With a growing regulatory oversight, the corporate legal department and General Counsel are under tremendous pressure to manage and coordinate compliance with a spate of legal mandates such as Antitrust Laws, Employee Health and Safety Laws, Anti-money laundering Laws, Central Bank of Kenya (CBK) monetary policies, Insurance Regulatory Authority (IRA) insurance acts, Capital Markets Authority, etc. At the same time, increasing lawsuits and harmful litigations have raised the need for continuous monitoring and mitigation of legal risks such as contractual, regulatory, and employment risks.
The main challenge for the legal department lies in collaborating legal risk and compliance activities with various other departments across the enterprise. Managing these activities in the traditional siloed or ad hoc manner only leads to redundancies, inefficiency, and high costs. Besides, it limits the visibility that the in-house legal team has into the legal and compliance status of the entire organization. Cross-enterprise visibility is important for the in-house legal team to lead critical decision-making processes, and help organizations weather the coming regulatory storm.
EliteGRC helps enterprises confidently meet internal and external legal requirements while effectively managing risk. EliteGRC offers role-based solutions for Risk Management, Internal Audit, Internal Control, Compliance, Information Security, Business Continuity Management, and Third-Party Risk Management. Departments across an organization are able to work from one common risk taxonomy, focused on business objectives with a common language. EliteGRC makes it easier for companies to identify, understand, measure, and manage key organizational risks and compliance issues on a holistic level. Operations teams within an organization utilize EliteGRC software to maintain the integrity of their company and avoid scenarios such as lawsuits, investigations, and injuries.
EliteGRC also serves as a repository for controls, allowing the compliance team to prove that documented policies and procedures are followed. Our GRC software consolidates your Asset and third-party risk and compliance programs on a single cloud-based platform, helping you reduce risk, maintain records, and demonstrate regulatory compliance. Now you can eliminate time-consuming processes and be prepared for ever-changing regulations. Our GRC risk software brings your policies and procedures together on a flexible cloud-based platform while integrating with other key GRC data.
BENEFITS
Streamline the development, maintenance, and communication of all legal policies and procedures across the enterprise
Assess and manage risk by identifying, documenting, assessing and reporting on risk probability and reduce risk through appropriate measures and controls.
Manage compliance with confidence. Establish the necessary internal measures and controls to ensure compliance and a regular schedule to assess the effectiveness. Adapt quickly to new laws and regulations, and respond more efficiently to overlapping regulatory requirements.
Manage risk more efficiently. Minimize risks and penalties by identifying, documenting and assessing risk using heat maps. Manage policy more easily. Improve corporate governance with visibility into the life cycle of every policy, from creation to assessment of its effectiveness.
Manage audits with less cost. Re-use best practices for different audits and reduce the cost of staff time required to schedule audit-related tasks, manage paperwork, organize findings and report results.
Provides quick access to all risks, controls, control assessments, policies, and other critical information through centralized libraries with intuitive search functionalities
Helps efficiently manage and track regulatory examinations, accelerate responses, and reduce the risks of non-compliance
Provides a centralized and real-time view of GRC across the enterprise to ensure accountability and transparency in a company’s processes, systems, protocols, structures, operations, and controls
Provides a centralized and real-time view of GRC across the enterprise to ensure accountability and transparency in a company’s processes, systems, protocols, structures, operations, and controls
