Hypatia categorizes GRC software technology as either an integrated suite of tools, point solutions, platform or a cloud based architecture designed to facilitate enterprise convergence of both IT and enterprise GRC capabilities. This viewpoint is predicated on the ability of vendors to deliver solutions based not only on solving specific issues, but solutions that flexibly address at a holistic and integrated level all of the interlocking and interwoven governance, risk, and compliance issues that companies face no matter where or in what industries they do business.
According to Howard Baldwin, senior analyst and co-author of this study, “Some vendors offer GRC for the enterprise, known as eGRC, focusing on strategic and operational risk management. Others offer what’s known as IT-GRC, focusing on monitoring access and communications for compliance. The fact that both branches of GRC use technology to automate highly complex processes is confusing to most organizations.”
Leslie Ament, vice president, senior analyst and co-author shared, “Organizations invest in GRC more often as an insurance policy against unforeseen financial, legal, regulatory and operational threats rather than for a tangible return on investment. Our assessment is that this is about to change as companies move from investing in GRC merely to comply with annual audits, industry or regulatory standards to proactive decisioning grounded in strategic GRC. The products that will best serve those efforts will incorporate facets of both traditional IT-GRC and eGRC, encompassing everything from the security of data access to insight for risk management.”
Over 440 respondents with direct accountability for selection or use of GRC software and services contributed to this primary research study. Respondent segmentation is 70% large enterprise >$1B, 23.6% mid-market and 7.3% SMB. This primary research study is available for purchase online at http://store.hypatiaresearch.com. Vendors covered in this research may contact JoeA@hypatiaresearch to inquire about licensing.
Industry analyst firm Hypatia Research, LLC http://www.HypatiaResearch.com delivers high impact market intelligence, industry benchmarking, best practice, and vendor selection research for how businesses use technology and service providers to capture, manage, analyze and apply customer intelligence to enhance performance and to accelerate growth. Coverage areas include: CRM, Business Intelligence, Customer Analytics, Social Media, Marketing Automation, Database Marketing, and Information Management, GRC, Customer Data Integration and Quality. Since 2001, clients have relied on us for industry insight, expertise and independent market research for guidance in assessing various technology and service options. Hypatia of Alexandria (circa. 370-415 AD), was the first woman to make substantial contributions to the development of astronomy, mathematics, and philosophy.
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Hypatia delivers high impact market intelligence, industry benchmarking, best practices, technology vendor selection, and ROI assessment services for end-users of CRM, Business Intelligence, Analytics, & Customer Data Management/Data Quality solutions.