What’s so cool about risk management? Well, this past week Gartner honored three solution providers as “Cool Vendors in Risk Management.” The dawn of a new era in risk management technologies is emerging that undoubtedly will disrupt the current governance, risk and compliance (GRC) software marketplace. