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.
Implementing an integrated GPRC strategy aims to synchronize each of these four components, giving leadership greater visibility and insight into the interdependencies between them, and resulting in improved outputs across the board. Let’s look at how organizations just getting started with GPRC can follow a 5-stage roadmap to achieve a successful implementation.
The importance of governance, risk management, and compliance (GRC) to a business is well understood. Increasingly though, forward-thinking organizations are adding a final piece to the puzzle - performance.
Corporater BMP (Business Management Platform) allows for the cascading of KPIs in order to facilitate the creation of detailed and insightful dashboards across all organisational levels and reporting periods. In doing so, this solution creates a detailed strategy model where executives and their employees will be able to assess performance at various levels of operation.
Accurate and meaningful data insights are required by executives and employees in order to effectively implement and update their business strategy. However, research suggests that most analytics features do not serve this function. In the 2019 KPMG Global CEO Outlook, 71% of CEOs surveyed reported their disregarding insights provided by analytics solutions, preferring to base decisions on their own intuition. Even so, the report concludes that CEOs will need to “anticipate their requirements through insights gleaned from data-driven analysis.”