5 Reasons to put ERM Tools on your GRC shortlist

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Information about 5 Reasons to put ERM Tools on your GRC shortlist
Leadership & Management

Published on March 31, 2014

Author: agranovb

Source: slideshare.net

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If you’re considering automating your governance, risk, and compliance (GRC) program there are dozens of choices out there and choosing the one that’s best for your program can be challenging.

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist Best Content from GlobalRisk Community

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com If you’re considering automating your governance, risk, and compliance (GRC) program there are dozens of choices out there and choosing the one that’s best for your program can be challenging. To help you separate tools that have simply jumped on the buzzword bandwagon from tools that will help you deliver business value, here’s a list of five must have features required to support your GRC or ERM program. 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky Is GRC and risk management tied to strategic goals? Senior management is concerned with where your organization is going. Without a connection between risk and strategic objectives, you’re executive team is unlikely to make risk or compliance initiatives a priority.

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky Does it directly link activities to business performance?  While it’s good to be in compliance and have some risks covered, your risk and compliance program should be aligned with operational goals.  This means using metrics and controls that can actionably improve business performance, not just meet requirements or checking off a box.

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky Does it drill down to the process level? Every day your front-line managers are making decisions about risk. Does this software give you transparency into these decisions and will your process-level managers be able to use it?

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky Is information shared across business silos?  Meeting several compliance standards often requires the collection of similar data.  Does this software allow information to be collected once and then be reused across silos and functions to prevent double-work?

WEBSITE: http://globalriskcommunity.com/ EMAIL: info@globalriskconsult.com 5 Reasons to put ERM Tools on your GRC shortlist by Steven Minsky Does it use SMART business metrics? S.M.A.R.T. business metrics are built at the process level, around root- causes, are comparable, and are forward looking to give you the most complete picture of your risk and compliance program.

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