Sword Achiever 2012 GRC Predictions
As we move into a New Year, Sword Achiever, GRC software solution providers, take a look at the lie of the land in the GRC sector in 2012.
Sword Achiever GRC Predictions
With a tough 2011 behind us, initial indications from the IMF seem to point towards 2012 being no easier. Having recently slashed their growth projections to 3.3%, with activity in the advanced economies now just at 1.2%, it would be easy to see only doom and gloom on the horizon. However there are things that businesses can do to gain competitive advantages and grow even in these difficult economic times.
Throughout 2012 we foresee GRC coming to the fore, speaking directly to business’ needs to protect their interests, increase consistencies, improve efficiencies and ensure sustainable growth.
1) Business Pump Iron To Get Leaner Than Ever
During difficult times business will look to streamline their business processes and become leaner and fitter.
With ever greater strains to do more with less businesses will look to streamline their processes to deliver improved growth through lean techniques. To achieve this businesses need visibility of their entire value chain and tools to able to continuously monitor processes for improvements. Benefits include improved customer satisfaction, quality, productivity, lead times and reduced waste, all of which contribute to increased competitive advantages and the ability to deliver sustainable growth.
2) Learning To Invest With Squeezed CapEx
With business and IT departments facing a squeeze on their CapEx and OpEx, businesses will look for alternative models to gain business value from solutions.
As businesses look to cut costs many departments Capital Expenditure is being squeezed more than ever before. While 10 years ago it was easy to get budget sign off for systems that would improve operations, now even minimal expenditure often needs head office sign off. We see this resulting in two main outcomes. Firstly, business are looking for systems that can integrate with existing solutions and don’t need a complete remodelling of their IT infrastructure and secondly, business are looking more and more at SaaS or subscription pricing models that spread their investment costs while still delivering business value.
3) The Tale Of The Tortoise And The Hare
Businesses will look for long term sustainable growth, moving away from high risk quick wins.
The further into the 21st Century we go, the more businesses are realising the importance of being able to offer sustainable growth to their shareholders. Various bursting of bubbles have highlighted the dangers of growing businesses too quickly without putting in place process and management controls. With the hares having fallen by the wayside the success stories are of the tortoises who are delivering competitive advantages through an increased understanding of their risk environment and how these impact on business objectives.
4) No Company Is An Island
The compliance landscape will expand throughout the supply chain.
Over the last 10 years, the majority of risk and compliance attention has been internally on specific risk and compliance standards and frameworks. However, recent high profile incidents, such as the BP Deepwater Horizon oil spill, have had repercussions throughout the supply chain across many industries. With a greater expectancy for suppliers to meet legal requirements and operational standards through binding contracts, the standardisation of core applications to increase visibility, accountability and control over QHSE, risk and compliance processes has become paramount.
5) The R Of GRC Will Continue To Lead
The view of risk within enterprises will become more entrenched through 2012.
With businesses keeping an ever closer eye on both bottom and top lines, the ability to plan and predict unexpected incidents that could impact on these will become more and more important. Business leaders are increasingly recognising the dangers of poor business visibility and incomplete data can have. Continued high profile incidents hitting brands and bottoms lines have increased boardroom understanding of the importance of a single holistic view of their risk environment. GRC solutions will increasingly be adopted for the primary purpose of creating a consistent, integrated and complete view of risk, not a single functional solution.
Established in 1993, Sword Achiever is part of The Sword Group (www.sword-group.com), and is the European leader in Governance, Risk and Compliance management software, deployed in more than 600 businesses across the globe.