints to protect without automation, and its nearly impossible to handle governance, risk, and compliance (GRC) effectively or efficiently using manual methods. This is why so many businesses are now relying on technology to manage GRC at scale.
But technology isn’t a solution in and of itself. The technology you select—and how you use it—has a tremendous impact on GRC outcomes. To make the most of your GRC technology, you need a solid strategy backing it up. This guide will help you and your team create a strong GRC technology plan as the backbone of your risk management and compliance efforts.
1. Assess the state of your current GRC efforts
Before selecting a GRC platform, you need to assess your current GRC roadmap. What framework are you following? Does it have any gaps?
The goal is to choose GRC technology that removes those blind spots, but you can’t do that without first identifying where the gaps exist. For example, if a team is repeatedly dropping the ball when passing GRC tasks between departments, that’s a pain point that your GRC technology should be able to solve.
Knowing where things are breaking down in your process ensures that you’ll keep those trouble spots front-of-mind as you evaluate GRC tech solutions, and help you pick one that fixes real problems facing your business.
2. Define what success looks like