GRC Economy ....

I personally believe GRC (Governance, risk management, and compliance) matters a lot. It's not just a personal thought , It was proven...It was proven on

It could be IT GRC, Legal GRC, Financial GRC or SAP GRC.. It’s a sun raising market now.. We cross the age of classic automation or workflow automation. This is the time to do better , risk avoiding and adhere to Compliance… Its booming economy…

Invest your energy , intellect, talent and money on this … I am sure it is 200% return…

..So what is about it… Just a basic Wikipedia definitions…

Governance describes the overall management approach through which senior executives direct and control the entire organization, using a combination of management information and hierarchical management control structures. Governance activities ensure that critical management information reaching the executive team is sufficiently complete, accurate and timely to enable appropriate management decision making, and provide the control mechanisms to ensure that strategies, directions and instructions from management are carried out systematically and effectively.

Risk management is the set of processes through which management identifies, analyses and where necessary responds appropriately to risks that might adversely affect realization of the organization's business objectives. The response to risks typically depends on their perceived gravity, and involves controlling, avoiding, accepting or transferring them to a third party. Whereas organizations routinely manage a wide range of risks (e.g. technological risks, commercial/financial risks, information security risks etc.), external legal and regulatory compliance risks are arguably the key issue in GRC.

Compliance means conforming with stated requirements. At an organizational level, it is achieved through management processes which identify the applicable requirements (defined for example in laws, regulations, contracts, strategies and policies), assess the state of compliance, assess the risks and potential costs of non-compliance against the projected expenses to achieve compliance, and hence prioritize, fund and initiate any corrective actions deemed necessary.