GRC can be used to support ESG strategy

GRC software supports the continued evolution in risk management. Moving beyond the basic fundamental characteristics of risk management, i.e. risk assessments, risk indicators, and organizational infrastructure, GRC software is ready and able to help organizations in their implementation of ESG.

ESG, environmental, social and governance processes can often be confusing and even complex. However, once a company develops its strategy, GRC software can support the implementation of the decided upon strategy.  Also, there is no more natural place for management to maintain data and measure results of the strategy than a robust GRC software. Having this information readily available means that the company can easily transform into a sustainable globally conscientious business with a positive ethical impact.

A key step in this transformation is the recognition of value in the environmental, social and governance aspects of corporate management.  Far beyond the simple and newsworthy events that occur, doing the right thing environmentally translates into sustainability.  Also, when companies enhance their commitment to social concerns they let their customers know that “customer first” is more than a motto or a logo.  Perhaps most importantly, good governance practices provide trust and confidence to customers, investors and other stakeholders.

Granted, all of this can be accomplished without a GRC system but it would be so much more economic, process efficient and timely to let your GRC software support your ESG strategy.