Organizations today contend with point solutions for addressing specific regulatory needs in the markets that they operate. However, with new regulations and compliance standards being constantly evolved, organizations are constantly pressured to adopt new solutions that address these evolving standards.

While the cost of acquiring these compliance systems can become prohibitive, the organizations also run the risk of having these systems running as separate silos. These might lead to governance and compliance initiatives that are not aligned with the business objectives.

Ramco’s GRC solution offers a comprehensive framework that enables the organization define governance initiatives that are derived from strategic business objectives. Through the use of an intuitive framework modeler, organizations can define their objectives, the policies and procedures that govern the achievement of these objectives, and the risks that are associated with the achievement of these objectives. As the regulatory landscape changes, organizations can add or modify existing policies and also reassess the impact on the strategic objectives.

Moving beyond risk definition and control identification, Ramco’s GRC framework provides extensive risk assessment capabilities that are driven through user defined risk assessment forms for manual controls and event based assessments for automated controls.

With its integration to Ramco Business Analytics, and Ramco Master Data Management, the GRC solution offers a world-class reporting, ensures organizations work on “single version of truth” and performance monitoring dashboard that allows executives to monitor the performance of their GRC initiatives through a single window.