Strategic Focus: Why A GRC Tool Is Crucial For SMEs
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Executive Summary
Despite governance, risk and compliance (GRC) platforms being around since the early 2000s, for a long time, the customer market was centred on large enterprises in highly regulated industries. However, in recent years, small to medium-sized enterprises (SMEs) have increasingly adopted GRC tools. This report examines the drivers behind this shift and finds that GRC software is indispensable for SMEs looking to stay competitive in an evolving regulatory landscape and maintain real security amidst the growing complexity of data governance and cybersecurity practices. As AI-driven GRC tools become mainstream and growing geopolitical uncertainties exacerbate risks across supply lines, SMEs must leverage these platforms to streamline operations, mitigate risks and align themselves with regulatory changes to ensure business continuity and sustainable growth.The new regulatory landscape demands GRC tools
A GRC tool is essential for both SME growth and survival
SMEs’ supply lines will be hit hard by geopolitical friction
About the Authors
Tom Murphy
Analyst
Tom is an analyst at Verdantix, specializing in third-party, GRC, reputational and geopolitical risk. His current research agenda focuses on how organizations can insulate the...
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Katelyn Johnson
Senior Manager
Katelyn is a Senior Manager at Verdantix, specializing in enterprise risk management and external risk and resilience. She helps executives navigate today’s evolving ris...
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