A scalable and integrated approach to governance, risk, and compliance management.

Datacert releases Passport GRC, providing a comprehensive framework to support sustainable, proactive, and defensible management of governance, risk, and compliance (GRC) programs. Passport GRC integrates seamlessly with Passport Matter Management and Legal Spend Management, creating a closed-loop process between legal and GRC functions.

Aligned with standards defined by the Open Compliance & Ethics Group (OCEG), a nonprofit “think tank” focused on GRC that has defined the de facto standards for a comprehensive global GRC framework, Passport GRC includes four integrated components:

1. Compliance Management: allows companies to proactively manage and monitor updates to global regulations, policies, and controls to ensure compliance.
2. Risk Management: allows companies to monitor and manage any type of risk (e.g. operational, market, geo-political, environmental, etc.) across all industries, geographies, and functional domains and provides a central place to identify and categorize risks, conduct assessments, and manage corrective actions.
3. Internal Audit Management: provides a central place to manage audits and control assessments, identify potential compliance gaps, and provide a history of compliance.
4. Incident and Inquiry Management: provides a central place to triage incidents, losses, issues, and inquiries, manage investigations, and implement corrective action plans to mitigate future incidents or losses.

All of these components are consolidated on a single platform and share a common database, workflow engine, and business intelligence engine, allowing information to be easily shared across the different functional areas and providing critical visibility across all aspects of companies’ GRC initiatives. The shared audit engine provides a single system of record for tracking and auditing all compliance and risk-related activities and maintains an auditable history of “point-in-time” regulations and their related policies and controls to allow corporations to validate and demonstrate historical compliance.

While highly integrated, the Passport GRC components are also modular, allowing companies to select the components they need to address their most pressing requirements and expand the system with additional components as needs grow.

By Guest Blogger: Datacert, Inc.