First SaaS, then Cloud, enter Big Data to automate your GRC processes
Business, Corporate and organizations must get better and improved data management approaches that allow them to effectively round up and optimize their data procedures and typically IT Security.
The novel IT trend that has surrounded the IT industry even though organizations are struggling to cope with data integrity and quality is Big Data. The size of any digital tool is now so large that data sizes have increased tenfold compared to what it was just a few years earlier.
Complying with applicable laws and regulations is getting more complex. Therefore combining Big data to the individual GRC components of management can however allow you to effectively identify and optimize the data to the processes and ensure both integrity and excellence in Big Data.
Governance, risk management, compliance and IT security (GRC) processes are complicated. If correctly used, embedded and uintegrated they often determine how an organization is directed, managed and monitored to achieve the strategic and operating goals.
Another complicating factor are the issues around information management that has become central to organizational strategies related to financial consolidation and reporting. The possible errors as a result of non compliance e.g. in accountability issues or in audit trails that require validation, regardless of the data size. However the bigger the data the larger is the validation process to ensure accountability, data trails in consolidation and reporting processes.
Enterprise GRC domain.
Therefore, GRC software that can consolidate and automate is a must in organizations. Investment in these areas are now also increasing, at an annual growth rate of 20+ percent throughout 2012.
However with the more than several hundred GRC software providers that span to several dozen primary and sub GRC categories, this can be a daunting task to choose an enterprise GRC domain.
The groundwork and documentation can also be a lengthy and costly exercise if done manually. Developing and working with a GRC framework that best fits the business provides a clear understanding of the functionality requirements and thereby narrow the selection process. However the earlier the organization implements an enterprise GRC IT tool the better it is to create value in your GRC processes.
