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, “The companies we found most interesting are those that are already working toward converging e-GRC with IT GRC – that is, those who understand that security is a key part of both compliance and governance efforts. They also understand the importance of a holistic strategy toward creating a strong and proactive GRC stance.”
Leslie Ament, vice president, senior analyst and co-author shared, “Our analysis of over 440 GRC practicioners revealed that numerous pieces of the GRC puzzle are externally sourced from software vendors and consultancies at levels of 25% to 40%. We found this GRC expertise, which we categorized as either strategic, operational or tactical, lacking internally at many organizations—
Respondent profiles included: 70% large enterprise >$1B, 23.6% mid-market and 7.3% SMB. This research study is available for purchase online at http://store.hypatiaresearch.com/
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 accelerate growth. Coverage includes: CRM, Business Intelligence, Customer Analytics, Social Media, Marketing Automation, Information Management, and GRC. Since 2001, clients have relied on us for industry insight, expertise and independent market research for guidance in assessing various technology and service options.