Enterprise GRC Solutions 2015

<p>This report is an update to Chartis’s 2014 report on enterprise governance, risk, and compliance&nbsp;(GRC). Much of the core content remains the same. As the twelve-month update describes, most of&nbsp;Chartis’s predictions in 2014 have proved to be accurate:</p>

<li>Across all industries, corporations are looking to link risk and compliance to performance.This is leading to a convergence of GRC with Finance – GFRC.</li>
<li>Human behavior-based GRC solutions have been deficient. In the financial services sector&nbsp;alone the aggregate impact of the top 50 operational loss events is estimated to be $60bn&nbsp;over a 12 month period.1 98% of these losses (by value) and 82% (by frequency) were due&nbsp;to misconduct and inappropriate human behavior.</li>
<li>&nbsp;“Big data” and “big analytics” are rapidly being applied to enterprise GRC across all&nbsp;industry sectors. In the last 12 months Chartis has seen a top 10 financial institution&nbsp;using natural language processing and artificial intelligence tools for internal audit, a&nbsp;European energy company using continuous real-time technologies for health, safety and&nbsp;environment control monitoring, a global pharmaceutical company using high-performance&nbsp;supercomputers for risk identification in a “data lake” using graph analytics, and a&nbsp;manufacturing company using complex event processing (CEP) technology and in-memory&nbsp;analytics for supply chain risk management.</li>

<p>However, the most important trend continues to be that of integrated GRC. “Enterprise” GRC requires&nbsp;integration, alignment and linkage. The concept of “connected GRC” is more important now than ever&nbsp;before and it can only be achieved through next generation data management, business intelligence&nbsp;and analytics technologies. Interestingly enough, other industry analysts seem to be missing these&nbsp;important trends. Some sections of the marketplace have been intimidated by the proliferating&nbsp;possibilities of connected GRC, and have retreated to the comfort of silo-based approaches, while&nbsp;others are completely underestimating the impact of the waves of technology innovation in the&nbsp;new digital age. This view looks at the world from the perspective of traditional GRC vendors&nbsp;(supply side) and is out of touch with the leading practices and innovations happening in end-user&nbsp;organizations (demand-side). This is not a forward-looking view of the market.</p>

<p>At Chartis, we consider our primary audience to be end-user organizations and the risk, compliance&nbsp;and technology professionals looking to improve and enhance their GRC processes and systems. This&nbsp;report covers these trends in depth and provides an updated competitive landscape for enterprise GRC&nbsp;solutions. This report uses Chartis’s RiskTech Quadrant<sup>®</sup> to explain the structure of the market. The&nbsp;RiskTech Quadrant<sup>®</sup> uses a comprehensive methodology of in-depth independent research and a clear&nbsp;scoring system to explain which technology solutions meet an organization’s needs.</p>

<p>This report covers the leading vendors offering enterprise GRC solutions, including Chase Cooper,&nbsp;ClusterSeven, eFront, Empowered Systems, Enablon, FICO, IBM, MEGA, MetricStream, NASDAQBWise,&nbsp;Oracle, Oxial, RSA, SAI Global, SAP, SAS, Thomson Reuters, Wolters Kluwer FS, and&nbsp;Wynyard.</p>

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