The collaboration between NAVEX’s governance, risk and compliance (GRC) platform, NAVEX One, and BDO’s client services is designed to enhance efficiency and minimize risks. This partnership aims to satisfy the GRC needs of businesses across both public and private sectors.

BDO and NAVEX Team Up for Enhanced GRC Solutions

NAVEX seeks to provide its customers with a comprehensive suite of risk management and compliance solutions. By focusing on growth drivers, these tools will support the business objectives that lead to long-term value.

BDO’s partnership with NAVEX is aimed at aiding businesses in integrating people, processes, and technology to manage ethics and compliance risks effectively while ensuring adherence to relevant legislation.

Benefits of GRC

Companies that lack a well-established governance, risk, and compliance (GRC) framework may be vulnerable to financial, legal, and reputational risks. Without such a program, organizations run the risk of facing fines, legal complications, and a loss of trust from customers and stakeholders.

GRC tools help businesses identify, assess, and prioritize various types of risks—financial, operational, cybersecurity, and more—more efficiently. This proactive approach minimizes potential threats before they become critical issues.

Governance, risk, and compliance processes can often be disjointed and time-consuming. By unifying these processes into a central GRC platform, collaboration between teams and business units is fostered, leading to improved communication and workflow efficiency.

A key component of GRC frameworks includes features for compliance management that assist organizations in tracking regulatory changes and maintaining ongoing compliance. Automated checks, documentation, and audit trails make it easier to identify and address compliance gaps proactively.