Learn how to modernize your GRC program

Outdated GRC systems? They're a risk within themselves. As regulations grow more complex, outdated systems can leave you vulnerable to inefficiencies and compliance issues. Modernizing your GRC system streamlines decisions, cuts unnecessary costs, increases flexibility, and aids in taking a proactive approach. It ensures you're not just responding to but anticipating and managing risks effectively.

Why do businesses need to modernize their GRC program?

Traditional GRC relies on manual, reactive processes and legacy systems, while modern GRC uses automation and real-time data, and proactively manages risks, improves efficiency, and adapts to change, providing actionable insights for more informed decision-making.

A well-run GRC program helps protect your organization from threats, keeps things transparent, and earns the trust of customers and stakeholders. In this blog, we’ll explore the challenges of sticking with outdated GRC approaches and the benefits of modernizing your GRC program.

Challenges with traditional GRC

Traditional GRC systems are outdated and slow, and they struggle to keep up with changing standards, regulations, and technology. Here are some limitations of conventional GRC methods:

1. Outdated systems and software: Traditional GRC systems rely on legacy systems and software. These outdated tools are slow in processing data and responding to risks. As a result, organizations find it harder to stay proactive or effectively manage emerging risks and regulatory changes.

2. Manual processes: Many GRC tasks, like risk assessments, policy enforcement, and reporting, are still carried out manually, which is time-consuming and prone to errors. Maintaining up-to-date compliance can overwhelm teams, leading to burnout and data redundancy.

3. Lack of integration: In traditional GRC systems, data and tools are often spread out across departments, creating barriers to a unified view of risks and compliance. Without seamless integration, teams can miss critical insights or fail to act quickly when needed.

4. Slow adaptation to regulatory changes: Regulatory changes are happening faster than ever, and traditional GRC systems can’t keep up. Without automatic updates, businesses are left manually tracking changes, leading to costly delays and a higher risk of missing critical compliance updates.

The benefits of modernizing your GRC program

Modernizing your GRC program isn’t just about compliance, it’s about building a culture of proactive risk awareness. Here's why it matters: 

1. Automation and efficiency: Automating processes like risk assessments, audits, and compliance reporting cuts down on manual work and reduces human errors. It also allows organizations to stay proactive in managing risks and ensure timely compliance with evolving regulations.

2. Cost reduction and ROI: Modernizing GRC cuts costs by streamlining workflows, removing redundancies, and optimizing resources. Automation reduces errors and helps avoid expensive fines for non-compliance. Over time, this leads to better ROI, fueling growth and lowering financial risks.

3. Cybersecurity and data protection: With cyberthreats becoming more frequent, modern GRC tools are vital for spotting risks and managing incidents effectively. They monitor vulnerabilities in real time, ensuring businesses can prevent breaches and stay compliant with laws like the GDPR and the CCPA, safeguarding both data and finances.

4. Driving business agility: A modern GRC program helps businesses stay flexible and quickly adapt to changes, from new regulations to market shifts. Implementing proactive risk management practices helps businesses identify emerging risks and blind spots before they become critical issues, ensuring smoother growth over a long period of time.

How to modernize GRC programs with ManageEngine AppCreator

Modern GRC programs have become a necessity, not a luxury. Traditional GRC systems are slow, and they often fall behind when it comes to adapting to new regulations and technologies. 

This is where low-code comes into the picture. Low-code is a software development approach that allows users to build applications using minimal coding and drag-and-drop tools, ideal for non-technical users and businesses seeking to streamline app creation without extensive technical expertise.

Low-code platforms offer workflow automation, dashboards, and integration with other software products, along with easy deployment for mobile and web applications, allowing users to quickly build apps with minimal code.

Using low-code platforms streamlines operations, lowering costs and turnaround times. They’re perfect for enforcing GRC in modern organizations, offering flexibility and easy alignment with business goals.

AppCreator is a low-code custom application development platform that lets you build powerful apps to automate and streamline processes by reducing manual effort and minimizing risks. 

With its user-friendly interface, powerful automation capabilities, and real-time monitoring of KPIs like compliance violations, audit reports, and business performance using dashboards, AppCreator empowers you to streamline processes, reduce manual effort, and enhance decision-making. This can help businesses stay ahead of regulatory changes and proactively identify potential risks.

AppCreator can be used to build custom GRC applications, such as risk management, compliance tracking, and audit management tools. With this low-code platform, businesses can quickly create tailored solutions to assess risks, track regulatory compliance, and streamline audit processes, all while ensuring efficiency, security, and flexibility.

If you’re  looking for a low-code platform to streamline your GRC processes, try your hand at ManageEngine AppCreator. Sign up for a free and personalized demo here.