Issue Management
Identify, Assign and Track the Resolution of Issues Related to Any Risk or Compliance Management Activity
Keeping track of issues and the context in which they arise is a key part of any effective risk management program. What are the issues? Who raised them? Who will resolve them and by when? In addition, managing issue reporting and resolution effectively requires assurance that issue status and progress toward resolution is communicated to the right people within your organization in a straightforward, secure, and timely way.
Benefits Issues Management.
- GRC Labs Issue Management gives flexibility to users for raising the issues on fly while working in Audit Management and Compliance Management etc.
- While raising the New Issue, user can select responsible entities, description of Issue, type of issue, exception type, Issue Priority, Issue Source, Issue rating, Issue impact, Issue likelihood, Loss/Gain, Issue approver etc.
- While adding the Issue, user can add the Action for Issue. This includes detail of recommanded action needs to be taken.
- Monitor the ongoing status and progress of any remediation efforts associated with issue resolution.
- Management or Board can view Dashboard to see status of all issues based on the filters like organization wise issues, user wise issues or priority wise issues etc.
Consistent Workflow
Issues identified through risk assessments, audits, compliance reviews and other GRC activities with a consistent workflow that routes findings for review and approval.
Exception Tracking
Track exceptions to findings and ensure they receive appropriate sign off and approval.
Consolidated Reporting
Quickly and easily see which issue remain open, which have been closed and which are overdue to prioritize, follow up and report to the concern team, regulators and other stakeholders.
Business Hierarchy
Establish the organization structure, accountability, workflow and reporting required to manage the findings, remediation plans and exceptions.
Co-ordination
Coordinate issues generated by risk, audit ,compliance processes and by other groups.