Infor GRC (Governance, Risk, and Compliance) is a comprehensive solution designed to help organizations monitor risk, enforce compliance policies, and strengthen internal controls across their entire enterprise system. By automating key compliance processes and providing real-time visibility into user access, financial controls, and policy violations, Infor GRC supports proactive governance and reduces the risk of non-compliance.
In this article, we’ll explore the key features, benefits, and best practices for leveraging Infor GRC to enhance enterprise-wide compliance and risk management.
Key Takeaways
- Infor GRC provides a centralized hub for Governance, Risk, and Compliance, enabling real-time risk assessments that enhance decision-making for CFOs and risk officers.
- The platform supports tailored risk management through various methodologies and real-time tools, ensuring organizations stay ahead of evolving threats and compliance requirements.
- Integration with Infor OS automates compliance activities, enhances policy management, and streamlines audit processes, resulting in a cohesive and efficient approach to governance.
Streamlining Governance and Compliance with Infor GRC
Governance, Risk, and Compliance (GRC) are crucial for maintaining secure business operations and organizational compliance. Infor GRC effectively manages these critical areas by providing a robust foundation to mitigate risks and streamline compliance. This platform enables businesses to stay audit-ready, streamline reporting, and align with evolving regulatory requirements, all from a single, centralized dashboard.
Infor GRC provides real-time risk assessment functionality that empowers CFOs and risk officers to make strategic decisions that protect assets, operations, and business interests. Incorporating Infor GRC functionality into your business strategy can further enhance decision-making processes and reduce overall risk.
Infor GRC’s comprehensive tools keep businesses compliant with evolving regulations and protect their interests. By integrating governance, risk, and compliance processes, Infor GRC offers a comprehensive approach that aligns with organizational objectives and drives business success.
Holistic Risk Assessment and Management
Infor GRC offers intelligent tools to help organizations identify vulnerabilities, manage operational challenges, and mitigate risks across financial, operational, legal, and reputational business areas.
Infor’s built-in risk assessment methodologies, including qualitative, quantitative, and hybrid approaches, significantly enhance the efficiency and accuracy of evaluations. These methodologies allow organizations to tailor their risk assessments to their specific needs.
Adapting to new threats in the modern enterprise technology landscape requires regular reviews and updates of risk assessments to stay ahead. Infor GRC’s real-time tools, including AI-driven risk scoring and predictive analytics, help organizations stay ahead of potential risks and make informed decisions.
Smarter Compliance Oversight and Adherence
Infor GRC supports compliance with regulations like Sarbanes-Oxley and GDPR by building controls, meeting standards, and generating detailed reports. The robust risk assessment framework enables organizations to proactively detect non-compliance and streamline core compliance activities.
Additionally, integrating Infor GRC with the Infor OS platform automates security monitoring of user access and business processes. This integration ensures that compliance activities are seamlessly woven into the fabric of your risk management processes, creating a cohesive and efficient approach to governance.
Infor GRC’s user attestation functionality ensures regular reviews and updates of user access rights to meet compliance requirements. This proactive approach to compliance oversight enables organizations to stay ahead of regulatory changes and maintain a robust compliance posture.
Streamlined Policy Management
Infor GRC simplifies policy management by enabling easy definition, evaluation, logging, and review. Imagine automating the tracking of policy-related changes and logging exceptions during the policy management process. This ensures compliance and improves accountability across business teams.
Infor GRC’s integrated compliance landscape also supports the evaluation and review of policies, further simplifying compliance for key organizational processes. Regular sign-offs on policies ensure ongoing compliance with regulations, making policy management a seamless and efficient process.
Enhancing Audit Processes with Infor GRC
Infor GRC enhances audit management by aligning processes with organizational objectives, efficiently managing cycles, and involving process owners in reviews. This comprehensive approach simplifies audits and allows for quick correction of identified issues.
Advanced Access Manager
Infor GRC’s user access management features automate user provisioning and maintain compliance with thorough audit trails. This tool ensures that access approvals and role changes are automated, analyzing requests for control violations and maintaining an audit trail to maintain compliance. Regular audits and reviews of user access rights are crucial in maintaining effective segregation of duties.
Role-based access control in Infor GRC ensures users access only the information necessary for their job functions. This reduces the likelihood of fraud or error and ensures compliant user provisioning and SoD violation prevention.
Real-time Control Violations Monitoring
Infor GRC enables real-time monitoring of control violations, critical for timely risk management. Businesses can continuously monitor transactions and master data to detect anomalies and control violations.
Alert systems in the platform notify users of control violations as they occur, providing immediate visibility into critical system issues. These alerts facilitate timely responses from decision-makers, enabling swift actions to address control violations and maintain compliance.
