Governance: A holistic approach
One of the greatest benefits of adopting a holistic governance, regulation and compliance approach is that the process brings otherwise siloed corporate functions together to identify potential governance issues, business risks and compliance challenges. Rather than assembling response teams during a crisis, companies instituting enterprise-wide GRC controls collaborate to identify potential risks.
Customer relationship management emerged as a concept in the 1980s and 1990s as companies attempted to increase the effectiveness of their sales forces. Smart businesses began thinking across functional divisions about how CRM affects new product development, market outreach and customer satisfaction. With these changes, the customer's role became central, and day-to-day employee interactions began to reflect this shift. Automated processes were critical to this transformation, enabling increased information security and control while facilitating collaboration within and between companies and their customers.
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