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. 

Table of contents

GRC software is crucial for SME resilience
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

Table of figures

Figure 1. Drivers of GRC platform adoption for SMEs

About the authors

Tom Murphy

Analyst

Tom is an analyst in the Verdantix Risk Management practice. Prior to joining Verdantix, he worked with a think tank where he researched small-scale southeast Asian territorial disputes. He holds a Master's degree in Geopolitics from the University of Sussex, where he specialised in contemporary China - Taiwan relations.

Katelyn Johnson

Senior Manager, Risk Management
Katelyn is the Senior Manager in the Verdantix Risk Management practice. Her current research agenda focuses on climate risk and its integration into risk management frameworks. Prior to joining Verdantix, Katelyn was a climate scientist at GNS Science in New Zealand. She has previously held roles in the energy industry, where she helped projects manage risk due to weather and ocean phenomena. Katelyn holds a PhD in Geology from Victoria University of Wellington and an MS in Earth Sciences from Ohio State University – both focusing on climate science – as well as a BS in Meteorology from Texas A&M University.

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