Companies that do not effectively use GRC technology or align its use to their broader business strategy may find themselves confronting any one of the following challenges:

These challenges will have a direct impact on a company’s ability to gain a comprehensive understanding of their risk universe.

• Misalignment of strategic, financial and operational plans with risk governance and initiatives
• Little confidence that all risks and risk events are captured and their impact evaluated
• Inability to proactively and sustainably manage and report strategic, financial, technology, compliance and operational risks
• Lack of top-down and bottom-up risk practices integration and consolidation
• Costly response to compliance and risk events and failure to quantify cost of risk management
• Lack of adequate data protection and information securities of critical financial and non-financial information

Without a true understanding of all the risks it faces, the company cannot make strong strategic and tactical decisions that propel sustainable cost efficiencies, accelerate performance and drive profitable growth.

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