Polivec Inc. has released Polivec Enterprise Governance Solution (EGS) 5.0, a policy-driven governance, risk and compliance (GRC) application that enables organizations to control the process of complying with the ever-increasing number of government regulations and industry standards. The application sits on the server and links policies (whether external government regulations or industry standards) to specific tasks. EGS 5.0 allows companies to continually assess and report on the organization’s progress in adhering to external regulatory and legal requirements as well as internal policies and directives; integrate creation and control of business policies, making governance and compliance documents actionable and subject to review and management; communicate policies and requirements to employees, partners, outsourcers and other third party vendors; track and manage manual activities that have an impact on compliance; and incorporate information from IT systems into the regulatory compliance context.
EGS 5.0 centers on the consists of four modules, which addresses a specific governance aspect:
- The Policy Center, which acts as the repository for regulatory documents, policies, best practices and procedures, features a mapping engine that links policies with regulations. This allows users to identify any area of non-compliance and areas where regulatory requirements overlap.
- The Awareness Manager, which automates the distribution of policies, records employee acceptance and measures comprehension through regular testing,
- The Technology Manager, which connects EGS to the IT systems, allows for quick action.
- The Activity Manager creates, monitors and audits individual employee tasks to achieve and maintain compliance.