SAP GRC (Governance, Risk Management and Compliance) solution enables organizations to manage regulations and compliance and remove any risk in managing operations.
Although interpreted differently in various organizations, GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance with applicable laws and regulations.
GRC are the three related aspects which help an organization achieve objectives, act with integrity and address uncertainty.
Governance is the sum of processes established and performed by the Director (or the Board of Directors) that are emulated in the organization’s structure and how it is managed towards achieving goals.
Risk Management is about forecasting, anticipating and managing risks that could conceal the organization from achieving its objectives under unpredictability.
Compliance is to confirm and follow company´s internal rules (company policies, procedures, etc) and external laws and regulations.
Even small businesses, nonprofits, and government agencies are facing issues that only large companies had to face in the past. For example:
SAP GRC is the solution to address these challenges
Finance, Procurement, Production, Sales