"GRC (Governance, Risk Management and Compliance) is the term used to describe the company’s approach in addressing risks, staying compliant and managing the company’s direction and GRC strategy helps to streamline business risks accordingly. GRC is a set of practices and processes that runs across multiple departments and functions. Many companies have a dedicated GRC team to manage the GRC tools and platforms. GRC helps to avoid the consequences of silos in the governance, management and assurance of the business attributes."