How GRC Solutions Can Improve E-Governance?
With ever increasing regulations by various Governments in ensuring information security and privacy data, and from a standards perspective in the competitive scenario, enterprises have by and large been following a strategy of remaining compliant with regulations or standards, as non-conformance could result in major losses and at times even shutting down the business. Governments have no such major risks. If a federal agency fails to comply with FISMA Compliance, for instance, the agency may face a budget cut! That’s all! Contractors that exchange data with federal information systems must comply with FISMA, HIPPA Compliance or risk termination from a contract. Non-compliance may preclude contractors from bidding on future federal contracts.
A poor FISMA grade is a sign that an agency may be especially vulnerable to cyber attack. In 2005, an agency with one of the lowest FISMA grades suffered a major security breach, resulting in the theft of personal identity information from millions of U.S. citizens. After the breach, at least one agency official resigned, and another was placed on administrative leave. This incident might have been prevented if FISMA security protocols were in place.
One of the primary functions of the government is good governance, and with IT enablement, eGovernance is a big boon in terms of providing a level playing field to all citizens in terms of services whether B2C or B2B. Different Governments the world over have been adopting different models of eGovernance resulting in silos of solutions in the different departments / agencies of the Government and the Centre / Federal Government having very little perception in a holistic manner.
With many Government sites getting hacked routinely, Governments have woken up to the fact that need to strengthen their security framework, ensure compliance to various regulations and standards through compliance audits and take up remedial measures where required. IT-GRC is making inroads into the Governments now!
Governance, Risk and Compliance (GRC) have become an indispensable part of a transparent and reliable e-governance system. With the right processes, strategies and supervision, better efficiency can be achieved. And this efficiency can further be enhanced by implementing automated GRC solutions. These solutions help overcome compliance challenges by effectively mitigating risks. Many governments across the globe have successfully implemented e-governance, and this has proved beneficial both to the government, and to citizens.
Benefits Offered by GRC Solutions for E-Governance
Here’s how an integrated, automated GRC platform can improve e-governance:
- Swifter & Improved Governance through effective Decision Making: Automated GRC solutions are capable of improving the decision-making capabilities of government organizations as there is improved access to knowledge and information.
- Risk Mitigation: Risks can be reduced once automated GRC solutions are enabled. GRC software solutions come with a built-in risk management and intrusion prevention system, which is capable of monitoring processes, detecting risks/intrusions and reporting them promptly.
- Fosters Innovation & Enhances Agility: By using automated GRC solutions, long drawn, dreary manual practices are reduced, thus ensuring scalability, flexibility and agility in processes.
- Reduces Rework: With automated governance risk and compliance procedures, audit trails are performed to ensure that there is no duplication or repetition of tasks.
- Managing Strategies: It helps develop and implement government strategies effectively, and can ably assist in the preparation of projected reports.
- Assist in Preparing Reports: It can help preparing reports of different kinds be it technical, operational or even legal, and can also assist various government departments in standardizing elements of data.
- Brings About Seamless Integration: It helps in flawless data exchange and makes integration with multiple applications and technologies much easier.
- Effective Project Management: GRC solutions are capable of bringing about a high level of efficiency in project management.
Most importantly with automated GRC solutions, there is improved transparency, and convenience. Government departments become more empowered, and this results in revenue growth, and cost reduction. A contemporary IT infrastructure can therefore effectively create streamlined processes thereby ensuring efficiency in planning, budgeting, tax and revenue streams, grants management etc. Once these processes are built on advanced technology, e-governance achieves an all new level, ensuring better service for citizens.
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