The report evaluates the newest market trends and provides 13 vendor profiles. To get the report for free, follow the link and fill out the form: http://www.bwise.com/request-the-forrester-wave-report. After submitting the form, you have instant access to the PDF.
Follow the link below and fill out the registration form with your data and get the Gartner Magic Quadrant for Enterprise Governance, Risk, and Compliance Platforms for free. Find out in which state the EGRC platform market currently is and what the key trends are.
Link to the registration form for the Gartner Magic Quadrant for Enterprise Governance, Risk, and Compliance Platforms: http://accelus.thomsonreuters.com/content/2011-magic-quadrant-enterprise-governance-risk-and-compliance-platforms
After a short summer break we are back presenting you SAP’s answers to the vendor survey conducted in spring.
The recently published “Forrester Wave: Enterprise Governance, Risk, and Compliance Platforms, Q3 2009” has led to interesting discussions in the GRC community following a severe critique of Forrester’s methodology by Michael Rasmussen. The analyst, who originally developed and wrote the Wave report himself, calls the “wave” a “ripple” and attacks his former employer severely. Build your own opinion by reading the blog comment and the reactions it caused.
Check out Michael Rasmussen’s new blog entry on the largest GRC software vendor. He is giving away some interesting facts on GRC market size and definition and comes up with an answer that might surprise you.
Due to my long absence this post comes a bit late, however I did not want to hide from the readers that MetricStream offers a free download of the Gartner Magic Quadrant for GRC Platforms (Q2/2008). OpenPages, Paisley, Oracle and MetricStream were placed in the leaders quadrant. For further information please refer to the report. [Download from MetricStream.com]
As promised I had a look around the web to find articles about the implications of the financial crisis on GRC. I hardly found anything worth mentioning, apart from the ubiquitous vague and emotional articles recommending new regulations for banks. Software vendors have hardly commented on the situation, being more concerned to deal with the expected decline in sales. SAP announced the strongest cost-saving measures since the break-down of the new economy. Each board member renounces to 10 days of holiday, all management consulting is stopped, projects with third-party involvement are postponed to next year where possible, all meetings have to be held in SAP facilities, orders for company cars and office equipment will be scrutinised, and so on and so forth, and of course all this is topped by a headcount freeze and the cancellation of all existing vacancies. Hard to swallow for the employees, but an unavoidable move to protect the company’s performance.
CFO Research published a report revealing that senior finance executives increasingly focus on risk management as a result of the financial crisis. 55% of respondents expect changes in their company’s risk management practices. Governance topics dominate these changes: altering cash management practices, investments strategies and customer and supplier relationships. With new regulations expected to be introduced, more and more companies should realise that they need a comprehensive and effective approach to their GRC topics. The search for better risk management solutions will automatically lead the attention to GRC.
If the demands for increased transparency of financial portfolios are answered, inter-company risk management is also going to gain importance. Where possible, risks should be tracked down to the first member of the chain. Banks should not rely on buying tranches with AAA ratings, not knowing who are the debtors included in the product. It is a bit strange that banks, who of all companies have the most advanced risk management in place, seem to be lacking it most. Over the last decade non-financial companies have been increasingly active in the financial market. Porsche, for instance, made 4 billion euros of benefits out of a 7.4 billion revenue in 2006/07 due to hedges for Volkswagen shares. If these trigger-happy companies are affected by the crisis as well (allegedly not to be expected in Porsche’s case), they will either cut down their investments on the financial market and refocus on their traditional core competencies, or they will have to increase spend on risk management. Balance sheets at the end of this year are going to deliver a first impression of how strong the impact of the financial crisis is on non-financial companies.
I knew the stock markets were going to react to the decrease in global productivity due to my first long holiday in years. However I did not expect the reaction to be this harsh! All jokes aside: the end of American investment banks as we know them, losses of hundreds of billion dollars, bankruptcies and nationalisations seem to herald a severe recession. You can find news on the happenings on basically every website reporting about economy or politics. GRC Resource will try to provide resources on the effect of these events on GRC soon. Stay tuned.
As SearchDataManagement.com reports, AMR Research published a new market analysis identifying risk management as the top driver of GRC initiatives, surpassing compliance.
“GRC really sprang up from people’s approach to managing some of the concerns around Sarbanes-Oxley,” [report author] Hagerty said. “Organizations that didn’t have to deal with that, which was any private firm in the United States as well as any firm that didn’t trade on U.S. exchanges — the rest of the world, pretty much — didn’t care about it.” But times have changed, he said.”
Moreover the report provides a GRC market size forecast:
“Worldwide, GRC-related technology and services spending is expected to increase by 7.4% in 2008 to $32 billion, according to the report, which surveyed 420 companies in the U.S., Germany and Japan. Demand for GRC services and consultants will rise nearly 22% as companies look for outside help in crafting their risk management strategies.”
[Source: Kelly, J. (2008): Risk management surpasses compliance as top GRC priority.]