GRC Tool

What is a GRC tool?

A GRC tool (Governance, Risk & Compliance Tool) is a software solution that helps organizations to manage and monitor their corporate governance, risk management and regulatory compliance (compliance management) in an integrated manner. The aim of a GRC tool is to create transparency, traceability and efficiency in these three areas in order to minimize risks and ensure compliance with legal and internal requirements.

With a GRC tool, companies can manage policies, identify and evaluate risks, document controls and manage evidence and measures in an audit-proof manner. Particularly in regulated industries such as finance, energy, healthcare or mechanical engineering, the use of such systems is essential to centrally coordinate governance structures and compliance requirements.

How does the GRC tool Aeneis work?

The GRC concept is fully integrated in the Aeneis BPM and GRC software. The software provides a process-oriented platform on which governance, risk and compliance aspects are not isolated, but are presented in direct connection with business processes.

This creates a consistent digital business model in which responsibilities, risks, controls, measures and documents are linked together. Through specialized GRC apps, such as for risk management/ICS (internal control system), ISMS (information security management system), audit management, data protection management or BCMS (Business Continuity Management System), organizations can operate their management systems in an integrated manner and utilize synergies.

For example, Aeneis supports companies not only with governance management, but also with the digital implementation of legal requirements (e.g. ISO 27001, MaRisk, NIS-2 or ISO 22301) and creates a clear link between risks, processes and responsibilities.

What features does a GRC tool include?

A professional GRC tool bundles the central functions of governance, risk and compliance in a single platform. It creates transparency about processes, risks and measures and ensures that all management systems work in a networked manner.

Governance — corporate governance and policy management

A GRC tool supports the structured management of requirements, responsibilities and controls. Typical governance functions include:

• Centralized management of policies, processes, and manuals
• Clear definition of responsibilities and roles
• Automated release and review processes
• Comprehensible documentation of all changes
• Uniform, process-oriented organizational model

In Aeneis:

• Guidelines and manuals are maintained and versioned as SmartDocs.
• Processes, roles, and documents are logically linked.
• All content is documented in an audit-proof manner and can be evaluated at any time.

Risk — recording, evaluating and managing risks

A GRC tool forms the basis for systematic risk management. It enables:

• Identification and classification of risks
• Evaluation according to probability of occurrence and amount of damage
• Automatic creation of risk matrices
• Allocation of risks to processes and responsible persons
• Follow-up of measures and controls

In Aeneis:

• Risks are managed centrally in the integrated risk management app.
• Risks, causes, effects and measures are directly linked to processes.
• Dashboards show the current risk situation in the company in real time.

Compliance — compliance with legal and internal requirements

In the area of compliance, a GRC tool ensures transparency and traceability in all regulations and audits. Key features include:

• Management of standards, guidelines and legal requirements
• Verification of tests and controls
• Planning and execution of audits
• Automated workflows for approval and documentation
• Linking of compliance requirements with processes and roles

In Aeneis:

• Implementation of international standards such as ISO 9001 and ISO 27001
• Illustration of industry-specific regulations such as MaRisk, BAIT or NIS-2
• Integration of audit management, ICS and ISMS in one system

Reporting, Workflows, and Automation

Modern GRC tools not only enable documentation, but also active control.
Key features include:

• Automated management reports and dashboards
• Real-time evaluations of risks, processes, and measures
• Electronic workflows for reviews and approvals
• Uniform database for audits and certifications
• Export functions for reports, such as PDF or Excel

In Aeneis:

• Comprehensive standard reports such as risk report, management report or SOA report
• Individual workflows for continuous improvement
• Unified reporting for all GRC apps available directly in the portal

What are the benefits of an integrated GRC tool?

A modern GRC tool such as Aeneis offers a variety of advantages:

• Central control of all governance, risk, and compliance activities in one platform
• Process-oriented connection of requirements, risks, measures and responsibilities
• Efficient auditability through automated reports and clear traceability
• Improved basis for decision-making through risk analyses and dashboards
• Increased resilience (resilience) through consistent management of risks and business continuity
• Sustained compliance security through standardized workflows and documented audit trails

Through this integration, redundancies are avoided, processes are accelerated and the entire organization gains security and efficiency.

How does Aeneis support the connection between BPM and GRC?

The special concept of Aeneis lies in the integration of BPM (Business Process Management) and GRC in a common environment. Processes, risks, measures and documents are not separate from one another, but are logically linked.
An example: A risk is attached directly to the affected process, linked to a control measure and monitored via a workflow. This close connection enables a high level of transparency and automation and ensures that governance, risk and compliance management do not remain an isolated IT project, but become an integral part of daily business practice.