Questions & Answers About Governance : Risk and Compliance Software

There are all new sets of rules being placed on businesses each and every day. These rules change depending on what it is the businesses do. When caught being non-compliant, the penalties can be quite stiff. Here are some questions and answers concerning GRC Software and how it can help a business when it needs it.

Q: What can the software do?

A: The software can spot in minutes what it could take months for manual compliance checks to achieve. By using this type of software, the business can automatically monitor all access logs and streamlines making reports to an almost instantaneous process.

Q: How will this help the business grow?

A: As a company naturally grows, the amount of scrutiny they face increases exponentially. Especially if they branch out to international business dealings, they will have to answer to and conform to many different requirements from many different countries. This can cripple a company if they are not well-prepared. As the scrutiny intensifies, they will need a much higher level of analyzation than they did when they were smaller.

Q: Are there any pitfalls inherent with this software?

A: Most people fail to consider all of the needs of their stakeholders when choosing exactly what kind of compliance software. They choose software which may look great on paper, but which gives results that end up being so much gobbledygook. If the information being presented is not easily translated, it could pose severe problems when the time comes to present reports to compliance organizations. There is also the not often considered problem of a lack of technical support for the actual software. Much of the software being used will be initiated in a very complex environment. This means that there will need to be people trained in the exact language that the software uses.

Q: How much support will the company need?

A: The best answer is to ask the auditors of the company. If the company is constantly failing compliance inspections, then it would be a pretty good idea to insist on a continual monitoring situation. If the company has consistently passed many of the compliance audits, then it may be appropriate to choose a lighter load for the sake of monitoring.

Always make sure to choose the software from a reputable company such as Mitratech, this way you can be assured you are always dealing with trained professionals.

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