Guide for Replacing Legacy GRC Systems

This guide provides practical guidance for organizations considering the replacement of legacy Governance, Risk, and Compliance (GRC) systems. It outlines the challenges posed by outdated, siloed systems that hinder real-time oversight and decision-making. The document details the benefits of transitioning to a modern, integrated GRC platform, emphasizing the importance of connected data models that link risks, controls, obligations, incidents, and audits. It explains how such a system can simplify assurance processes, enhance reporting speed, and reduce costs associated with maintaining legacy systems. The guide also discusses the critical shifts in risk management expectations from boards and regulators, highlighting the need for timely, evidence-based insights. Additionally, it presents a framework for evaluating readiness for change and the potential productivity gains from adopting a more agile GRC solution. Overall, the guide serves as a comprehensive resource for organizations aiming to enhance their risk management capabilities through technology.