In our previous article on GPRC, we looked at the end-to-end implementation process in the form of a 5-stage roadmap - basically “what” needs to be done. In this article, we’ll look at “how” the necessary activities which make up GPRC implementation can be carried out, and, more specifically, how the right software can make the process more efficient, and more successful.
As an example, we’ll look at Corporater - an integrated GPRC management platform, and how it works across the four disciplines of governance, performance, risk management, and compliance.
Supporting effective governance
Using a GPRC platform such as Corporater to manage governance allows organizations to make use of improved information flows whereby data is shared both hierarchically and cross-functionally. This results in greater transparency, allowing more comprehensive reporting and analysis and facilitating more informed decision-making.
GPRC software has the potential to transform all areas of governance, from data management to strategy, to business integrity and security, while promoting the exchange of information and ideas from a centralized platform. This in turn has a positive effect on organizational culture, empowering and encouraging managers to take on greater ownership and accountability for their areas of responsibility.
Monitoring and optimizing performance
From a performance perspective, implementing a GPRC software solution enables improved tracking of key performance indicators, using visual dashboards and on-demand data feeds to give managers access to the most up-to-date and relevant performance metrics at-a-glance, from any device.
Platforms such as Corporater bring the added benefit of flexibility, enabling users to configure the software to support their specific needs at any given time, shifting their focus between the high level, e.g. corporate performance management, through to a more granular view of project and portfolio management, or even digging down into employee performance metrics at a departmental, group or individual level.
Evaluating and managing risk
Within risk management, integration is key - without a complete picture of the risk landscape, organizations are unable to plan effectively. Software solutions like Corporater bring together the constituent disciplines of risk identification, analysis, reporting, management, and mitigation, giving users a holistic picture of internal and external risk before the negative effects are felt.
Using a GPRC platform introduces a number of powerful capabilities to the organization’s risk management function, including control assessments, monitoring of residual risk levels against tolerances, and implementing taxonomies to categorize and prioritize risks. The platform is framework agnostic and can be used with COSO, COBIT, NIST, HIPAA, PCI-DSS, HITRUST, ISO, or a combined framework incorporating elements of these.
Ensuring regulatory compliance
In terms of compliance, perhaps the greatest advantage of deploying a GPRC software solution is the ability to centralize and automate many of the key processes which the organization relies on to manage regulatory and legal compliance. This significantly reduces administration time, eliminates manual errors, and gives a single, digestible overview of the compliance status of the organization.
Compliance frameworks such as ISO, ISA, or COBIT can be integrated and configured within the platform - for example, Corporater is able to deliver ISO digitally, thanks to an agreement with Standards Online AS. GPRC platforms provide a single interface capable of managing compliance at all levels, from individual conduct and accountability, to internal audits at departmental or divisional level, through to business continuity and organizational compliance.
An integrated approach
The overarching benefit of using a dedicated software solution such as Corporater to manage all aspects of GPRC is the deep integration and opportunities for collaboration between business functions which are possible.
Instead of working within silos, leaders and employees across the organization have access to key data which contextualizes their own activities and makes clear their contribution to the overall strategy. This added context reduces the risk of differing priorities or competition for resources, which can damage overall performance. Data is available in real-time, allowing more responsive decision-making and rapid analysis, fostering continual improvement.
Getting started
If you’d like to learn more about how Corporater’s flexible and integrated platform can help facilitate the implementation, management, and monitoring of GPRC issues within your organization, book in your free demo or request a detailed quote here.