How new, holistic GRC solutions are replacing the piecemeal approach.
In today’s ever-changing business climate, the only constants are intense global competition, tighter margins and increasing regulatory requirements. Meanwhile, the future promises to bring greater pressure – and with it, greater risk.
Companies are preparing for new challenges by devoting more time and resources to managing strategic planning and business risks. But few have adopted an integrated approach to governance, risk management and compliance (GRC). Motivated by fear rather than strategy, companies often take a piecemeal approach; they implement fragmented, one-off processes that prevent regulatory fines in the short term but compound risk and compliance costs in the long run. Without a unified GRC strategy across the enterprise, your organization may needlessly duplicate effort, repeat costly mistakes and leave itself vulnerable to emerging global risks.
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