OpenText Governance, Risk Management & Compliance

An enterprise-wide platform that provides content management, process management, regulatory and compliance functionality to establish a controlled environment

OpenText Governance, Risk Management & Compliance is a suite of applications that act as a central nervous system to capture, track and report on regulatory and corporate policy requirements. This platform provides the tools needed to embed compliance and governance into day to day business activities. The solution helps position the enterprise to meet ongoing regulatory requirements, identify risks while at the same time gather information that helps proactively run the business.

Regulations now require companies to document their business processes, identify risk, define “internal controls” to mitigate risk and demonstrate the effectiveness of these controls. The discipline of governance, risk, and compliance should be viewed as related functions, with common activities, best approached in a comprehensive, integrated manner. Common information, processes, and systems can be leveraged to help address all three, so they no longer live separate “lives”.

OpenText Governance, Risk Management & Compliance can help overcome the inertia of “silos”— organizational, functional, and process silos — and reduce the challenge of tracking, monitoring, reporting and auditing on overlapping and conflicting regulations. It is not enough to merely implement policies and procedures. Organizations need to have a framework to help manage these processes and controls while meeting reporting and auditing demands. In addition, firms must have the ability to share information by firm, senior management or individual and ensure the appropriate employee education and competency.

Features

• Manage all content, across the enterprise Built on the foundation of the OpenText Enterprise Content Management (ECM) Suite, OpenText Governance, Risk Management & Compliance enables organizations to implement a comprehensive approach to managing enterprise content, leveraging such features as workflow and process automation, notifications, configurable metadata, version retention, auditing of all document events, and a nine-level permissions model.
• Enforce compliance and internal controls Through OpenText Internal Controls, the solution helps companies to document thier internal controls & framework (COSO), and provides tools for testing and assessment, as well as for capturing issues (deficiencies) and tracking them through remediation. The solution also allows for scoping, reporting and roll-up of this information by the business unit and reporting period.
• Manage risk more effectively OpenText Governance, Risk Management & Compliance leverages the proven OpenText Risk Management application to provide users with simple tools to measure the overall impact of a given risk based on type, severity, and probability of occurrence. Organizations can apply risk calculators or risk matrices to accounts, processes, control activities, risks/control objectives, assessments, deficiencies and tests. Automatic notifications can be sent to a user or group when a certain risk level has been identified.
• Address both employee training and regulatory compliance issues OpenText Governance, Risk Management & Compliance draws upon the rich feature-set of OpenText Accreditations Server - a fully integrated employee compliance solution that enables companies to address both employee training and regulatory compliance issues. With this solution, organizations can manage the end-to-end process of defining, tracking, storing, and reporting employee certifications and regulatory licensing requirements. Implementing employee training programs is greatly simplified with the solution's ability to manage the end-to-end process of employee training through publishing, managing, tracking, and assessing employees’ comprehension of corporate learning content. The solution also contains a rich data model for linking users, courses and regulations.
• Open system/compliance platform OpenText Governance, Risk Management & Compliance is built using open standards enabling it to integrate seamlessly with other business applications in your IT ecosystem, such as Records Management solutions.