Market Overview: GRC Platforms

Failure of corporations to comply with regulations and to manage risks puts customers, employees, communities, and shareholders at risk on a daily basis. Global backlash pressures risk and compliance professionals to improve the way their companies operate, and many turn to GRC technologies for support. The GRC platform vendor market, which stalled as SOX management deals diminished, is seeing dramatic growth once again, from a $635 million global market in 2009 to a nearly $749 million market in 2010. To sustain growth and see longer-term success, GRC technology vendors must give executives more value with risk and compliance content and analytics while integrating more closely with IT infrastructure to take advantage of existing data and applications. Ultimately, GRC efforts must focus on process improvement, loss mitigation, and strategic decision-support rather than reacting to short-term regulatory pressures and risk concerns.