User Role Certification
Infor GRC Certification Manager automates user and role reviews to ensure compliance. This feature enforces consistent reviews to meet compliance requirements and supports custom certification processes tailored to specific organizational needs.
Automating user and role reviews ensures continuous monitoring and updating of access rights to reduce compliance user provisioning risks and enhance overall governance.
Transaction and Data Monitoring
Infor GRC’s automated monitoring features detect potential fraud and compliance violations, ensuring that businesses can quickly identify fraudulent activities, reduce financial leaks, and enhance overall process efficiency.
When control violations occur, the system generates alerts and detailed reports for decision-makers, providing the necessary information to address issues promptly. This proactive approach to monitoring ensures business teams can effectively detect and manage anomalies, master data changes, and duplicate data.
By closely monitoring transactions and data, businesses can safeguard their assets and maintain a high level of operational efficiency. Infor GRC’s robust monitoring capabilities are a game-changer in the fight against fraud and non-compliance.
Machine Learning for Vendor Risk Management
Infor GRC leverages machine learning tools to screen vendors against regulatory sanction lists, identifying potential risks and ensuring compliance. This machine-learning-based watchlist helps detect rogue vendors by referencing various regulatory sanction lists.
Screening vendors against regulatory sanction lists helps mitigate risks of engaging rogue vendors. This modern approach to vendor risk management improves accuracy and efficiency, safeguarding your organization from potential threats.
Implementing Segregation of Duties
Implementing segregation of duties (SoD) is essential for mitigating critical organizational risks. Ensuring no single individual controls all aspects of a financial transaction protects organizations from fraud and errors. Establishing clear policies and procedures for roles and responsibilities helps organizations implement and maintain effective SoD regulations within their Infor GRC landscape.
Infor GRC’s automated monitoring detects issues in user access and business processes, identifying SoD violations and potential fraud through search capabilities. Detective controls and pre-configured rules oversee business processes such as procure-to-pay and order-to-cash, ensuring compliance and security across key business units.
Combining Infor GRC and Infor OS automates user access monitoring, detecting potential fraud and SoD violations. This integrated approach enhances overall governance, allowing organizations to collaborate in protecting their assets and optimizing allocation.
Key Benefits of the Infor Landscape
Centralized Compliance Oversight
Infor GRC, integrated with Infor OS, provides a unified platform to manage risk, governance, and compliance activities across the enterprise, improving visibility and control through a single interface.
Real-Time Access Monitoring and Control
With seamless integration across Infor’s GRC and OS landscapes, organizations can monitor user access in real time, identify policy violations, and enforce security protocols across applications, reducing the risk of unauthorized or malicious activities.
Automated Policy Enforcement
The Infor GRC platform automates compliance checks and workflows, ensuring that business rules, segregation of duties (SoD), and audit requirements are consistently enforced, further reducing the need for manual intervention.
Enhanced Audit Readiness
Infor GRC simplifies audit preparation by maintaining detailed records of controls, access changes, and compliance activities, reducing manual reporting time, and increasing confidence during audits.
Improved Decision-Making Through Embedded Analytics
By leveraging Infor OS’s data fabric and analytics tools, GRC users can access actionable insights into compliance performance and risk exposure, helping leadership make informed, proactive decisions.
Get Started with Infor Experts
Whether you’re implementing Infor applications for the first time or optimizing existing configurations across your OS landscape, Surety Systems brings extensive knowledge and experience in the Infor landscape to help you design efficient workflows, configure automated controls, and align the solution with your internal policies and regulatory requirements.
With guidance from our senior-level Infor consultants, your organization can streamline audits, reduce compliance risks, and ensure your Infor GRC environment is fully integrated with Infor OS for real-time monitoring, strategic insights, and business growth.
Contact Us
For more information about our Infor consulting services or to get started on a project with our team of expert consultants, contact us today.
Frequently Asked Questions
What is Infor GRC?
Infor GRC is a robust solution that helps organizations effectively manage governance, risk, and compliance through tools for risk assessment, compliance oversight, and policy management. It streamlines processes to enhance overall organizational integrity and accountability.
What are the benefits of using the Infor OS platform with Infor GRC?
Utilizing the Infor OS platform with Infor GRC significantly enhances the integration of compliance activities and risk management, resulting in greater efficiency and improved security. This synergy is crucial for organizations looking to streamline their governance, risk, and compliance efforts.
How does Infor GRC use machine learning for vendor risk management?
Infor GRC employs machine learning to screen vendors against regulatory sanction lists, effectively identifying potential risks and ensuring compliance. This approach enhances vendor risk management by automating and streamlining the risk assessment process.
What is the role of the Advanced Access Manager in Infor GRC?
The Advanced Access Manager in Infor GRC automates user provisioning, access approvals, and role changes, thereby ensuring compliance and maintaining thorough audit trails. This facilitates a more efficient and secure user management process.
