Paris: Capgemini has launched a new service offering to help organizations manage their governance, risk management and compliance (GRC).
The new service will manage GRC requirements in an integrated manner utilizing technology platforms and Capgemini's Global Process Model to deliver a continuous monitoring and analytics approach. It intends to help enterprises proactively manage and mitigate risks in IT, finance and accounting, operations, statutory and regulatory compliance, improve control environments and reduce compliance costs.
Capgemini says, "All organizations ... need timely information on potential risk and compliance issues to enable them to take proactive action to manage ongoing risks, rather than just at the time of periodical audits. Traditional approaches to governance, risk and compliance are no longer sufficient as organizations grapple with increased transparency, rapidly changing regulation, increasing legislation, the explosion in data and technology and increasing information security challenges. Internally enterprises are struggling with limited resources, organizational silos, rising costs of compliance audits, lack of fact-based risk assessment and a project-based approach which limits global standardization and visibility, and inhibits a common view of risk and compliance."
Capgemini's new offering aims to provide a holistic approach so that GRC activity is no longer fragmented but instead provides an integrated, centralized and uniform view. It approaches enterprise risk management by providing a set of process-based services, enabling the right technology and providing measurable outcomes via a GRC Control Center which provides a hub for driving uniform compliance and pro-active risk assessment across multiple geographies and multiple functional areas (access control, finance & accounting, legal & regulatory, tax compliance, operational and IT), without duplication of efforts.
Based on Capgemini's Global 1 Capgemini's Global Process Model documents best practices for every operational business process Process Model and leveraging the BPOpen technology2 platform, the new GRC-as-a-business-process service intends to enable proactive risk assessment, deliver improved compliance and reduce costs via a framework powered by innovative tools, best-in-class processes and domain expertise including:
- A Global Process Model (GPM) Control Library — 800+ best practice controls based on hands-on experience, tailored to each customer to uncover areas for potential improvement
- Rightshore expert network — professional team of over 500 qualified Certified Public Auditors and Certified Information Systems Auditors in over 40 countries and Centers of Excellence in India, China, Brazil and Chile and local centers in North America and Europe
- Capgemini's Business Process Analytics — to enable ongoing control analytics and unveil hidden risks
Christopher Stancombe, Senior Vice President, Finance & Accounting for Business Process Outsourcing at Capgemini said, "Clearly, the demand from regulators, ratings agencies, shareholders and customers for greater transparency is rising. Moreover, governance, risk and compliance is increasingly becoming a C-level topic, as recent high-profile cases have shown that reputational damage from compliance failures can have serious financial implications.
"We are delighted to launch this new offer which intends to provide CFOs, CIOs, COOs and CEOs with a unified view of risk management and compliance across their business."