Picking your GRC Tool — Part 2

Challenges, Implementation, Maturity

Why is GRC important?

GRC tool is a huge commitment from the organization. It is not as simple as plug-and-play. Implementation takes skills, time, resources, collaboration, and patience. You must put together the project plan along with phases and measurable milestones. If the implementation is done right, this will help businesses — 1) know their compliance status on security controls 2) control maturity 3) provide visibility on the risks appetite 4) manage policies and procedures 5) manage third-party risks, and many others.

What's your business use case for GRC implementation?

Every organization is different. GRC tool helps all sizes and natures of the business. An example — 1) You may be managing your policies and procedures on local machines or google drive and it takes long instructions to follow to review, collaborate, approve, and publish it. 2) You may be doing the audits, and control evaluations in an excel file and storing all the pieces of evidence in a google drive. 3) Conducting manual control mapping against various frameworks in an excel file. 4) Performing annual risk assessment and treatment exercises in an excel file. There are several business use cases for GRC implementation. Some of them are-