Report: 41% of GRC pros adopting cloud-based technology in post-pandemic recovery

3 years ago 462

A study by Galvanize revealed insights into the workloads and technological outlook for governance, hazard and compliance professionals. Find retired what you request to cognize astir this field.

A caller report from bundle and information subject grooming enactment Galvanize uncovered a beardown propulsion successful the post-pandemic epoch toward the adoption of cloud-based technology. It besides demonstrated the captious worth that governance, hazard and compliance professionals bring to the C-suite, arsenic good arsenic the apical concerns from and the evolving relation of GRC professionals: IT compliance, information and privateness (47%), cybersecurity (43%) and fraud and corruption (29%).

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Key findings

79% of survey respondents recovered it challenging to get the information they needed to bash their jobs.
68% of survey respondents rated integrated GRC bundle arsenic wholly oregon mostly efficient, compared with lone 49% of those utilizing Microsoft 365 for GRC purposes.
63% of GRC professionals who usage integrated exertion person implicit visibility into the risks faced by their organizations and however those risks necktie backmost to their work; doubly arsenic galore arsenic those who usage Microsoft 365.
62% person seen maturation successful the scope of their roles.
62% find that gaps successful time, exertion oregon quality resources forestall their organizations from executing their plans.
58% person seen their workloads increase.
54% said they person implicit visibility into the risks faced by their organization.
53% of respondents said their organizations present comprehend them arsenic being much valuable.
45% are inactive utilizing Microsoft 365 tools to negociate captious programs and documents.
38% said their roles person go much risk-focused since the pandemic.
32% of GRC professionals person less resources than they did earlier the pandemic.

This ties into an upcoming displacement successful GRC operations; portion lone 30% of GRC professionals usage cloud-based technology, 41% of survey respondents accidental they are readying to follow it. Organizations that had already opted for cloud-based solutions had a amended clip shifting to afloat distant work, demonstrating the existent workplace reality.

As Galvanize pointed out, "status quo tactics and tools tin effect successful mislaid data, accrued errors and trouble keeping way of processes and progress."

Therefore, GRC professionals request to absorption connected cloud-based exertion options to enactment abreast of the upcoming changes; options which tin code the supra concerns and needs. A unified presumption to consolidate information and absorption connected the accusation needed to marque informed decisions is crucial.

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In addition, GRC unit should absorption connected machine learning, artificial intelligence and robotic process automation to show risks and urge caller controls successful near-real time, successful summation to exploring products and solutions with built-in cognitive capabilities and predefined configuration flexibility. Automated workflows are a cardinal constituent to helping GRC professionals bash their jobs by streamlining operations and eliminating manual tasks.

The extremity present is to execute greater visibility from cloud-based products successful bid to enactment concern continuity.

Additionally, information needs to beryllium inextricably linked to cloud-based GRC operations, successful themselves and successful determining information conditions for the organization. Compliance and menace mitigation are apical priorities, and amended visibility and power mechanisms with real-time hazard monitoring tin assistance bring these to success. Galvanize suggests: "When evaluating options, look for vendors who person domain experience, who recognize your industry's information and compliance requirements and concerns, and who person precocious levels of information certifications specified arsenic Impact Level 5."

"Much similar we saw successful the Roaring '20s of 100 years ago, the biggest post-pandemic interest is simply a instrumentality to the caller normal," said Dan Zitting, CEO of Galvanize. "The fastest way is done technology—especially for the GRC industry. The information shows indisputable benefits: much visibility into risk, decreased workload, and much efficiencies. It's promising to spot the strides GRC practitioners are taking to instrumentality cloud-based exertion truthful they tin support their presumption arsenic strategical advisors to their organizations."

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