The Report finds that although companies have capabilities to comply with regulations and manage risks in order to meet objectives, as their global footprint gets larger and more complex, they need more mature governance, risk and compliance (GRC) programs.
GRC Maturity Is Far From Advanced
The majority of GRC programs remain immature, both in terms of process and technology. Only 40% of companies have formal programs, and even those programs tend to struggle coordinating related compliance activities and measuring risk across numerous organisational functions.
GRC Coordination Is Critical To Success
Organisations suffer when they manage risk in silos. In these environments, risks are measured inaccurately or can go unnoticed altogether. Mature GRC programs have a better understanding of this problem; they integrate risk data fro various business functions to better address the real way risks interconnect with and compound each other.
Risk Technology Adoption Is On The Rise — And That Trend Will Only Continue
GRC platform adoption rates have more than doubled over the past four years (from 28% to 62%), and that’s just one of more than a dozen categories relevant for risk and compliance pros today. Beyond GRC platforms, emerging technologies are available to monitor internal and external digital environments for risk and help companies identify and mitigate risks to their brand.
This 2016 Forrester report analyses recent customer and vendor survey data to:
* Outline the key success factors of highly mature programs
* Identify the areas where many organisations fall flat
* Review the emerging technologies that risk and compliance professionals are beginning to leverage to strengthen their capabilities
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