While organisations treated these components as separate entities in the past,
the
resulting
redundancies made a unified and synthesised approach more attractive for its
efficiency.
These redundancies were due to the overlap between the Governance, Risk and
Compliance
disciplines, as all three impact the same people, technologies and information.
Thus,
attempting to manage each discipline separately creates substantial duplication
of
tasks
among other counterproductive objectives like:
Businesses of all types and sizes can use governance, risk and compliance
management. However, developing a GRC discipline should be prioritised by larger
organisations as they usually have extensive GRC requirements.