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Spreadsheets: A Risk & Compliance Management Nightmare
Business risks are evolving continuously, from third-party suppliers to supply chains, cyberattacks, environmental compliance, and regulatory issues. While every company starts its risk management somewhere, spreadsheets are the most common way to manage governance, risk, and compliance (GRC).
Spreadsheets have long been known to cause a lot of manual errors, as well as frustration. Facing challenges such as managing dropdowns, versioning, tracking, and multiple user responses, the overall GRC management process becomes quite complex. As organisational environments grow, so must their resiliency, creating demand for the need to be cost-efficient and reduce an increase in the required effort for risk management and compliance.
This is where GRC tooling and platforms become relevant. A GRC solution provides intelligence for processes around risk management, compliance, and implementing control measures while complying with regulations.
eBOS offers WiseBOS GRC (Governance, Risk, and Compliance Management), a powerful software tool that aids organisations in building a reliable and robust framework to procure corporate targets while providing a practical institution-wide risk management framework that successfully complies with both internal and external business rules and regulations.