Why Risk Professionals Need More IT Support

By Dennis McCafferty  |  Posted 08-07-2015 Email

Governance, risk and compliance (GRC) professionals believe their current tech tools aren't capable of enabling them to monitor risk effectively, according to a recent survey from SAP. The report, titled "Managing Risk in an Age of Complexity," indicates that the majority of these employees say they cannot fully quantify or qualify current risk levels. Many say that their organizations’ overall approach to risk and compliance is too fragmented, and that they're not capturing and using nearly as much GRC-related data as they have access to. What would most help, they say, are tech tools to allow for continuous data monitoring. "Companies need to act fast to limit exposure to further risk," said Thack Brown, general manager and global head of line-of-business finance at SAP. "The ability to effectively manage risk can help improve profits. Garnering IT support, investing in skilled resources and opening up funds to achieve and maintain a sturdy GRC system are critically important." More than 1,000 global professionals who oversee GRC took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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