Hypatia Research Group Publishes Enterprise Governance, Risk & Compliance Solutions: Risk and Reward
"Our research analysis demonstrates that even the letters in the abbreviation GRC are not created equal. The concepts may have been equivalent at one time, but today, risk is beginning to overshadow governance and compliance." -Hypatia Research Group
"Uncertainty creates challenges,"
Co-Author Leslie Ament, Chief Research Officer and SVP, added, "Our assessment is that even the letters in the abbreviation GRC are not created equal. The concepts may have been equivalent at one time, but today, risk is beginning to overshadow governance and compliance."
Hypatia Research surveyed more than 2000 global practitioners and executives directly involved with governance, risk, compliance and security functions at their organizations. Only the 510 respondents that actually utilize, recommend, influence, hold budget or veto power over the purchase of this software category were utilized in our analysis of how, why or when organizations:
• Invest in GRC and ERM software solutions — and how much is budgeted through 2020?
• Measure productivity and effectiveness of these initiatives and how often?
• Seek analytical functionality and features to mitigate impending risk?
• Prioritize specific initiatives against software selection criteria?
• Approach selection of enterprise platforms versus modules versus point solutions versus multiple options?
• Short-list and ultimately select certain vendors or management consulting firms over others.
Global Survey Respondent Profiles
Functions: primarily in accounting, audit, compliance, corporate strategy, customer service, data governance, finance, fraud, legal, operations, procurement and supply chain, IT governance, risk, compliance and security, and business intelligence analysts completed our survey. Company size encompassed:
§ C-Level & EVP 26.5%
§ Director/Manager 13.8%
§ Supervisor / Team Leader 17.8%
§ Team Member 36.7%
Geographic breakdown: (44.4%) EMEA, (33%) North America, (21.8%) Asia Pacific and (0.9%) South America. Industry breakouts are: Retail/CPG (21.4%), consumer goods & electronics (12.6%), financial services (12.3%) business services (10.1%), and manufacturing (9%) comprised the largest industry sector representation followed by hospitality, travel and leisure (7.6%).
Industry analyst and market research firm Hypatia Research Group http://hypatiaresearch.com/
The report is available now at http://hypatiaresearch.com/
Zvi Ruder, SVP Operations & Intellectual Property