Risk is a natural part of the business landscape.
If left unmanaged, the uncertainty can spread like weeds.
IT GRC is an abbreviation for three words that represent the essence of sound and proven business practices. Many companies believe they are too small to implement an IT GRC program, but whether you are public or private, large or small, there are significant options and advantages.
IT GRC allows you to take control of your business and secure and monitor business processes that are unsecured today, assess risk before it's too late, and comply with regulated industries. According to Gartner, IT GRC is 80% people and process and 20% technology.
- IT Governance
- Risk Management
- Governance manages the strategic directives a company wants to follow. It is comprised of the leadership and organizational structures and processes that ensure that the organization’s information technology sustains and extends the organization strategies and objectives effectively.
- By defining an IT Governance model, your organization can increase insight into IT activities and prevent the lack of planning that plagues enterprise IT departments.
- TLCG can help you shape your IT agenda, and formulate and implement a strategy that will align your IT department with the mission and objectives of your organization.
- Risk is a reality and is present in nearly every industry, geography, and business process. The amount of risk may increase or decrease, but never vanishes. Risk management assesses the areas of exposure and potential impacts.
- Enacting a formal risk management strategy will enable your organization to become more resilient and risk tolerant. It will allow your organization to identify risks, measure and monitor risks, quantify risks, and report risks, thus giving decision makers the information they need to manage and mitigate risk more effectively.
- In the end, the right risk management strategy can increase bottom lines, improve regulatory responsiveness, and extend your competitive advantage.
- Compliance is the tactical action to mitigate risk. It is the process that records and monitors the policies, procedures, and controls needed to enable compliance with legislative or industry mandates as well as internal policies.