In an increasingly dynamic and globalized business environment, economies and enterprises are becoming steadily interrelated. eGRC stands for Enterprise Governance, Risk Management and Compliance which is similar to GRC. eGRC refers to how an enterprise addresses governance, manages risk and compliance by creating policies, procedures, regulatory controls, risk assessment, risk monitoring and internal controls that employees must adhere to company-wide. It is a management system for compliance requisitions, policies, risk assessment, and remediation tracking, covering multiple domains. Particularly, it facilitates the entry, collection, transfer, storage, tracking, and reporting of operational losses, gains, recoveries, and key risk indicators (KRIs) that are drawn from multiple locations across an organization.
Enterprise GRC can also be used to do the following:

• • Conduct audits
  • Manage policies
  • Conduct risk and control assessments
  • Assess scenarios
  • Test controls
  • Investigate incidents
  • Create and track issues and develop action plans

Each of these activities can be tied to other activities in the system. Therefore, Enterprise GRC provides an integrated and centralized framework for collecting, managing, and storing GRC information. The Four key areas within an organization are most directly involved in eGRC. They include IT, Finance, Operations and legal.

An eGRC is a strategy, supported by a common technology platform that creates consistency and transparency, enables collaboration, fosters operational efficiency and ensures the continuity and success of the business. The advent of eGRC as a strategy for protecting the enterprise from needless risk while eliminating barriers to growth is the result of a number of factors including demands on corporate governance, multifaceted risk environment, growing regulatory requirements & disappearing frontiers in the overextended enterprise.

It is not the collection of solutions to address the same old problems. Rather, it is an innovative and multifaceted approach to a new paradigm where risk management and compliance issues are seen not as isolated concerns but as closely related strategic initiatives with a direct impact on business objectives. These Concerns, therefore, require the attention and influence of governance which ultimately is responsible for business growth and performance.

How eGRC and GRC concurrently benefit organizations?

• • GRC and eGRC assist organizations manage risk across an enterprise and prepare safeguards those against risks.
  • GRC and eGRC result in streamlined operations and systemize workflows.
  • GRC and eGRC safeguards a company against regulatory scrutiny and errors.
  • GRC and eGRC ensure that controls and systems are in place so data is compatible across the enterprise.

VComply provides a solution of Enterprise Governance Risk & Compliance or in short eGRC which revolutionizes the way enterprises manage their Governance, risk & compliance.

VComply’s eGRC establishes efficient & effective governance with a substantial framework and follows Entrust-Verify-Analyze-Sustain (E.V.A.S) principle for all your regulatory and internal compliances.

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