The following capabilities are supported in Avanon GRC:
Culture and context- understand the current culture and the internal and external business contexts in which the organization operates, so that the GRC system can address current realities – and identify opportunities to affect the context to be more congruent with desired organizational outcomes.
Organise and oversee- set up and manage the GRC system so that it is integrated with and when appropriate modifies, the existing operating model of the business and assign to management specific responsibility, decision-making authority, and accountability to achieve system goals.
Assess and align- asses risks and optimize the organizational risk profile with a portfolio of initiatives, tactics, and activities.
Prevent and promote- promoting and motivating desirable conduct, preventing undesirable events and activities, using a mix of controls and incentives.
Detect and discern- identify actual and potential undesirable conduct, events, GRC system weaknesses, and stakeholder concerns using a broad network of information gathering and analysis techniques.
Respond and resolve- act on and recover from noncompliance and unethical conduct events, or GRC system failures, so that the organization resolves each immediate issue and prevent or resolve similar issues more effectively and efficiently in the future.
Monitor and measure- track, measure and adjust the GRC system on a periodic and ongoing basis to ensure it contributes to business objectives while being effective, efficient and responsive to the changing environment.
Inform and integrate- capture, document and manage GRC information so that it efficiently and accurately flows up, down and across the extended enterprise, and to external stakeholders.
"The primary purpose of the enterprise GRC platform is to automate much of the work associated with the documentation and reporting of the risk management and compliance activities that are most closely associated with corporate governance."
Gartner Research, 2009