Last week, Reciprocity’s resident GRC expert, Aaron Kraus hosted a webinar along with Tim Schmutzler, who heads up the GRC practice at OneGlobe. Titled “Competent Compliance: 3 Ways to Move Beyond Spreadsheets,” Aaron and Tim talked about how to overcome the early hazards of running a compliance program, the pitfalls of Microsoft Excel as a compliance tool, and when and how to move to a cloud-based GRC tool.
Some key highlights from the discussion:
- Every compliance program will eventually outgrow Excel. While Excel has many strengths, it wasn’t meant to manage compliance initiatives. As your program grows in scope and complexity, your manual, spreadsheet-based system will become unmanageable.
- You CAN manage your compliance program more efficiently with these three easy steps. Consolidate your compliance controls. Track and communicate your compliance ROI. And use a SaaS-based GRC tool.
- If you’re ready to move from spreadsheets to a GRC tool, start small, get some traction and success and then grow your implementation in stages. And don’t forget to communicate openly and often with everyone involved in your compliance program–management, internal audit, risk owners, control owners, and external auditors.