Governance, risk management and compliance (GRC) helps companies deal with security, fraud and audit functions, according to the AMR Research Inc. However, over the past several years, GRC’s role in companies has changed, providing better risk management technology and strategies. A CFO for a large firm told AMR Research that GNC provides him with the ability to observe with his eyes open, connecting the dots between risks and overall performance.
GRC Motivators
Although there are many different motivators for implementing GRC, risk management continues to be the number one motivator among companies. Smaller companies appear to be more sensitive to risk motivators, according to AMR Research (companies with less then 5,000 employees).
Future Trends
GNC investments have consistently risen since 2008. Companies focusing on implementing GNC are looking for new ways to mitigate risk. For example, transaction monitoring software is being used to enforce corporate travel and entertainment spending, which reduces exposure to fraud and brand risk. Segregation of duty systems are also being created to minimize risk. As companies continue to focus on GNC, spending will increase in the future. Companies will also focus on technically that drives down risk, while previously they focused on technology that only monitored risk.
Resource:
John Hagerty and Bob Kraus. “GRC 2010: $29.8B in Spending Sparked by Risk Visibility and Efficiency.” AMR Research, Inc, 2009.
1
Posts: 1
Reply #1 on : Fri July 09, 2010, 07:00:56
Write a comment