The term GRC, which stands for Governance, Risk, and Compliance, is a strategy for managing a company’s overall governance structure, enterprise risk management, and compliance with laws and regulations. GRC standardizes with a structured approach to align information security with your business goals and objectives and ensure your organization can effectively manage the overall risks and meet your organization’s compliance requirements.
A well-defined GRC strategy has many benefits, such as transparency, optimizing, and enhancing the decision-making process to meet the organization’s risk profile and business objectives. The GRC framework creates a shared understanding of the critical factors and risk tolerance.
Governance
Governance entails having an enterprise process to ensure the organization’s IT and information security activities align with its business objectives. With all the digital transformation in the internet era, your organization may need to refresh and update your current Governance as the speed of delivery accelerates exponentially to stay competitive. Without a comprehensive and updated Governance, your overall risk will increase, which will negatively impact your business operations.
Risk Management
Risk management ensures that the organization can identify, manage, and resolve all the risks are per its business goals. For IT and security functions, a comprehensive risk management process and framework ensures the implementation of suitable strategies and practices into the organizational fabric to improve responsiveness to emerging risks.
Compliance
Compliance is performed due diligence and has information on how the organization operates to meet the required laws and regulations for all the systems and data that the organization manages. A robust compliance framework puts appropriate security measures/controls based on the compliance requirements for the organization’s data and associated systems and their implementation from an information security perspective.
Anvays’s Governance, Risk, and Compliance Practice
Anvaya has a team of experienced professionals to help your organization navigate the overall Governance, Risk, and Compliance space. We can help you establish a Governance structure and Risk Management Framework and Identify your Compliance requirements and associated technical controls as appropriate to meet the business requirements. We can perform an audit and assess your current security controls to identify any misalignment with your compliance requirements business goals and provide guidance on mitigation strategies and recommendations to resolve the findings.
