The systems that a business has in place could well reflect the way things have been done over time; the chance is that the systems have grown with the business and may be a bundle of information sources that, objectively, are disjointed and potentially not providing maximum efficiency. Do your business systems provide satisfactory management reporting tools, do they assist in identifying and measuring areas of risk?
Legacy systems may be ‘comfortable’ albeit sometimes frustrating and maybe time consuming when it comes to pulling together all the information that is regularly required for Board and management purposes. And, of course, there is the cost of change and the implementation of change to consider. Replacing a bundle of disjointed systems with one controlled electronic solution not only has the potential to make better use of human resources it is also a way to implement specific controls, get good information to the right desk at the right time and overall improve business performance (not forgetting the bottom line) at the same time Simplifying GRC.
If your business could benefit from a more in depth view of simplifying GRC management please contact us on 1300 602 880 or via our website.