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Introduction

The increase in enterprises’ compliance-related burden has led to a rise in related spending to deal with the greater scale of work required. There are significant pressures for efficiencies in GRC operational areas.

Highlights

  • The capability to deal with risk and regulatory or legislative issues generally is a key differentiating capability that can avoid sizable financial impact due to non-compliance, and better enable organizations to enter new markets or adopt new business models.

Features and Benefits

  • Ovum advises enterprises to decide on what GRC use cases they wish to implement, looking ahead as far as possible.
  • Understand that these requirements should be mapped against GRC solution coverage, taking into account the value and of existing technology usage.

Key questions answered

  • How should my organization approach the growing regulatory and compliance burden?
  • What insight can my organization gain from other organizations' experiences, and on using best practice?

Table of contents

Ovum view

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

Enterprise GRC needs are still increasing

  • A range of drivers continue to change the GRC solution market
  • The increasing compliance burden has created specific pressures on organizations

GRC programs must address a very broad range of needs

  • Different compliance requirements apply across vertical industry sectors
  • Some compliance requirements apply to multiple types of organization across market sector boundaries
  • GRC practices can also deliver on more general corporate aims
  • GRC processes are distributed in different ways across different types of organization
  • Integrating GRC-related processes has significant benefits

GRC solutions need a number of foundational capabilities

  • The “platform” approach is just one way to offer foundational capabilities
  • Ovum’s model of foundational GRC solution capabilities

Enterprises need to consider a range of solution adoption issues

  • Business ownership
  • Business process change
  • Solution scale can be a significant challenge
  • Taking on board GRC automation requires cultural change
  • The SaaS option
  • Deciding not to adopt a GRC solution may be a valid option

Appendix

  • Methodology
  • Further reading
  • Author

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