GRC has swiftly ascended to the top of the priority list at significant corporations all around the world. In any corporation, the board establishes the corporate goals, which are then managed by various business units and operational teams. If there are risks associated with accomplishing the business objectives, those risks need to be handled at the appropriate points to guarantee that all business objectives are reached.

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The market factors are all pointing in the same way. The corporate focus on ServiceNow GRC processes will continue for a while, despite significant resistance to improved GRC, and its complexity is growing daily. 

The importance of GRC has increased significantly in recent years as firms attempt to implement good practices to manage risk uncertainties, and integrity issues. As a result, several business units generate a lot of data, which operations send back to the management boards.

However, GRC implementation comes with its own set of challenges. These challenges, therefore, make it imperative for you to understand what can hamper the implementation process.

Read the blog to know what organisational changes come with the implementation of GRC.

Let's Now Look at the GRC Implementation Pitfalls

 

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  • Siloed Strategy

The departmental division is one of the causes of the GRC implementation's shortcomings. Security and compliance are not department-specific issues. It must be managed at the organisational level through a company-wide program that collaborates with other divisions to manage it effectively. 

  • Nebulous Scope

Choosing between a phased implementation approach and a big-bang implementation technique for organisations is crucial since it can significantly impact execution. It is the management's job to do a capacity study, refrain from making hasty judgments that may be overwhelming and further complicate adoption, and adhere to ongoing compliance. 

Read the blog to learn how to Strategically Manage Regulatory Requirements with inMorphis + ServiceNow GRC in your organisation.

  • Management Problems and Technology Issues

A failed GRC deployment can be caused by a lack of understanding of how technology integrates with business systems and poor change management. Overestimating the capabilities of business systems and ineffective change management necessitates a handshake between technology suppliers and management. Inefficient testing systems and procedures might also negatively affect GRC deployment.

  • Enterprise Pliability

A further frequent failing is the absence of dynamism across the entire organization. Organizational leadership must establish the necessary procedures to regularly assess risks and strengthen their company operations to create a risk-aware culture. Businesses that have already created a framework for their risk perspective are in a better position to deploy GRC successfully.

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  • Lack of Leadership Governance

The absence of a competent team is the last but most significant factor in the failure of ServiceNow GRC implementation. An effective leadership team can guide the implementation and provide direction. The ideal solution can be implemented only with well-defined strategies and proactive research of market trends by a group of GRC specialists. An organisation must establish a GRC team after assessing and comprehending the risks specific to that economic sector. It will be simpler to identify the business requirement and determine whether it requires the involvement or assistance of external teams if the GRC team and leadership collaborate.

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Conclusion

In conclusion, the implementation of ServiceNow GRC is vital in today's business world to manage risk uncertainties and integrity issues. However, businesses must avoid pitfalls such as siloed strategies, nebulous scope, management problems, lack of enterprise pliability, and leadership governance to ensure a successful implementation.

Read on to learn more about bringing organizational change through GRC implementation with us at inMorphis.