GRC Meets Analytics
Not surprisingly, analytics plays an increasingly important role in governance, risk and compliance.
“Used effectively, analytics helps an organization better understand risk components,” says Accenture consultant Rob Dyson. He believes that by examining various factors—ranging from security to document tracking—it’s possible to understand how different controls affect business objectives.
One problem with conventional security, he notes, is that it’s typically viewed as a cost center. However, when an organization adopts business analytics and applies it to GRC, it’s possible to view how decisions enhance or detract from overall productivity and risk.
In the end, Dyson concludes, “An organization is able to manage risk more appropriately. At that point, GRC becomes part of the value statement of the organization.”