GRC
Governance, Risk, and Compliance or "GRC" is an increasingly recognized term that reflects a new way organizations focus on and manage an integrated approach to these three areas.
Typically GRC solutions are Enterprise Software that enables businesses to comply with legal requirements. Examples for such requirements are regulation like the Sarbanes-Oxley Act, Basel II and local requirements for occupational health and safety. Failure to meet these standards can lead to severe legal penalties or civil liability.
Initial interest in GRC was driven by the Sarbanes-Oxley Act, but GRC software requirements have changed and now are seen as a means to achieve Enterprise Risk Management. Specifically to evolve from managing risk as a transaction or compliance activity to adding business value by improving operational decision making and strategic planning.
GRC software becomes the governance platform for defining, maintaining, and monitoring risk.
HCL’s service offering leverages the existing competencies both Domain and the technical in pioneering the expertise on the GRC tools developed by SAP. Key pain areas for organizations today are the horizontal compliances including SOX, Environmental coompliance. Further there are vertical specific compliances specific to the industry of operations like BASEL II for Banking, trade Compliances for Exports and Import centric businesses. HCL GRC service offering aims at understanding the tools architecture, design and capabilities and sync the domain knowledge where by offering the customer a complete consulting cum implementation solution with an integrated approach to GRC.
Micro-verticalized Focus
Horizontal Compliance Focus
Global Delivery Model
Customer as co-creator of GRC services
Integrated GRC Approach (as compared to fragmented approach prevalent in the market today)
