Creating GRC integrated business processes. Developing a checklist.
Business and services can work together with a single point of accountability. Many companies are pushing to make IT and GRC operations work in tandem to improve compliance and are currently embarking on a transformation journey that is daunting in both size and scope when a decision to integrated business and GRC solutions is taken. The goal is to provide the company with cross border global data and information, communication technology, back-office operations, security, and procurement
The to-do list ranges from reducing shared-services costs by a 2 digit percent by 2015 to achieving faster and more flexible delivery of innovative products and services that improve the customer experience.
The journey is complex and has evolved thru a variety of GRC issues like:
- Centralize operations and IT services, and procurement by country.
- Create shared-services units across national borders and to develop global functions that guaranteed synergies and harmonization of services across countries.
- Start a organisation responsible for infrastructure, development, and maintenance of all information and communication technology applications in the main countries.
- Started a organization for back-office activities in these countries that served the main and sometimes all the countries in the group. Information and communication technology, back-office functions, and other support services were centralized to locations where we had the best individual and other resources for the tasks at hand.
- A change management reorganization that rests on six pillars: flexibility, agility, time to market, innovation, transparency, and cost effectiveness. The aim is to increase the value created by reducing costs further and truly integrating the services team to better support the business side in the development of solutions that benefit of the customers.
A cultural change brought on by digitization also affects the real business world. In the past, companies had to drive across silos for operational processes, IT applications, procurement, call centers, and fraud management—to name a few—to define and improve the customer experience.
That is no longer the case. For any type of products and services, the new operating model puts all the service areas involved under a business-focused single point of accountability. One person is responsible for both IT and operations; for managing services delivery, people, and costs; and for driving innovation in an end-to-end value chain. It is remarkably different from the company where IT and back office were separate legal entities.
Source: McKinsey
