Every Retail enterprise, in order to achieve its core purpose, need to adopt methods of governance, risk and compliance strongly. These help the Retail enterprise to protect itself from all kinds of risk and ensure it complies with laws and regulations for sustained business. Governance Risk and Compliance (GRC) helps to have an eyeball on enterprise activities and reporting for the purpose of transparency, awareness and progress towards achieving objectives or goals.
Retailers need to manage GRC centrally, critically evaluating its effectiveness for overall organizational accountability, sustainability, and continuity. The broad overarching Governance, Risk and Compliance (GRC) components include a) governance and accountability structure; b) reporting of events to stakeholders on the need to know basis; c) varied risks that can affect business, their impact and how it can be mitigated; d) varied compliances that need to met and how timely they were met; e) how the organization is progressing towards meeting its core purpose, and f) how can things be improved from long term sustainability.
The importance of Governance, Risk and Compliance (GRC) module is enormous. It glues the organization structure, strategic goals, accountability, reporting, automation, governance policies, and procedures into connected dots by interweaving them to be the utmost control mechanism at the apex enterprise level. Governance, Risk and Compliance (GRC) is centrally governed by the Board of Directors of every Retail enterprise.
Retail ViVA’s Governance, Risk, and Compliance (GRC) module have come a long way by integrating the various diverse modules of risk, compliance, and governance to provide a holistic view of risks across the Retail enterprise. Our Governance, Risk, and Compliance (GRC)module help to consolidate governance policies, procedures, and action points into one repository, with straight linkage to Enterprise Content Management (ECM) for document storage. With versioning and workflow approvals, our Governance, Risk, and Compliance (GRC) module echoes accountability right by its design, which is the cornerstone of Governance, Risk, and Compliance (GRC)process.
Retail ViVA’s Governance, Risk, and Compliance (GRC) module address the issues of corporate governance, enterprise risk management and effective corporate compliance with timely reporting and feedback loop for continuous improvement.
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