Six challenges of governance, risk management, compliance

Press release issued by Predictive Communications, February 23rd, 2011.

Corporate governance, risk management, and regulatory compliance (GRC) are no longer the exclusive province of Sarbanes-Oxley. Powerful market forces – globalisation, increased mergers and acquisition activity, heightened regulatory scrutiny, tight operational budgets, and escalating environmental concerns – are all pushing your company to develop and implement a comprehensive GRC initiative to protect itself, while remaining agile and competitive.

Successful GRC initiatives demand an integrated and enterprise-wide view of risk and compliance. As a result, your business requires access to all its data, regardless of where it resides and the form it takes.

It must be available to users and applications when, where, and however needed. And your business needs to be confident that its data is available, complete, accurate, consistent, auditable, and secure.

Challenges

* Limited visibility and transparency. Your enterprise data is located in different systems and unconventional formats and unstructured files, such as PDFs and PowerPoint presentations. You need to increase visibility into and transparency of GRC activities across the enterprise, but you lack a comprehensive, cross-enterprise view of GRC-relevant information.

* Questionable data quality. You need to base GRC activities on reliable, high-quality data. But you’re unable to identify data quality issues that affect GRC-related reports. Fixing data quality errors, such as those caused by human error, database corruption, and system consolidations from past mergers and an acquisition is a cumbersome and time-consuming process. (continue reading… )

 

 

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