GRC Comes of Age | Business Finance - 0 views
-
Karl Wabst on 19 Aug 09The discipline known as governance, risk, and compliance (GRC) management has come a long way in a short time. Results from Business Finance's 2009 GRC Maturity Study suggest that the majority of companies with formal GRC programs are beginning to derive strategic benefits from their efforts: Two-thirds of survey respondents say that the primary benefit of the GRC programs extends beyond mere compliance to "strategic risk management and decision-making insights" (55 percent) and "superior resilience and long-term shareholder value" (11 percent). Additionally, 81 percent of survey respondents describe their company's GRC capabilities as "strong" (15 percent) or "acceptable" (66 percent); only 18 percent of respondents say that their programs are "in need of improvement." What's more, a remarkable 83 percent of survey respondents (see the "Methodology" side bar) say that their corporate GRC programs were somewhat to very helpful in enabling their organizations to anticipate and respond to the current economic downturn. At many companies, GRC is about much more than compliance these days.