Published: 22 April 2024
Despite the benefits assurance leaders receive from digitalizing risk management, the implementation of governance, risk and compliance tools can present costly challenges. This research provides assurance leaders with methods to avoid common implementation pitfalls of GRC technologies.
A majority of assurance leaders have stated that their organization has more than one governance, risk and compliance (GRC) tool, according to the Gartner ERM Budget and Efficiency Benchmark. This is the result of a fragmented market where multiple tools are often required to serve many needs.
During the planning phase, risk management, compliance and other assurance teams struggle to build stakeholder consensus, clearly map workflows and identify a single source of truth for data to be ingested into the GRC, define the GRC implementation scope and determine the right level of tool customizations.
At deployment, assurance teams often
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