By Rob Starr, Big4.com Content Manager
Protiviti’s Governance Portal 4.3 has been designed to increase the efficiency with which organizations accomplish governance, risk and compliance (GRC) tasks across multiple business units and projects. As well, this latest offering has also been updated to help customers better align their controls with the COSO (Committee of Sponsoring Organizations of the Treadway Commission) requirements. Big4.com spoke with Scott Wisniewski, Managing Director at Protiviti, to learn more recently.
We started our conversation looking at the bigger picture.
“We want to help customers in multiple ways and that means we don’t necessarily want to provide a one-size-fits-all type of solution,” he said noting that Protiviti is exploring the dynamics the market is facing in terms of when to choose off-the-shelf software, a custom solution, or a best-of-breed approach that incorporates purpose-built applications while leveraging elements of the existing IT infrastructure.
However, Protiviti’s Governance Portal continues to be their off-the-shelf GRC application designed to drive synergistic departments together to achieve common goals. Wisniewski elaborates:
“We think that implementation of multiple software applications is often the right answer to help companies address multi stakeholder GRC initiatives where the specific needs of individual stakeholders are unique. For more synergistic stakeholder groups, off-the-shelf solutions can increase productivity in a cost effective way. The key to developing enterprise-wide programs is balancing the right mix of technology that makes the lives of individual groups easier while promoting corporate-wide collaboration and insights.”
There are several noteworthy key features in Protiviti’s Governance Portal v4.3 and they include improved ability to aggregate and report on the effectiveness of entity and process-level controls as they relate to the latest COSO standards and an overall increased departmental efficiency.
Still, Wisniewski is quick to point out that his firm can help with other scenarios where off-the-shelf capabilities aren’t the best choice.
“Where the off-the-shelf capabilities make the most sense, we’re helping companies achieve departmental efficiency through our Governance Portal,” he said. “Where there are more emerging or evolving requirements and stakeholders that don’t necessarily share a lot of synergy among each other, we help customers evaluate existing elements of their infrastructure inclusive of their existing GRC repositories, enterprise content management systems and reporting tools to determine how to best integrate these capabilities to drive a more custom solution. We find that this approach allows companies to pay for what they want, and only what they need.”
We swung back around to the latest version of the Governance Portal to reinforce Protiviti’s goals of helping their clients to achieve departmental efficiency. Improving the usability of the application as well as its collaborative capabilities and the ability to create individual stakeholder contexts were three improvements touched on.
“It’s worthwhile to envision the value that integrated GRC programs can deliver, but when all is said done, the system needs to make individual assurance groups more efficient while being easy for less frequent users to provide timely and quick inputs,” Wisniewski says. “We are focused on delivering software that helps synergistic teams work together while reducing the administrative and visual clutter that can occur when multiple teams are sharing the same system.”