Governance Risk and Compliance (GRC

By: Optial  09-12-2011
Keywords: Risk Management, business process, Corporate Governance

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.

Optial Solutions

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.

Keywords: business process, Corporate Governance, Risk Management

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Optial was born out of recognition of the role that technology has to play in assisting businesses to meet the challenge of establishing effective compliance programs, whether this be in the area of Sarbanes Oxley Compliance, Compliance Audit or overall Enterprise Compliance.


Audit Management

Instead, findings need to be readily and securely available to all interested and affected parties online, so that they can be updated on a regular basis with status and supporting information.The action tracking capabilities described in module 1 also apply to the Audit Module. The prime purpose of recording audits, findings and agreed actions is to ensure transparency and clarity of the resolution of issues identified during audits.


Operational Risk

With today's ever more stringent regulatory pressures and the increasing need for sustainable environments the raft of existing and emerging compliance issues demand ever increasing attention. There is increasing recognition that effective enterprise risk management serves both to protect and enhance shareholder value.


Operational Risk Software, Solvency II Software, Governance Risk and Compliance Software

Importantly, all data continues to be subject to the stringent and granular access control model within Optial, which ensures sensitive data is only available to authorised users. OBI means that managers can answer significant questions which are of keen interest to the board, risk committee, line management and other stakeholders. Optial SmartStart for Operational Risk.