IT governance is all about how decisions are made, who makes the decisions and who is to be held accountable; et al. IT risk deals with threats at every stage and in every area of the enterprise. Risk related to identity management- who has access to what, is the biggest question posed before the organization. IT compliance is about adhering to laws and regulations, primarily due to large data security and privacy requirements, like the ones demanded by financial compliance, healthcare compliance, Insurance compliance etc. Traditionally these components were dealt individually. But with IT GRC a holistic approach is gaining in popularity.

Identity access managementgovernance will help organizations reduce risk by controlling identity related information. It will deal to a great extent with identity auditingand management, i.e. how identity access information are used, stored and propagated between their systems. It will help organizations to define policies that will ensure sensitive personal information being shared securely and confidently between various applications in the organization. This will help organizations to keep a tab on who has access to what inside the enterprise.