“In the wake of several well-publicized corporate scandals about 15 years ago – Enron and WorldCom, to name two – and the passage of the Sarbanes-Oxley Act in 2002, organizations that must adhere to regulations for data security, financial accountability and consumer privacy can’t do without someone making sure internal processes are being carried out properly. Enter the need for competent governance, risk and compliance (GRC) professionals.” -Kim Lindros and Ed Tittel, CIO
A recent article by Henner Schliebs highlighted the discrepancies between the priorities of top executives in governance, risk, and compliance (GRC) and the actual operations of their organizations. Only 1 in 10 out of over 1000 surveyed in research conducted by SAP with Loudhouse Research were satisfied with the GRC policies and enforcement that were in place. The same percentage thought that GRC was integrated across the organization with managers sharing a balanced view and looking at common metrics across all projects and procedures, which means over 900 organizations did not have GRC embedded!
This puts these organizations at severe risks during audits and reviews by their regulatory agencies and the penalties are severe, including financial and criminal penalties and the loss of public confidence in the operations of these organizations. Yet, over 65% of the respondents couldn’t quantify or qualify their current risk exposure.
Risk Compliance Culture
This certainly warrants a hard look at the risk compliance culture within your own organization and finding a better way to ensure these risks are known, managed, and controlled. Greenlight Technologies offers a solution for you; as both a pioneer and a leader in real-time controls that monitor and manage risk and compliance processes on user access and transaction activity. Greenlight has the end-to-end ability to manage regulatory compliance in all enterprise applications whether on-site, hosted, or in the cloud.
Solutions include Access Violation Management (AVM), Regulation Management, and Enterprise Integration Solutions for SAP GRC, as well as others. A Cyber Threat Management solution will address the evolving and increasing risk of cyber attacks and stealing of data; including positioning your company with a strong cyber governance protocol. Some of our partners in system integration and consulting include leading firms as Accenture, PWC, Ernst & Young, KPMG, and Deloitte while our technology partners include SAP, CA Technologies, and Oracle.
Contact us today and get confidence back in your GRC!
Greenlight Technologies. Enterprise Solutions. Beyond Boundaries.