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4 Critical Reasons Why You Should Stop Using Spreadsheets for Your Governance, Risk and Compliance
Like many business processes, governance, risk and compliance (GRC) often ends up being recorded and managed in spreadsheets.
Manual documentation like this may have worked when your business was smaller or you had less compliance to worry about.
However, with the changing regulatory landscape, you might start to struggle – especially when the consequences to your business of non-compliance can be pretty severe.
Therefore, it’s worth moving your GRC to a dedicated compliance management software. Here’s why.
Leave the Spreadsheets Behind
Save Time
While spreadsheets appear to be a free tool for managing compliance, they do come with hidden costs.
One of these is time.
Manually documenting your compliance, ticking boxes and maintaining up to date records is a time-consuming task.
Shifting to a compliance management software like Fortress will easily automate and streamline your GRC processes, so your team can focus on business growth.
Reduce Mistakes
Thanks to human error, manual documentation and mistakes tend to go hand in hand.
Therefore, the more you can automate processes, the better – particularly when it comes to GRC, as these mistakes can be costly.
Easy to Audit
Speaking of mistakes, when was the last time you audited your GRC?
Chasing down paper trails, shifting through documents, or cycling through different versions of the same spreadsheet is no one’s idea of fun.
If you had everything you need all in one place, with full traceability, then it would so much easier.
This is one of the foundations of compliance management tools like Fortress. A single, central repository that pulls in all your GRC data and information, and collates it together, so that it is easy to navigate.
Reduce Complexity
GRC is a pretty complex area for most businesses.
And, as highlighted by the new laws coming into effect this year, the compliance that businesses have to abide by is only increasing. It’s not going to be possible to manage it all using spreadsheets.
So, having this one source of all your GRC information, which is presented in a format that is easy to understand and view, is a must.
Manage GRC Into the Future
Meeting your GRC isn’t a one-off event. You have to stay compliant going forward, and this requires consistency, long-term investment and upkeep.
The first step is developing the right processes, rules and actions, followed by reporting and feedback.
This is hard to do manually and even harder to maintain over time.
And, using compliance management software in your business also assists with fixing business processes, foreseeing future problems, and reducing the frequency and complexity of risk events.
In short, it sets you up for the future – whatever it holds!
Automating Your Risk and Compliance Management
SAS IT can help you simplify and automate your compliance – transforming your business and allowing you to focus on growing your business and not ticking boxes.
Get in touch to start the conversation.
