Business Report: GRC Market Structure

GRC stands for Governance, Risk Management, Compliance. It is used to describe Information Tech-nology which supports these specific business requirements. This report provides a segmentation of the overall GRC market with its different elements, from the C-level dashboards down to technical elements which are required to provide information for automated controls and the automated re-mediation in case that defined thresholds of controls aren’t met. The core elements are

• Business GRC
• Operational GRC
• Generic IT GRC and CCM (Continuous Controls Monitoring)
• Specialized IT GRC tools
• Technical “support” tools

We recommend drawing a big picture as target for an integrated GRC view, like the Enterprise GRC architecture shown in this report. This can act as the guideline for GRC initiatives across the entire organization – and it addresses some specific project risks, especially because it mandates interoperability between different elements within this picture and thus avoids investments in point solutions which aren’t able to integrate.

In parallel, the GRC organization has to be built which focuses on the definition and enforcement of policies and the implementation and execution of controls across all layers. That takes some time. Anyhow, organizations can start today with their GRC investment by putting tactical investments at different levels into a strategic frame – the one we’ve discussed in this report.