GRC reflects the way in which organisations adopt an integrated approach to these three areas which include multiple overlapping and related activities within an organisation, e.g. internal audit, compliance programs like SOX, enterprise risk management (ERM), operational risk and incident management, etc.
GRC software such as Optial enables an organisation to adopt a systematic, organised approach to managing GRC-related strategy and implementation. Instead of keeping data in separate "silos," a single framework is used to monitor and enforce rules and procedures. Successful installations enable organisations to manage risk, reduce costs incurred by multiple installations and minimise complexity for managers.
Optial Product Modules
Optial offers a GRC software platform for managing key business assurance activities – more efficiently and more effectively. Optial generates dramatic cost reductions and delivers transparency and confidence in the management of corporate risks across single or multiple organisations on a global scale. Optial product modules provide comprehensive software for automating, completing, reviewing, monitoring, reporting, and acting on any type of GRC business process including , , , , and risk management methodologies. Engineered using the latest Internet technologies, Optial offers a flexible framework deployed either through onsite installation or through a secure offering. Its modules are available in any combination within a single system to match all compliance and control requirements.
Organisations benefit inherently from a framework which controls risk in an effective and accountable way. Increasingly, being able to demonstrate the proper management of operational risk and other GRC activities is essential not only for regulators, but for raising standards of performance and shareholder value too.
The flexibility of Optial and its ability to support multiple frameworks within one system mean that Optial is equally applicable across all industries where reputation, compliance and good corporate governance are paramount. Optial solutions add significant value within , and , in sectors such as Rail, Pharmaceuticals and Oil & Gas, providing a sound platform for Management.
Governance & Regulation
Organisations are increasingly under pressure to better manage their control and compliance activities in response to wide range of regulatory and governance requirements, some of which might be industry specific such as , , and AML and others which apply across industry such as , RIDDOR and other directives.
There is an increasing need for organisations to manage and distribute a larger number of policies and regulations throughout the organisation for awareness and control assessment. Optial offers a single system to record all incidents, assess risks, apply controls and to analyse, monitor, measure and report internally and externally across all compliance, regulatory and governance activities.