We all know that processes and technologies for governance, risk management, and compliance (GRC) have been evolving rapidly but, as the song goes, I think it’s safe to say we “ain’t seen nothin’ yet.”
The velocity and scope of change in global regulation,geo-political shifts, and technology developments is almost immeasurable. The amount of data that is relevant to risk management and strategic decision making is overwhelming and growing exponentially. The very nature of information today is vastly different than even five years ago. Who knows how different it will be by this time next year.
The Post-Modern Business
At the same time, despite–and in some ways because of –the pace and impact of change, we are moving toward a post-modern business model that presents previously unseen opportunities. We must have the right capabilities in place to grasp them without taking on unwarranted risk or sacrificing integrity. We must be able to move faster from data to decisions. This demands that our GRC capabilities evolve at a faster pace with greater impact as well.