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
The visionary board gives supervisory board members and executives the opportunity to discuss specific topics among their peers in a comfortable, laid-back setting. In 2019, these events were hosted in Austria and Germany. The results of these discussions are then communicated exclusively within the group of participants. If interested, we can share a summary from past discussions.
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.
Shape the future scope and direction of GRC reporting.
Join the discussion! Share your vast personal experience by completing a brief questionnaire that won’t take more than 5 minutes of your time! If you are interested in playing an active role in a visionary board discussion, simply contact us for more information.
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 motivated by the firm belief that digitalizing GRC processes sustainably drives the success of innovative organizations. Our efforts center on anchoring these processes efficiently in everyday business activities and corporate culture.
We achieve this through our GRC software risk2value, which offers clients a choice of flexible, custom solutions or standard solutions with minimal implementation work depending on their unique needs. With risk2value, we provide a tool that supports our clients to achieve goals reliably, cope with uncertainty, act with integrity, and continually improve the maturity of their organizational GRC processes.
The world’s largest and most successful energy providers, insurance companies, banks, telecommunications companies and retailers place their trust in us and manage their GRC processes with risk2value.
We look forward to hearing from you!
Contact us to receive more information.
Head of Marketing