Governance, Risk and Compliance
Overview
Infor Governance, Risk and Compliance (GRC) is the foundation of a secure and compliant business. Infor GRC is a comprehensive approach to managing the risks, compliance, and governance of an organization. It involves the implementation of policies and procedures that ensure that the organization is adhering to applicable laws and regulations, as well as taking the necessary steps to protect its assets and operations. GRC also involves the assessment of risks to the organization, the development of strategies to mitigate those risks, and the monitoring of compliance with applicable laws and regulations. By implementing effective GRC processes, organizations can ensure that they are taking the necessary steps to protect their assets, operations, and business interests. Here is an Overview of the Infor GRC Product.
Key Concepts & Definitions
| GRC (Governance Risk & Compliance) | GRC (Governance, Risk, and Compliance) is a process used to ensure that organizations manage their business in accordance with regulatory requirements and meet their internal objectives for risk management, operations, and performance. |
| Governance | The process of implementing policies and ensuring that they are executed. |
| Risk | The process of reducing risk and uncertainty through the establishment of business objective and governance mechanisms. |
| Compliance | Adhering to the business rules, policies and guidelines whether they are internally or externally implemented. |
| Application Instance | Are the connections between the Infor GRC application and the Data lake. |
| Insights | Include the definition to classify the data to be monitored in an application. |
| Tasks | Is an execution of a process in the Infor GRC application. |
| Schedule | Is the functionality in the GRC application to analyze data and the certification process. |
| Provision | A request raised for the User Provisioning. A provision can include a user creation or modifying the access for a user. |
| Rule Book | Are a collection or group of rules. |
| Rules | Include one or more conditions to identify risks in a business process. |
| Conditions | Is a definition of a business process or a business activity. The conditions are the part of a rule. |
| Violations | Are generated when data from an application is analyzed based on the predefined conditions in a rule. |
| Mitigation | The Infor GRC function that enables the user to resolve the violations. |
| Compensating Control | Documents that contain the business justification, the processes or agreements that are used for mitigating rule violations. |
| Approval Process Template | Consolidates the stages and the approval process conditions to define an approval process. |
Component Parts
What Risk does GRC Address?
Infor Governance, Risk and Compliance (GRC) is designed to address a variety of risks, including financial, operational, legal, and reputational risks. GRC helps organizations to identify, assess, and manage risks associated with their operations.
Infor GRC Capabilities
Infor Governance, Risk and Compliance (GRC) provides organizations with a range of capabilities, including risk assessment, policy management, compliance monitoring, and incident response. GRC helps organizations to identify and assess risks associated with their operations, develop strategies to mitigate those risks, and monitor compliance with applicable laws and regulations.
GRC Workspace
The Infor GRC Workspace is a centralized hub for accessing the various GRC tools and services. This page provides users with easy access to the GRC tools, resources, and support they need to implement and maintain a secure, compliant, and well-governed business.
- The Infor GRC User Library is a collection of resources and tools designed to help users get the most out of their GRC experience. This library provides users with access to a variety of GRC-related documents
Want to learn more?
Topical videos
Need information on a specific feature, functionar a quick overview? Then short videos may be just what you are looking for. Check out our playlist on YouTube.
Written Guides
Product documentation is the go-to reference for how specific parts of the product work. For online, searchable, easy to understand docs see this component’s documentation:
- Infor Governance Risk and Compliance User Library.
- Infor Governance Risk and Compliance Release Notes 2023 (Cloud)
Community
Collaborating with others in your industry is a great way to learn and help others. Start participating in this component’s online community today!
Courses
Infor Campus offers learning tracks that combine video based and instructor led teaching. If you are an Infor customer then check out courses on Campus. We recommend the following courses specifically for this component:
- Infor: Governance, Risk, and Compliance (GRC) Overview
- Infor: Exploring Governance, Risk, and Compliance (GRC)