BPM led GRC enables enterprises to comply with internal and/or external regulations. It helps define controls within critical processes and providing solutions to prove the effectiveness of implemented controls (control testing). It also helps make use of already defined/mapped processes.
Businesses have to comply with internal and/or external regulations such as a requirement to provide evidence of effective controls. How do organisations evaluate the risks on a regular basis (qualitative and quantitative evaluations) and report their current status (i.e. dashboards and analytics.)
Simply mapping your processes and controls (most likely in a PowerPoint document or spreadsheet) are not sufficient for this evidence as the effectiveness and currency of these artefacts is not guaranteed.
Enterprises without a supporting GRC BPM framework and supporting system rely on spreadsheets and manual handling which greatly increases the risk to the business of non-compliance.
Organisations want to understand their current risk exposure - and have this information readily accessibly and updated. They need to ensure that laws/regulations to be followed are made visible and are being followed while tracking track remediation measures and updates to risks / related controls in an audit-proof application.
Implementing a GRC BPM tool based on existing processes supports communication of required activities and also ensures efficient handling/documentation helps which minimise this risk.
This enables the enterprise to automate compliance-related processes, audit the proof evidence of effective controls, utilise existing processes to become more efficient and compliant at the same time and ensure conformance with relevant regulations.
Leonardo’s expertise can help you: