Lead organizations legally compliant, according to standards and successfully

With OMNITRACKER Governance, Risk and Compliance Center (GRC Center), you manage your organization (companies, public institutions, NGOs, etc.) successfully and profitably while demonstrably complying with all necessary laws, standards and other compliance requirements. Use a central multistandard solution to manage all your compliance requirements, audits, controls and risk management. All information is available to you exactly when you have to make decisions. Even organization-specific or industry-specific regulations can be easily mapped and complied with. The objective of the GRC Center is the profitable, transparent and holistic management of your organization, based on integrated risk treatment and continuous improvement.

What is GRC | Governance, Risk and Compliance?

Good (i.e., simultaneously low-risk and profitable) corporate management consists of three action levels: governance, risk management and compliance. Due to the overlap in content and the interaction of the individual areas, it makes sense to rely on an integrated GRC solution for software-supported implementation. This allows you to monitor your existing processes, structures, corporate values and IT infrastructure in the best possible way, and optimize them with regard to all GRC aspects.

• Governance: In the area of governance, you define qualitative and quantitative objectives, shape relationships with your stakeholders, and manage your most important contracts. In a broader sense, it is also about the legally regulated responsibility of an organization and the commitments it has made. The other two areas, risk management and compliance, support you in achieving your defined targets and in complying with all (legal) regulations.
• Risk management: Software-supported risk management includes the early identification and systematic collection, analysis and assessment of risks. Furthermore, the provision of risk strategies (avoid, reduce, transfer, accept) as well as iterative risk handling is managed. All business risk types must be considered here, e.g. strategic risks, market risks, default risks, compliance risks and operational risks. In this context, risks are defined as events that have an influence on the achievement of the company's objectives. In risk analysis, the dimensions of risk cause, impact (amount of damage) and probability are relevant. The primary objective of risk management is to keep the sum and severity of all potential risks as low as possible so that business targets can be met more predictably.
• Compliance: Compliance means adherence to internal and external requirements. These requirements may be (international) laws, regulations and standards or (internal company) codes of conduct. This consciously controlled adherence to rules is aimed at avoiding legal sanctions or damage to the company's image, as well as increasing the quality and predictability of business activities. For example, checklists, management systems and industry-specific standards as well as generally applicable legal requirements serve as control elements. GRC software helps with the complete and documented implementation of all compliance regulations, as thousands of individual requirements are met in parallel. Corporate management has to deal with complex distributed and interlinked levels of relationships. These include supraregional and multinational business relationships, legal and social rules, business units and locations with different objectives as well as the controlled implementation of processes. In every process within an organization, the most diverse manifestations of these influences interact with each other—each with its own individual requirements. With the GRC Center, you maintain an overview of this network of requirements and relationships. At the same time, you comply with all standards and regulations in a structured manner, which will ensure your business success.

Advantages at a glance

• Central and expandable multistandard solution
• Minimize risks of all kinds
• Reliably achieve business objectives & identify potential
• Use synergies & save resources
• Structured processes thanks to ITIL & ISO-compliant implementation
• Internal & external GRC control system

Current scope of functions and planned upgrades of the GRC software: OMNITRACKER GRC Center

Risk Management

With OMNITRACKER Risk Management, you collect, analyze, evaluate, control and document all risks on process, project and company level.

Audit and Compliance Management

With OMNITRACKER Audit and Compliance Management, you build a management system to meet all requirements for your organization. Audits are performed to check compliance and to control the correction of deviations.

Governance Services

With the module Governance Services, you collect, control, and document all the management decisions, contracts, objectives, and information your organization needs to comply with all requirements and ensure business success.

Supplier Risk Management

OMNITRACKER Supplier Risk Management supports you regarding make-or-buy decisions and with identifying the best suppliers. Furthermore, it helps you to centrally manage your contractual relationships with suppliers and partners and evaluate their performance.

Business Continuity Management

Our Business Continuity Management provides you with tools for (preventive) handling of loss events. For example, you use business impact analyses to assess the impact of potential damages. Emergency plans help you to react quickly to incidents and to survive them, if possible, without consequential damage. Disaster recovery plans help you to fully resume your regular business activities after a crisis.

Features

• Comprehensive rights and roles concept
• All-in-one solution with modular applications and tools
• Integrated risk management of all organization-wide activities
• Time-accurate, high transparency and control thanks to Business Intelligence
• Process-oriented and information-based improvement of your organization
• Compliance with necessary and required laws, standards and guidelines