The True Costs of GRC

The GRC Sphere has a mission. This is to help the industry to define the true costs of GRC. GRC activities span many areas and there has been quite a lot of difficulty in defining them. Many companies report that they have a poor understanding of their costs and this has been a major challenge because without a baseline understanding of M, L and O (material, labor and overhead) costs we are not able to set a course of action in reducing the costs.

As we are now getting ready to launch our global GRC benchmarking program, we are working furiously to define cost categories. Luckily, I have a costing background and this has been an asset. I have set up a meeting with a CFO to assist me in further detailing our costing template and if you'd be interested in working with us, let me know.