Predictability is the degree to which a correct prediction or forecast of a system's state can be made either qualitatively or quantitatively – at least that’s what Wikipedia says. The truth of the matter is that we live in an increasingly unpredictable world, where, unless you’re a new found Nostradamus, chances are that at one time or another you would have encountered a situation where change has reared its dynamic head and things haven’t unfolded exactly as you thought they would… I can almost guarantee that! And of course, after the fact, out jumps hindsight with his 20/20 vision asking why you didn't see it coming?!
We all know the realities of the global business environment – it’s frenetic, complex, and full of risk. For an entity to achieve longevity in the face of heightened competition, stifling regulatory prescriptions, and smartening threats, it needs to do more of the right things than the wrongs one. And that’s an equation easier said than done. So when organizations stare down the challenge of how to optimize utilization of resources, how to minimize and where possible “opportunize” risk, and how to create sustainable value in the long term, it’s no surprise that they come off looking a little cross-eyed! But sometimes the tenets of the solution are right in front of them and all they need to do is figure out how to piece them together…
Take Governance, Risk and Compliance. Organizations today still spend a whole lot of time thinking in narrow gauge mode or too insularly. Let’s beef up our Governance, we will instruct the CEO says the Board. Or let’s beef up our risk management, I will instruct the CFO says the CEO. Or even let’s beef up our Compliance, I will instruct the CIO or presiding Audit Officer says the CFO. Really? Haven’t we reached a point where ultimate and efficient enterprise problem solving is delivered through effective integration and collaboration, to not only craft solutions, but to achieve synergies far beyond the silo walls of yesterday to meet the demands of tomorrow? Resoundingly, yes, we have!
Actively managing GRC in the organization of today requires constant, consistent alignment and measurement of people, process, and technologies – from strategic right the way down to operational levels. GRC facets and activities span the length and breadth of the organization, from corporate policies and procedures for Governance, mitigating and managing negative threats and positive opportunities for Risk, to adherence to external regulations and laws for Compliance. I don’t like to say anything’s impossible, but you try and manage that in a bunch of silos and see how far you get! We’re in the age of information and technology, and using IT to manage the various Governance, Risk and Compliance components of an organization, as well as ensuring proper governance, risk and compliance management of all IT systems which support the business operations – is not just a maybe, it’s a necessity.
IT GRC is not simply about creating interfaces between the walls and halls of tunnel-vision departments focused on their pocket or piece of the GRC pie, its more than that. IT GRC is about building a holistic solution for your enterprise’s GRC requirements by integrating all the mission-critical governance, risk and compliance processes across you organization into a sleek and streamlined whole, and enabling your business to meet all of its internal and external stakeholder and shareholder needs every time. But there’s even more than that still, it’s not only about those needs, IT GRC takes it one step further. By implementing a unified IT GRC solution within the contemporary organization, enterprises are empowered to realise synergies far exceeding the tick in the boxes.
Look for the word Synergrate in the dictionary and you won’t find it. It may have been used before, but for this case, I made it up. But when it comes to IT GRC, separating fact from fiction is easy. IT GRC unquestionably provides a powerful platform of integration and synergy, far outperforming any disparate mish mash of isolated GRC activities, and one that that can help launch your organization to the next level of GRC, and beyond. Extending passed the vertical of satisfying typical GRC conscripts more effectively and efficiently, IT GRC can change your organization from reactive to proactive, replace static reporting with real-time intelligence for active decision making, drive competitive differentiation, advance cost reduction and reduce liabilities, and provide new opportunities for revenue growth… to mention just a few. Perhaps we already have the makings of a definition for the Oxford Dictionary.
Change in our world, your world, is the only constant. Nobody wants their organization or their competitors to go up in smoke, nobody wants a repeat of the organizational failures which scarred the last 15 years around the globe. It may be a battlefield, but there are new guidelines, new treaties, new mandates. It can’t only be about winning at all costs, in the new 21C it’s also about how you play the game. We may not be able to predict the future, but some things we know for sure. The importance of and value derived from (good) Governance will continue to increase, the potential damage from negative risks and opportunities from positive risks will leapfrog exponentially, and the depth, breadth and complexity of the regulatory environment will become more entrenched and ‘everyday’. Decision making is not going to be a walk in the park, but having IT GRC in your stable, may not only make choosing and doing the right things a little easier, but give you that something extra – Synergrate – where integration is just the beginning.