GRC Technology Introduction

Abstract

This chapter provides a high-level introduction to the concept, history and current state of Governance, Risk and Compliance (GRC) from several different standpoints. GRC scope of coverage is defined and the comparison between vendors originated from enterprise resource planning (ERP), GRC, and specialized applications is explained so that readers may understand differences and similarities. A detailed description of the GRC program overview is provided, outlining the associated process and nature and importance of integration. Common GRC technology functionality including assessment process, business hierarchy, workflow, and analytics and reporting is described in the chapter. Finally, common business cases and additional drivers for GRC automation are used to drive process efficiencies and address increasing regulatory compliance mandates.

The view expressed in this paper represents the personal opinion of authors and not those of their current and previous employers.