Supported by many of my research colleagues at Gartner, I recently completed our 2014 Hype Cycle Report on Governance, Risk and Compliance (GRC) Technologies. This year’s Hype Cycle demonstrates the greater sophistication of risk management approaches and their related GRC technologies. Areas such as social media compliance, operational intelligence platforms and information stewardship are critical components of the evolving digital business landscape. Technologies found on this Hype Cycle provide the risk insights that are needed to create strategies to build successful digital business processes.
GRC remains a top business priority for senior executives, according to Gartner’s 2104 CEO and Senior Executive Survey. In fact, it is on par with other critical business priorities, such as R&D and innovation, as well as efficiency and productivity. Given that GRC is viewed as a core priority of this sort, it is understandable that the market for GRC technologies has now matured beyond foundational solutions, such as enterprise and IT GRC platforms, to focus more on purpose-built applications that can easily integrate with the GRC systems of record.
As a result, Gartner is shifting its primary research focus on GRC technologies such as IT risk management, operational risk management, IT vendor risk management and business continuity management. In addition, increasing focus on strategies to build a cohesive and comprehensive GRC application portfolio is reflected in our evolving research of GRC pace-layering methodologies (see “How to Use Pace Layering to Build a GRC Application Strategy” and “Predicts 2014: Advances in Risk Management Technology Will Improve Corporate Performance and Public Policy”).
Details on all of the GRC technologies represented in this year’s Hype Cycle can be found in our latest report, “Hype Cycle for Governance, Risk and Compliance Technologies, 2014“.
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