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The Governance Portal, a software platform by Protiviti, has received an update. Version 3 offers enhancements to a GRC tool aimed at integrating proprietary information and expertise with a trusted framework for managing and mitigating the risks associated with compliance and regulatory issues.

From surveys and self-assessments to data collection and audit management, users can implement new features in the Governance Portal to help them manage enterprise and operational risks, optimize internal audit processes while monitoring compliance risks.

Essential GRC

The essential elements of governance, risk and compliance are featured in the updated Governance Portal, including:

  • Defining, managing and mapping policies and procedures
  • Self-assessments and surveys
  • Actual, external and virtual loss data collection
  • Audit management and risk measurement tools
  • Central repository for GRC communities

These tools enable organizations to consider both the qualitative and quantitative drivers of risk in their assessments. From financial loss, business continuity and regulatory impact, to social and human resources, customers can survey stakeholders and employees to figure out the strengths and weaknesses of their GRC framework.

By measuring performance benchmarks and risk thresholds, the Governance Portal can help assess risk across the enterprise, including scheduling and resource management, execution, reporting and monitoring/follow-up.

Balancing Performance and Risk 

Above all, organizations have the tools to make an informed and appropriate decision that seeks to balance performance with risk. Depending upon the industry and enterprise, managing a company's risk is not one size fits all.

Effective GRC relies on the customization of organization and information strategies. The Governance Portal offers flexible options and functionality designed to let companies realize their potential while mitigating risk.