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Why Technology Providers Now “Get IRM”

by John A. Wheeler  |  September 16, 2019  |  Submit a Comment

This past week, I enjoyed meeting with over 1,000 attendees at our annual Gartner Security and Risk Management Conference in London. At the event, the overwhelming feedback received is that integrated risk management (IRM) is needed now more than ever. Included in that feedback is the fact that technology providers see a rapid increase in IRM customer demand. The obvious question is “why?”.

Well, it all stems from an increasing focus on emerging technologies to fuel business growth. In our annual 2019 CEO Survey, 82% say that their companies have a management initiative or program in place to make the business more digital – see graphic below. Digital Risk is urgent for CEOs

As these companies become more digital, the blurring of the risks associated with people, process and technology grows. IRM technology providers are ideally suited to provide CEOs and their team with the visibility and understanding of this myriad of risks across the strategic, operational and technology spectrum. Why are they ideally suited for this challenge? It’s due to the fact that they offer solutions that bring together the needs to stay “in business” and “out of trouble” – see graphic below.

IRM Technology Providers Keep Companies "In Business" and "Out of Trouble"

Legacy GRC technology providers only perform well at keeping the business “out of trouble” due to their compliance-driven focus. However, IRM technology providers provide a wider focus on the emerging technology risks associated with digital business, vendors/third-parties and business continuity. This is why technology providers and their customers are looking to #dumpGRC and #getIRM.  It’s also why I will be leading a new research initiative in 2020 labeled “Gartner Emerging Technology & Integrated Risk Management” or simply “GETIRM”. Stay tuned and look for more updates via Twitter and LinkedIn under #getIRM.

 

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Category: audit-and-risk  audit-management  business-continuity-management  compliance-management  cyber-risk  cyber-security  cyberinsurance  digital-risk  enterprise-risk-management  enterprise-risk-management-program-management  risk-assessment-process-and-methodologies  risk-coverage  risk-response-strategies  

Tags: cybersecurity  digital-risk-2  digital-risk-management  erm  grc  integrated-risk-management  irm  risk-management  

John A. Wheeler
Global Research Leader - Risk Management Technology
8 years at Gartner
30 years IT Industry

John A. Wheeler is global research leader for risk management technology solutions and professional services. His areas of specialty include integrated risk management, executive leadership and corporate governance. Follow him on Twitter @JohnAWheeler Read Full Bio




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