GRC-Management pays off - before you know it!
Governance, Risk and Compliance commonly known as GRC - is a system of processes and procedures that help companies achieve their business goals, manage uncertainty and integrate sustainable business practices into everyday operations.
GRC today encompasses several disciplines, including Integrated Risk Management (=Enterprise Risk Management), Compliance, Third Party Risk Management, Internal Audit and more. Although all of these disciplines have their own areas of focus, it is necessary for GRC experts to bring these strands together, improve the sharing of information, and ultimately build a more resilient and successful enterprise through this integration.
Our methods of analysis, identification, evaluation and reporting use the latest technologies and scientific calculation models. This situation makes it all the more crucial to maintain an overview within the company.
Optimal GRC aligns a company's entire risk policy with the right objectives, measures and controls to promote corporate success. Risks must no longer be seen as an evil, but as an instrument that can be used strategically to create new value and improve performance.
Why is GRC-Management so important?
Corporate Governance
Corporate governance refers to the way in which companies are managed and for what purpose. It defines who has power, who is accountable and who makes decisions.
It is a set of tools that enables management and the board to deal more effectively with the challenges of running a company.
Corporate governance ensures that companies have appropriate decision-making processes and controls so that the interests of all stakeholders (shareholders, employees, suppliers, customers, and the community) are balanced.
It addresses practices and procedures to ensure that a company is managed to achieve its objectives while ensuring that stakeholders are confident that their trust in the company is well founded.
Balanced GRC work must be both economical and comprehensive to enable a company to place its investments in a targeted and clear manner to secure its advantage.
Integrated Risk Management
Comprehensive risk management pays off quickly because it "cleans up", frees up money in the right places and helps to reduce costs in the long term.
It makes plants safer, increases their service life, improves production quality, counteracts dependencies, cushions risks, strengthens the site and jobs, guarantees profitability even in challenging times, and subsequently secures the budget for the coming years.
An holistic and company-wide risk management (Integrated Risk Management = IRM) is therefore a positive spiral that makes a company more resilient with every push.
Prerequisite: A company's risk landscape actually contains its entire risk potential of insurable and non-insurable risks, including risk assessment, economic management, and ongoing monitoring.
A systematic and sustainable compliance system includes, on the one hand, the monitoring of internal company processes and, on the other hand, a set of precautionary measures such as the education, information and training of employees.
Violations of laws as well as illegal and non-conforming behavior in relation to the corporate value system can have far-reaching consequences, such as high fines, claims for damages, loss of reputation or profit skimming.
Corporate Compliance
Compliance means first and foremost a company's adherence to all legal requirements. In addition, however, "compliance" also includes the creation of organizational precautions in the company to ensure adherence to legal and company-specific guidelines. Compliance thus describes a binding and unambiguous set of rules that affects all employees.
A systematic and sustainable compliance system includes, on the one hand, the monitoring of internal company processes and, on the other hand, a set of precautionary measures such as the education, information and training of employees.
Violations of laws as well as illegal and non-conforming behavior in relation to the corporate value system can have far-reaching consequences, such as high fines, claims for damages, loss of reputation or profit skimming.
What does GRC consulting from risk on mind offer?®?
We create more value instead of more effort. Guaranteed! Because our comprehensive services save time, money and nerves in the long term.
