The 3 GRC priorities your business should have

Governance, Risk management, and Compliance or GRC services are at the center of any business’s operations nowadays. Companies have also started focusing on increasing resilience and agility after the recent turbulence caused by the pandemic. Today, consumers and stakeholders want to be part of companies that demonstrate the ability to navigate uncertainties no matter the risks and minimize or avoid risk events altogether.

Every organization today requires a real-time 360-degree situational awareness of risk within and outside its boundaries. This also extends to third-party relationships. In an increasingly digitally connected world, it becomes arduous to watch devices, machines, and networks that are part of the organization. It is equally baffling to decide which source to trust owing to the information overload. This blog attempts to cut through the noise and illuminate the importance of GRC services and how they can help you focus on the three GRC priorities your business should have.

Maintaining consistent integrity : As ESG or Environmental Social Governance gets increasingly crucial for numerous organizations, maintaining organizational integrity is one of the prime goals under the mandate. This means whether an organization sticks to its original commitments regarding internal policies, employee-employer behaviors, workplace practices, etc. GRC can help provide the necessary support, enabling the organization to align with these policies.

Updating policies with the changing landscape and times : Hybrid and remote working has become a global norm. As digital connections increase, so does the expansion of attack surfaces and the frequency of cyber vulnerabilities. As a result, organizations must continuously monitor and manage IT security, physical security, conduct (e.g., video conferencing), moonlighting, Occupational Safety and Health Administration (OSHA), third-party risks, etc. Hiring cybersecurity professionals can help them put effective GRC strategies in place, paving the way to analyzing, generating insights, and taking necessary actions wherever required.

Prioritize cybersecurity to improve agility and resilience : Organizations must also be prompt with bringing new policies and modifying the old ones that need to be addressed for hybrid and remote work environments. GRC helps effectively tackle such challenges wherein it safeguards critical business information and prevents human errors (phishing, espionage, honeytrap, etc.) from leading to catastrophic events. Integrating the GRC strategy that delivers a 360-degree risk assessment to help organizations thrive in remote and hybrid environments is the need of the hour.

GRC tools can help improve visibility over the business from aerial to the individual level andfacilitate easier implementations of worldwide data and cybersecurity policies.In addition, they can allow live tracking, monitoring, and reporting to make the organization faster, better, and bigger.

It’s high time organizations started considering deploying professional cybersecurity services that can help them efficiently and effectively address integrity, policies in the hybrid environment, and information security. Investing in GRC solutions can help businesses perform well with better knowledge and control. It can also help them secure long-term growth while seamlessly aligning cybersecurity with their company goals in a smarter way.