What Is GRC?

Governance, risk, and compliance, or “GRC,” refers to the consolidation of three critical elements of business management and operations.

  • Governance is leadership, driven by both ethics and (typically board-approved) business goals, plans, and strategies.
  • Risk refers to risk management, which includes risk assessment, avoidance and mitigation of negative risks, and evaluation and management of risks associated with opportunities.
  • Compliance is adherence to all applicable and relevant best practices, industry recommendations (such as SOC 2), laws, and regulations.

Treating these elements collectively can improve overall business operations. Doing so can increase visibility and improve management of negative risks. GRC consolidation can reduce costs compared with dealing with each element separately. It can also avoid needless duplication and management roles and efforts.

There are specialized software tools available for GRC management. However, these are often too expensive, difficult to deploy and use, or both for all but the largest enterprises. Fortunately, achieving and sustaining continuous compliance with SOC 2 can provide a firm foundation for supporting and expanding GRC management efforts, even at companies with limited resources. Compliance automation software can help companies move toward more consolidated and effective GRC management. Compliance as a service can be an attractive option for companies with few or no internal IT resources.

How Trustero Can Help

Trustero Compliance as a Service (CaaS) is cloud-based, easy-to-use compliance automation software. It is designed to simplify SOC 2 audit readiness and enable continuous compliance.

For example, the Trustero platform includes auditor-approved controls and auditor-vetted policy templates. In addition, it performs automated evidence gathering and validity testing. And it provides AI-powered recommendations for manual evidence gathering and testing. Trustero CaaS also integrates with leading Software as a Service (SaaS) tools and platforms. These features help make SOC 2 audits and creation of SOC reports easier and faster, for you and your auditor.

The Trustero solution also constantly monitors your technology infrastructure and can notify administrators when an element falls out of SOC 2 compliance. In addition, Trustero Compliance as a Service reports on your compliance posture, regularly and on demand. These and other features help you achieve and sustain continuous compliance with SOC 2. They also help you pursue and track the progress of your GRC initiatives more effectively.

Learn more:

Read “SOC 2, GRC, and ESG: From Acronyms to Action