When deploying a technology platform for any GRC process, many questions are considered during the procurement process.
“How long will this take to get up and running?”
“Is it customizable?”
“Is this software affordable – and what if we choose to expand the scope of our deployment?”
Within the scope of GRC, policyIQ can be used to implement nearly any type of risk assessment – and can be done quickly (with custom tailored content), all at an affordable price. It’s a system that grows as you grow. But as you likely know, risk assessments are an area that has a seemingly infinite number of options on how to get from A to Z. Fraud Risk? Financial Risk? Third Party Risk? And the various methodologies to achieve each can be staggering.
Can I implement my own methodology, or am I forced to use the software’s built-in items?
You’d be surprised to find that for many software platforms, the response to this doesn’t always yield positive answers. One of the benefits of utilizing policyIQ is that the keys are in your hand for making this decision. We have clients from all corners of the globe that choose to use their own methodologies when leveraging our software – and are able to do so with excellent results. Likewise, many organizations have sought subject matter expertise, looking for a proven methodology and guidance to help them get the ball rolling.
Regardless of the approach, policyIQ’s flexible platform is fine-tuned by the client to become the go-to place for establishing a consistent and reliable risk assessment environment, year after year.
Via the Institute of Internal Auditors (IIA), we’ve heard this spring from Victoria Gambale, Olivia Kirtley, Joel Kramer and many others that people, talent, and subject matter expertise are critical to your success. At any point in time we will likely find ourselves shy on expertise in a particular area. Kramer stated that “no organization has all of the competencies that they need” and that organizations “cannot be world class without a co-sourcing relationship”. Others have emphasized the value of having both institutional knowledge and rotation of staff with “fresh eyes”.
Speakers and the General Audit Management Conference emphasized that it should be a standard step in the planning process of any audit team to consider the co-sourcing relationship and your assessment of the subject matter expertise that your team is lacking from the beginning of your planning process. More than just filling the competency gaps on your audit team, SMEs can also be contracted to shore up the education and training of your staff.
This is among the differentiating characteristics of RGP consultant professionals—with an average of 18 years of experience, we are prepared to provide a new perspective while walking alongside your team and sharing proven expertise (rather than sending recent college grads with a checklist). Our culture and model of creating strong partnerships that transcend into trusted relationships is what has attracted 75% of the Fortune 500 to call on us and 100% of our top 50 clients to remain committed to those partnerships over many years.
With more than 70 wholly-owned offices world-wide, we are able to better ensure consistency of our model and culture, unlike many firms who employ affiliates. This allows our global firm to have a “local feel”—the quality of our work, ability to meet client goals, and building long lasting, valuable relationships becomes the personal mission of our staff in any of our locations.
In addition to supporting our clients with direct audit support, we can also provide subject matter expertise from any of our six practice areas to work with your auditors. An SME from our Human Capital practice can partner with your auditor on an audit of your ERP system, for example.
We’d love to chat with you over a cup of coffee and begin the conversation and relationship. Reach out to us and we’ll get something scheduled!