The gems and jewellery industry is responsible for the quality and reliability of highly priced goods, and so, organisations may be held responsible for issues regarding the same. This may lead to lawsuits, bad media representation, reputational and financial penalties, amongst other problems. Regulatory bodies such as The Bureau of Indian Standards (BIS) and India Brand Equity Foundation (IBEF) set the compliance norms for organisations working under this industry.
It is extremely important to ensure compliance by keeping checks on related activities. GRC StackTMprovides a software-based solution that eradicates the haphazardness that one generally associates with compliance, risk management and governance, by providing industry-specific compliance reminders and updates as well as risk management strategies. There is also a provision to assess the origin of minerals and gems called the Conflict Minerals Management. Embrace GRC StackTMand gain access to all of this and more!
we will use all our combined implimentation experience in this vertical to deliver a robust GRC solution