Global research firm Forrester has analysed and scored a number of Governance, Risk, And Compliance (“GRC”) Platforms and selected 14 significant providers – a few more than a handful. For the assessment of the final provider list, Forrester used a set of 23 criteria points. The resulting report shows how each provider measures up and will help Risk Management and Compliance professionals make the right choice – check the direct link or the full report further down in this article.
About Forrester
Listed company Forrester (Nasdaq: FORR) is a worldwide top influential research and advisory firm. Forrester partners with global businesses and technology leaders and produces unique Research based on relevant annual surveys, covering more than 675,000 consumers and business leaders worldwide, using proprietary methodologies.
Selected Significant Providers
The 17 selected providers of GRC platforms are:
- ACL
- Enablon
- IBM
- LogicManager
- MetricStream
- Nasdaq
- NAVEX Global
- Riskonnect
- RSA
- Rsam
- SAI Global
- SAP
- ServiceNow
- Thomson Reuters
Key Takeaways
According to the Forrester report, the main conclusions are:
SAI Global, MetricStream, And LogicManager Lead The Pack
Forrester’s research uncovered a market in which SAI Global, MetricStream, LogicManager, Nasdaq, Riskonnect, Rsam, and SAP lead the pack. Enablon, ACL, RSA, IBM, and NAVEX Global offer competitive options. ServiceNow and Thomson Reuters lag behind.
Risk Pros Are Looking For SaaS Providers, Automation, And Dedicated Customer Support
The GRC market is growing because more risk professionals see risk management as a way to address their top challenges. This market growth is in large part due to risk pros increasingly trusting GRC providers to act as strategic partners, advising them on top risk decisions.
Cloud, Analytics, And Customer Support Are Key Differentiators
As on-premises technology becomes outdated and less effective, improved SaaS implementations will dictate which providers will lead the pack. Vendors that can provide cloud, analytics, and customer support position themselves to deliver successful risk management programs to their customers.
Other relevant and important aspects referred in the Forrester report show that nowadays the Risk Management and Compliance disciplines are at an importance all-time high.
Forrester refers that “Unprecedented changes in business and technology will demand much more sophisticated, strategic, and proactive GRC capabilities“. These very actual aspects are taking GRC arrangements to a whole new level. Yet, firms still must improve their formal assessment processes and frameworks, introduce better and more formal Risk and Compliance training and improve and tighten their systems and controls, among other initiatives. Forrester also refers that industries and firms must make “better use of risk data at strategic levels of the organization as the increasing cost of mistakes is clear“.
The table below shows the list of evaluated vendors, their respective products and the used vendor criteria.
Full Report
Click on the image below to access the full report, including vendor profiles, strategic matrix for each provider, full and detailed scorecard, as well as which are the relevant aspects that make the “Leaders” stand out, what are the main aspects that make the “Strong Performers” and, the main arguments for the selected contenders.
Featured image source: Image created by Onlyyouqj – Freepik.com
