Information Technology Governance, Risk, and Compliance (IT GRC) relates to the activities intended to ensure that the IT organization supports the current and future needs of the business, and complies with all IT-related mandates.
The various GRC tools focus on different aspects of Governance, Risk and Compliance including qualitative and quantitative aspects. The GRC tools currently in the market have different goals and designed accordingly:
- Business GRC – Focused on business side or business process related controls
- Regulatory Compliance – Specific to SOX, Financial Industry, etc.
- IT GRC – Focused on technology governance, policies, etc.
- Quantitative – Includes simulation, trend analysis, etc.
The major decision here is selecting right tools for the organization that fits management goals, business expectations, technology architecture, and have required support. Also, a very important consideration is health of an organization providing the tools and their ability to develop add-ons that take care of future regulations.
IrisLogic’s team experience is one key aspect where we work with organizations in decision phase to gather requirements and help decide the tools that best fits organization requirement. In decision making phase we provide visibility to business and IT teams about the design architecture in the very early phase.
The success in buying any technology tools is its usefulness to business team. IrisLogic’s experienced team with deep understanding of business and IT architecture of different GRC tools helps management by providing an early understanding of limitations within the tool and amount of work involved in customizations. IrisLogic team assists organizations in prioritizing GRC tools according to management needs using proprietary GRC classification techniques.