Implementation of a Governance, Risk and Compliance (GRC) Solution

The purpose of this procurement is to purchase a scalable and adaptable GRC system which provides a single, end to end solution to uplift PIRSA’s risk and audit management, governance capabilities and improve operational efficiencies.

PIRSA currently uses manual processes (reliant on spreadsheets) for risk management, audit management, compliance and governance activities, and the associated reporting on these activities. This has resulted in inefficiencies and challenges in maintaining data accuracy and producing reporting.

By implementing a GRC solution, PIRSA can enhance governance, risk, compliance and audit management capabilities, leading to a higher level of analysis to underpin and support strategic and operational decision making.

A GRC will provide the following benefits:

•  Accuracy of governance, risk, compliance and audit information facilitating quick and better-informed decision-making.
• Centralised view of risk is provided with standardisation and consistency to executive leadership teams to enable understanding of department-wide risks more clearly, while also providing owners at the business unit level with the autonomy to independently assess and manage their own risks.
• A transparent ‘single source of truth’ to staff, managers and auditors.
• Ability to efficiently record, manage, monitor and track information, and assign relevant tasks to action owners.
• Improved reporting capabilities.