Market Insight: The Future Of GRC Technology
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Executive Summary
Governance, risk and compliance (GRC) describes an approach that emerged in the early 2000s as a response to the increasing complexity of managing corporate governance, risk and regulatory compliance, especially following high-profile corporate scandals and the subsequent tightening of regulations. Initially, GRC solutions were disparate systems focused on specific areas such as compliance management and risk assessment. However, the need for a more integrated approach has driven innovation in the more effective leveraging of GRC software to support the unification of these functions. This report provides insights into the top GRC trends Verdantix has identified for 2024, to help executives in risk, financial, sustainability and compliance roles navigate GRC activities in an evolving and interconnected risk landscape.
Table of contents
GRC solutions drive firms’ long-term risk management goalsGRC solutions allow firms to safely take on more risks, unlocking greater opportunities
A number of factors are driving GRC product innovation
GRC software is a key technological umbrella unifying risk management
Evolving risks call for a new model of corporate governance of people and processes
Table of figures
Figure 1. Overview of GRC technologyOrganisations mentioned
Aravo, Archer, CDP, Diligent, LogicGate, MetricStream, Riskonnect, RiskRecon, SAI360, SecurityScorecard, US Environmental Protection Agency (EPA), US Securities and Exchange Commission (SEC), WorkivaAbout the authors
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