The piecemeal approach to governance, risk and compliance (GRC) is beginning to catch up with many companies. Where it was once easier to respond to corporate and social responsibility issues as they arose, higher levels of scrutiny and global competitive environments have made this fragmented route less effective and more expensive.
Companies committed to gaining stakeholder trust, as well as better planning and decision making are, instead, taking an integrated approach to the related issues of governance, risk management, and compliance (GRC). The approach comprises of people, processes, corporate culture, and especially systems. Technology provides affordable mechanisms for information sharing that can scale globally.
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