GRC is a strategic approach that organizations use to ensure effective governance, risk management, and compliance maintenance with applicable laws, regulations, and industry standards. The growing number of legal, operational, financial, and compliance risks necessitates organizations to establish a robust GRC framework to achieve long-term success and sustainability. GRC framework helps organizations achieve greater transparency, accountability, and resilience in business operations and reduces internal and external risks. The GRC helps identify cybersecurity threats, protect the investors’ sensitive data, secure financial transactions, ensure banks & financial institutions comply with industry regulations, and implement governance at all levels. An integrated GRC plays a critical role in managing day-to-day organizational tasks, keeping the organizational risks at bay, and helping in meeting all the compliance standards required for the smooth functioning of the organization.
Quadrant Knowledge Solutions’ Governance, Risk and Compliance (GRC) Platforms market research includes a detailed global market analysis of major vendors. The research comprises vendors’ product features and functionalities, as well as competitive differentiating factors. The research provides competitive landscape and vendor analysis to enable technology vendors to enhance their understanding of the market and implement a growth-oriented technical roadmap.
The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK MatrixTM analysis. The SPARK MatrixTM includes ranking and positioning of leading GRC vendors with a global impact. The SPARK MatrixTM includes an analysis of vendors, including IBM, ServiceNow, OneTrust, RSA (Archer), Metricstream, Workiva, Diligent, MEGA International, Riskonnect, Mitratech, AuditBoard, NAVEX, LogicGate, CAMMS, Resolver, SAI360, Ideagen, SDG Corporation, LogicManager, Reciprocity, CURA Software, Allgress.
According to Siddharth Kumar, Analyst at Quadrant Knowledge Solutions, “The GRC (Governance, Risk, and Compliance) software market is constantly evolving as new regulations are introduced, technologies are developed, and organizations face new risks and challenges. The GRC landscape is highly competitive and fragmented, with vendors of varied sizes and market focus. Most of the vendors are solely focused on providing Integrated GRC solutions, which has more focus towards risk and compliance management while few of the larger companies offers comprehensive GRC solution which has focus across governance, risk and compliance. Some of the common features offered by GRC software vendors includes Enterprise Risk Management, Cybersecurity Risk Management, Audit Management, Third-party Risk Management, and Compliance Management.”
2023 Governance, Risk and Compliance SPARK Matrix
Source: Quadrant Knowledge Solutions
Table of Contents
- Key Research Findings
Competition Landscape and Analysis
- Competitive Overview and Analysis
- Key Competitive Factors and Technology Differentiators
SPARK Matrix™: Governance, Risk and Compliance Platforms
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