The consequences of non-compliance are just starting to become a harsh reality for some businesses.
With Easy Jet being one of the latest to be fined £180 million last year for a data breach, organizations simply can not go on without a robust data security governance and risk management framework.
Busy executives know that juggling risk strategies, regulations, and governance can hinder a business’s ability to operate effectively. However, these elements are vital for an organization to conduct business in the information age.
Governance, Risk, and Compliance (GRC) is a coordinated approach in information technology that aims to align business objectives, risk mitigation, and compliance efforts. Without the synergy of GRC, an organization can accumulate financial losses, severe risks, and inefficiency problems.
Work-from-home mandates have accelerated an already growing trend toward mobile, remote working solutions. This extended the office and all cybersecurity concerns into the home or other networks. Companies now have less visibility and control, creating complex issues for information technology (IT) governance, risk, and compliance (GRC).
Some businesses must comply with regulatory frameworks for legality. Your current and potential clients may also expect it. One of the most effective approaches companies take to fulfill their compliance obligations is integrating governance, risk, and compliance into a unified “GRC platform.