Making the most of your GRC Investment
The first and foremost thing is to understand what is the problem we are trying to solve. If it is just a change in policy or framework, there are other options as well.
Secondly, GRC is one of the pillars of any organization and it is important that we ensure that it percolates to every nook and corner in the organization. We cannot have a successful project unless we get a buy in from all the stakeholders.
Thirdly, the project should be flexible enough to cater to the ever changing legislations . The investment is costly and hence too many throwaways become an overhead.
Fourthly, technology is the least important thing. If we get the people and processes right, 90% of the project is done.
Finally do not copy blindly from any organization. Each organization has its own unique GRC needs and it is imperative that we take care of this aspect.
Oracle provides a comprehensive solution around its GRC Suite of products and companies need to evaluate the options very carefully before deciding on the solution.
