Integrated GRC Framework: What Is It?

An integrated GRC framework is a structured approach to managing governance, risk, and compliance activities collectively as part of a unified strategy. The alternative is a disconnected process where departmental silos work independently, often duplicating efforts.  

Why does this matter? Fragmented systems often miss the big picture. An integrated GRC approach, where teams are collaborating through shared data and workflows, makes it easier for leaders to meet regulatory requirements, spot risks, and make better decisions faster. It also prevents duplicated efforts, which drain resources. 

A disconnect between governance, risk, and compliance, on the other hand, can be catastrophic. In 2017, a lack of integration between Equifax’s IT risk management and compliance functions meant a flagged vulnerability was left unaddressed. This led to a data breach affecting 147 million people and costing over $700 million. 

How Technology Supports an Integrated GRC Framework 

Technology platforms built on an integrated GRC framework feature modules for addressing specific areas of compliance, risk, and governance. These modules, however, do not operate in isolation, but rather share data, workflows, and reporting across the platform.  

The essential modules for implementing an integrated GRC framework include:  

• Enterprise Risk Management: Identify, assess, and mitigate strategic risks 

• Third-Party Risk Management: Evaluate, monitor, and mitigate vendor and partner risks 

• Internal Audit: Streamline audit planning, execution, and reporting  

• Internal Controls: Ensure operational integrity and accountability 

• IT Risk Management: Address digital risk and cybersecurity 

• Policy Management: Centralize and enforce organizational policies 

• Conflicts of Interest: Manage disclosures and ethical risks 

• Incident Management: Identify and respond to unplanned events 

• Regulatory Compliance: Ensure alignment with laws and standards  

SAI360’s integrated GRC platform includes the modules listed above, as well as the following three recently released modules: 

• Whistleblower and Case Management: Receive, respond, investigate, and resolve reports from concerned employees and third parties 

• Training Module: Customize and deliver ethics and compliance training  

• Horizon Scanning: Identify external early risk signals and integrate with ERM workflows  

Benefits of an Integrated GRC Framework 

There are a number of benefits to using a software platform based on an integrated GRC framework. Working from a single platform provides a common language and standard processes for managing compliance and risk. In addition, strong platform security allows data to be shared across the organization while ensuring data protection. 

Additional benefits of an integrated GRC platform include the following: 

Comprehensive visibility. Shared data gives leaders the ability to see issues across functions and act with confidence, rather than piecing together partial reports from separate tools. 

Faster, better decisions. Seamless workflows reduce manual work, resulting in less errors and supporting faster decision-making. 

Flexibility and scale. A modular approach means businesses can easily scale as needs change.  

Ultimately, an integrated GRC platform will result in improvements in regulatory compliance and risk management efforts. For compliance, this includes reports being submitted accurately and on time, reduced rates of compliance-related incidents, positive audits, and favorable feedback from regulators.   

For risk management, in addition to a reduction in risk events and related costs, success can be measured in terms of faster recovery speed, improved resilience, and proactive risk mitigation efforts.  

Final Thoughts: Integrated GRC Framework  

Keep in mind, when you are choosing an integrated GRC platform, you are also choosing a GRC partner. Robust training tools and access to support are critical to ensuring long-term success. To maximize the platform’s capabilities, users need to be able to confidently navigate the platform, apply best practices, and get help when they run into problems.  

As you compare options, take the time to investigate the level of support provided and customer satisfaction. Don’t neglect the importance of finding a partner you can trust.