Using Governance, Risk and Compliance to Add Value to Your Organisation

Governance, risk and compliance (GRC) is not something businesses tend to get excited about.

GRC has long been viewed as expensive. It doesn’t add to the bottom line, needs expensive specialist people, and involves regulators, lawyers and auditors.

As Michael Gibbs, Chief Executive of GRC specialists, SureStep, says, “you do it because you have to.”

However, companies have embraced the notion that an effective GRC program can do more than just save you from getting fined or sued. It also doesn’t have to be expensive or involve specialist people.

Most importantly, though, it can add value to your organisation.

Getting Ahead of Your Competitors

As Michael puts it, “black holes are hard to see.” Your organisation likely isn’t aware of where the issues and risks are in the business.

So, implementing “a properly managed GRC program will shine a light on problem areas in your organisation.”

You’ll be able to find inefficiencies and areas generating frequent waste, losses or incidents and properly evaluate risks to your business and potentially avoid future pain.

In short, “the fundamental idea of a GRC program is that it is going to help you find the holes in your operation.”

Not only can this save you a lot of money, but it will also put you ahead of your competitors because you will be able to plug these holes. Your business will be more efficient and have more oversight.

“GRC is something that will help your business run better.”

Investors Love GRC

GRC also makes your organisation more attractive for investors.

If you’ve got a solid GRC program, “you can prove that you understand your business risks, are incompliance and have effective controls in place,” says Michael.

Investors will choose companies with GRC programs over those without them and stay involved long-term.

The simple reason is that investors don't want risks. Your GRC program will make your business seem more attractive and secure to lend money to. The same goes for if you’re looking to secure a loan from your bank.

And, attracting the right investment can add significant value and pay off your GRC program many times over.

Regulators Are Friends…

…not food. While there can be a perception in the market that regulators are out to get you, they’re not.

“They are in place because someone in your industry did something bad, and they need to protect the public from being harmed in the same way again,” says Michael.

They are targeting your industry and not you. It’s not personal!

And, they do care about intent – “if you work with them, they will work with you back.” They are thereto help. “They want you to get it right.”

The best way to show that intent? Is to have a really good GRC program.

Enabling Technology

Technology has made setting up and managing your GRC program easy. There’s no need for paper forms or spreadsheets.

Based on the marketing-leading IBM OpenPages, Fortress has been designed by SureStep for SMBs and mid-market businesses.

Managing risk, regulatory changes and challenges with ease, it is delivered to the Australasian market by SAS IT in partnership with SureStep.

Integrated with the latest regulations and support from trusted legal experts and targeting regulatory compliance for workplace health and safety regulations, Fortress can be up and running very quickly.

As Michael says, “GRC is all about turning you into a good business. Fortress helps you do that. It’s a fully automated system with all the reporting you ever need for an auditor.”

Add Value with GRC

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.

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