The state for GRC 2.0

Jim Kim — Thu, 10 Jul 2008 14:44:00 -0400

What to make of the governance, risk and compliance software market? Well, it has attracted a host of big players, notably SAP and Oracle, as well as a host of increasingly well-known smaller companies. And most companies at least have an understanding of what GRC is all about. But the functionality needs to evolve. OpRisk & Compliance notes: "If the first generation (GRC 1.0) was heavily oriented toward compliance, then certainly one strategic imperative is that the next-generation GRC 2.0 solutions place increased emphasis on value (which, in essence, means there must be a more business-oriented focus on proactive risk identification, assessment and mitigation)." Many have noted that compliance-oriented software is only as good as the strategic benefits it yields. That seems to be the focus of GRC 2.0. We're still chasing the "holistic" and truly "integrated" solution. But we are seeing a lot 2.0-like products coming out. More soon.

For more:
- here's the OpRisk & Compliance article

Compliance Software

The state for GRC 2.0