IT GRC purports and delivers a unifying platform for the delivery of the enterprise’s full portfolio of governance, risk and compliance processes and projects. By providing a consolidated, single-view across the organization, it has been able to fill the gaps left by entrenched silo based efforts of enterprises to realize their GRC goals. Mike Lane's new paper offers his thoughts as to why IT GRC gives an organization just the competitive edge it needs on the never-ending quest for sustainable value creation. In his own words; IT GRC - why wouldn’t you want to unify?
There may be no such thing as the ‘Perfect Storm’, but when looking back over the last decade or so one can argue that the severity and number of adverse Enterprise events and factors which unfolded on a global basis more than warrant consideration for being branded with such a title. Call it what you will, but from the start of the new millennium when Enron collapsed and crashed, the world entered a period of unprecedented corporate and later governmental crises that not only left indelible memories, but embedded wounds that are still healing today and changed the game forever.
From the United States of America’s Levin-Coburn, to South Africa’s King III to the United Kingdom’s Cadburys, a range of reports surfaced detailing root causes, and offering counter-measures and solutions to avoid and prevent a repeat of what had happened previously. The analyses were intense and unforgiving, the identified failures deep and wide, and the prognosis was to adopt transformational change or ascend into perennial chaos, recession and depression. Indeed, the outlook alone was incentivization enough to catalyze sweeping reforms focused not only on regression but assuring progression to a brighter future than ever before.
Out of the fire new micro, macro and market environment demands emerged, fueled by the shortcomings of the recent past, and necessitating organizations to operate on a new playing field. Enterprises were not just to be challenged to transform practices and cultures, but were to be mandated to do the right things, to make the right decisions, and to follow a path of sustainable value creation. What better place to start than with the status quo.
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