In the dynamic and ever-evolving business landscape, Small and Medium Enterprises (SMEs) face a multitude of governance, risks and compliance (GRC) requirements that can potentially hinder their growth. A trusted business advisor, like accountants, lawyers, insurance brokers and Managed Services Providers (MSPs), can provide invaluable expertise to navigate this terrain. However, the advent of sophisticated software tools, specifically automated GRC management systems, is game-changing. They offer a scalable, cost-effective solution for managing GRC that can propel the growth of SMEs.
One such platform leading the wave of this transformation is ours… Certified By. A unique Software as a Service (SaaS) and Artificial Intelligence (AI) enabled platform, we provide an integrated solution for automated GRC management, designed to address the specific challenges SMEs face around cyber security, health & safety, people and culture, modern slavery, sustainability and so much more.
The Need for Automated Governance, Risk and Compliance Management in SMEs
While the GRC function is a critical part of all businesses, SMEs often grapple with limited resources to handle these aspects effectively. Unlike large corporations that can maintain specialised GRC departments, SMEs may struggle to manage these tasks in-house. Furthermore, the ever-changing regulations across industries and jurisdictions make it difficult for SMEs to keep up and maintain compliance.
Automated (and affordable) GRC management systems, like Certified By, are critical in such scenarios. They enable SMEs to understand and measure themselves against best practice standards, identify potential risks, and automate the many tasks associated with minimising risk and maintaining compliance, all without needing a large in-house team or extensive resources.
Benefits of Automation in Governance, Risk and Compliance Management
- Improved Efficiency: Automation streamlines and accelerates the GRC management process. For example, our platform can quickly diagnose potential risks and recommend remediation actions, thereby reducing the time and effort required to manually identify and address these issues.
- Reduced Risk of Errors: Automation reduces the risk of human errors that could result in non-compliance or unidentified risks.
- Real-time Monitoring: Automated systems provide continuous, real-time monitoring of business activities and processes, ensuring a proactive approach to GRC management.
- Scalability: As the business grows, the complexity of GRC tasks also increases. Automated systems can easily scale up to match this growth.
Role of Business Advisors in Integrating Automation Tools
Trusted business advisors play a pivotal role in the adoption of automated GRC management tools by SMEs. They can guide SMEs in identifying the right tools that align with their business requirements, oversee the integration of these tools into their operations, and provide ongoing support to maximise the utility of these tools.
Furthermore, advisors can leverage these automated systems to enhance their own service offerings. By providing their SME clients with a diagnostic and remediation tool, advisors can not only help their clients to minimise risks and manage compliance more effectively but also deepen their relationships with these clients by providing more strategic, value-added services.
Case in Point: Certified By
Certified By exemplifies the potential of automation in GRC management. Our SaaS and AI enabled platform provides an all-in-one solution for advisors and their clients, with features like real-time smart assessments, diagnostics and risk reporting, an action management module with remediation recommendations, a digital library and marketplace of trusted partners. By integrating our white-label solution, advisors can be at the forefront of helping their clients effectively manage their GRC obligations supported by us in the back end.
Conclusion
In an increasingly complex and regulated business environment, trusted business advisors can empower their clients by automating and simplifying the GRC function. Certified By stands as an exemplary tool that harnesses the power of automation to minimise risks, manage compliance, build trust in brand and power growth for SMEs.
As we step into the future of business, the integration of automated systems will become indispensable. These solutions not only simplify and optimise GRC management but also unlock new growth opportunities by freeing up valuable resources. For SMEs, this represents a strategic investment that pays off in improved operational efficiency, enhanced compliance, and a competitive edge.
For business advisors, recommending and assisting with the implementation of such automation tools underscores their commitment to client success. It also amplifies their role beyond traditional advisory services, positioning them as strategic partners instrumental in shaping their clients’ growth trajectory.
In an era characterised by rapid regulatory changes and heightened business risks, embracing automated risk and compliance management tools is no longer an option but a necessity for SMEs. Certified By is leading this change, setting a new benchmark for affordable GRC and ease of adoption. By leveraging such platforms, SMEs and their trusted advisors can together navigate the complexities of today’s business landscape and power ahead towards sustained growth.
To see how Certified By can work for you, visit https://safeguardingyou.com/
