Need to take your GRC maturity model to the next level?

It’s important to remember that GRC maturity models are a journey, not a destination, and your organization’s path might look very different from other companies in your industry. GRC maturity models require steady advancements in leadership collaboration, process efficiencies, and technology enablement that can allow you to strengthen the maturity of risk and compliance programs. Organizations take various approaches along a spectrum when trying to ascertain their own strengths and weaknesses. They usually begin in a reactive and anticipatory stance, but then mature into collaboration and orchestration. Which approach might characterize where your organization lies?

1. Reaction. The reactive, ad hoc approach involves a “get-it-done” attitude with individualized processes and point solutions that address specific needs but aren’t comprehensive or part of a broader strategy. As a result, GRC teams and stakeholders often find themselves working in isolation with their risk and compliance efforts.


2. Anticipation. With this approach, GRC programs can gain efficiencies, automate processes, and identify connections between teams and departments. A GRC software platform might be used in pockets but not as a strategic tool to manage risk. Most companies find themselves in this place.


3. Collaboration. The collaborative approach involves GRC teams working together to identify and manage risks and to help business stakeholders prioritize mitigation activities. With this approach, organizations can incorporate processes and technologies to make their GRC programs more consistent and efficient.
   
   Many companies find it difficult to advance to true collaboration. This approach requires leadership across risk and compliance programs to be open to collaboration while managing and monitoring risks in their unique risk domain.


4. Orchestration. This approach integrates risk management processes and aligns GRC objectives with business strategy. You will use a centralized GRC software solution to continually monitor risks through automation and provide increased visibility into risk exposure and business performance.
   
   You might think it’s impossible for your GRC program to even reach the level of orchestration. But by combining impactful risk management strategies with leading technology solutions, you can reach levels of GRC maturity that you never expected, and that’s where Crowe can help.

We created the Crowe Risk Intelligence Suite to help you improve the maturity of your GRC program with a library of industry-leading risks that can be monitored throughout your business. This suite builds on the strengths of traditional GRC tools with three fundamental features:

1. A best-practice content library of risks, key risk indicators, key performance indicators, and mitigation plans covering privacy, cybersecurity, and third-party risk management
2. A turn-key system integration framework to retrieve data from your key business systems to analyze data and convert into quantifiable risk and performance metrics
3. A risk quantification tool that measures the potential economic impact related to privacy, cybersecurity, and third-party risks