Developing GRC Risk Management Strategies

The main function of a GRC implementation (Governance, Risk and Compliance) is to control and monitor your business processes and to prevent instances of fraud and negligence occurring.

In today’s unstable markets there are stringent rules and regulations in place to control corporate responsibility and accountability and to ensure transparency with financial reporting.

In recent times there have been numerous documented cases of fraud and gross negligence within a big business (The Enron scandal, and The Bearings bank collapse to name but two).

Because of this, there have been regulations put in place to prevent this from happening in future (Sarbanes Oxley Act, Basel iii and many others), both industry and government regulated. If these rules and regulations do not adhere to, the consequences can be harsh, with businesses fined millions of dollars for breaches, be they intentional or accidental.

Adding to the above issues there is the security aspect to GRC implementations that is primarily concerned with access control and risk management.

Having a security system in place is of utmost importance and although taking risks in business is what separates the successful from the failures there is no excuse for being blasé about your internal controls.

How Do We Do It?

As with any successful sap consulting firm JNC implements GRC projects based upon tried and tested best practices but we do not simply follow the herd, we also offer the added value of the experience of countless implementations.

We use a proven methodology to assess and execute our projects. We pride ourselves on developing bespoke rulesets symmetrical to the monitored child systems within the landscapes.

This ensures accurate monitoring and controlling whilst considering other factors such as budget, time constraints and the specific needs of the client including their specific industry sector.

Most issues any organization is faced with can with a degree of certainty be traced back to a lack of adherence to internal controls. These controls are the cornerstone of good governance and in the case of key business processes having in place, a strong set of internal controls can help identify and mitigate possible risks.

For more information about our GRC solutions and implementations and to learn how we can help your business:

Let’s talk about SAP®

Start with a free high-level consultation to help you clearly understand the costs and benefits of fully leveraging SAP® for your company.

Subscribe to our latest news

Privacy Policy

Click Me