Governance, risk and compliance technology: turning risk into results
The use of GRC technology to support risk management practices has dramatically increased in the last 10 years.
Most companies still have significant opportunities to improve risk management programs by leveraging GRC technology.
This can be attributed to increased regulatory requirements, rise in board expectations and evolution of GRC technology solutions.
In the past, companies primarily focused on using GRC technology to meet short-term risk management and compliance goals and remediate audit issues related to access management, such as segregation of duties.
However, with today’s more comprehensive and flexible GRC solutions, companies are expanding their risk management programs and reaching a greater level of risk process maturity while delivering quick wins in the short term. Today’s GRC technology is not just a point solution, but comprehensive enterprise-wide integrated systems.