The future role of supervisory boards
GRC (Governance, Risk and Compliance) reporting is always a challenge - especially in the context of board communication. Isolated reports from various business areas can hardly serve as a solid basis for strategic decisions. The objective is to integrate these individual reports. The increasing advisory aspect of the supervisory function also requires fundamental changes in the areas of reporting and communication. Especially concerning information from governance, risk and compliance processes - such as risk reporting, internal control system report, compliance report, audit report. A rethinking to new principles is required to successfully meet these challenges:
Focused: Funneling key insights from a flood of information
Linked: Creating one view across the organization by combining isolated information and putting it into context
Insightful: Integrating fragmented reports to a full view of the entire organization
Forward-looking: Reporting trends and possible future scenarios instead of just the status quo
Digital: Generating top-quality reports with a focus on information and not just documents
Collaborative: Promoting ongoing collaboration instead of just meeting-related correspondence
Through Visionary Board, we aim to understand the needs and challenges of supervisory and board members, in order to optimally support their activities with optimized GRC reporting. The role of supervisory board members is changing more and more in the direction of an advisory function. This development is significantly supported by integrated reporting. For the board, integrated GRC reporting provides significant added value as a basis for strategic decisions.
Would you like to be informed about future activities of our Visionary Board initiative? We will be happy to contact you if there are any news!
We are driven by our belief that the sustainable success of innovative organizations is strongly influenced by a profound enterprise Governance, Risk and Compliance (GRC) strategy. As a vendor of GRC solutions, we center our efforts on enabling European companies to recognize GRC as a core value driver in enterprise management. As a partner, we support our clients to continually develop the maturity of their organizational processes.
Our software solutions enable the digitalization of GRC processes and anchor them efficiently within the organization. Our software platform risk2value builds a bridge between operational levels and top management by allowing them to link different GRC information across multiple business functions so that they develop a common frame of reference for transparent decisions on various management levels.
The largest and most successful energy providers, insurance companies, banks, telecommunication companies and retailers place their trust in us and run their GRC processes on the GRC platform risk2value.
We look forward to hearing from you!
Contact us to receive more information.