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In the wake of epochal economic convulsions, many corporations face the challenge of crawling out of a financial rut while shouldering an increasing regulatory load and heightened risk. Typically, corporations respond to new regulation and risk by adding more compliance and business process assessment tools onto an already complex network of governance, risk management and compliance technology. This edition of The Monitor features two articles that illustrate that organizations are coming to terms with the fact that the usual response to regulation is overly complicated, expensive and unsustainable, and that GRC convergence and holistic GRC technology provide a cost-effective, transparent, and efficient solution to address this worsening problem.
As evidenced in a survey titled “The Convergence Challenge,” conducted on behalf of KPMG International, businesses are looking to GRC convergence - the merging of their numerous vertical GRC applications - as a remedy to the convoluted and costly GRC corporate headache that intensifies with every new piece of regulation. The first article outlines the results of this survey showing, for example, that 64% of corporations regard GRC convergence as an invaluable tool to manage increased regulation and risk exposure. Implementing GRC convergence proves a difficult task, to say the least, but a study published by the Aberdeen Group demonstrates that the payoff is worth the investment of time and money. This study on the balance of enterprise risk and reward confirms that the top performers in Enterprise Risk Management and information technology GRC have achieved this status while reducing their operating costs by converging stove-piped risk management processes and enabling an enterprise-wide, holistic risk management platform. The second article summarizes the results of this study, and concludes that GRC convergence and human judgment are a highly effective combination for successful business management. Businesses admit time has come for convergence of GRC activities
Businesses around the world are expressing a growing appetite to bring together the many and disparate Governance, Risk and Compliance (GRC) bodies which exist within today's typical corporate, claims a survey out today. According to "The Convergence Challenge", a survey undertaken by the Economist Intelligence Unit on behalf of KPMG International, 64 percent of businesses surveyed now see GRC convergence as a key priority for their business. Read the press release at http://cataphora.com/out.php?go=i1lj7 Balancing Enterprise Risk and Reward
Top Performers Converge Stove-Piped Risk Management Processes, Increasing Productivity by 10% and Liberating 6% of IT Budgets for Strategic, "Rewarded" RisksThe companies achieving top performance in Enterprise Risk Management (ERM) and information technology Governance, Risk Management and Compliance (IT GRC) have converged their previously stove-piped risk management practices and reduced associated operating costs by 6.4%, based on a new study on balancing enterprise risk and reward published by Aberdeen Group, a Harte-Hanks Company (NYSE: HHS). The top performers eliminated 10% of redundant risk management processes and activities -- the equivalent of a half-day of additional productivity per week for every associated full-time equivalent resource -- and increased by that amount the resources available to work on the organization's strategic, "rewarded risk" initiatives. Read more at CNNMoney.com http://money.cnn.com/news/newsfeeds/articles/marketwire/0585387.htm |
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February 25th, 2010
Cataphora In The News
Full Article Wie hat das Internet Ihr Denken verändert? (How has the Internet changed your thinking?) 
Full Article Context-Aware Technology Goes to Court 
Full Article Electronic ties that bind - Technology can help uncover dangerous cliques in companies What's New
Cataphora in London for filming of BBC documentary.
Elizabeth Charnock appears on plenary session panel at Monaco Media Forum. Latest Releases
Independent Study Shows Cataphora's Automated Review is Reliable, Defensible Alternative to Manual Document Review .
Cataphora Announces More Efficient and Cost-Effect Data Collection . 
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We hope you find The Monitor useful and interesting - please feel free to contact us and let us know at emailnewsletter@cataphora.com.
This newsletter is also available online at http://www.cataphora.com/newsletter/tm/20100225/index.html |
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