GRC solutions and tools are designed to enable security leaders to achieve critical objectives to protect their organizations and manage risk.
Governance is the process through which executive management directs and manages the enterprise at scale using a combination of hierarchy and policies. Corporate governance is designed to ensure that senior management has the necessary and most current information to effectively make decisions and inform company strategy.
Risk Management is the process of quantifying, evaluating, and prioritizing potential risks to an organization based on their entire operation as a whole. Proper risk management practices require that an organization uses coordinated and fiscally responsible choices to utilize resources in a way that minimizes, monitors, and controls the potential consequences of events that can have negative consequences for a business.
Compliance is the rules of the market, government or industry in which the organization operates. This is beneficial to ensuring continuity between organizations in the same field and ensures a safe equal playing field for consumers and companies associated with an organization. In the case of cybersecurity, regulations are designed to ensure that consumers can operate with an expected degree of trust in the organization that their data is safe from theft.
While these individual applications may have been sufficient to run business processes in the past, it simply leaves too many gaps to supplement the operations of an organization in today’s landscape. The components that make up GRC programs do not communicate across each other and contain tools that act independently instead of in unison.
See an in-depth overview of what is GRC technology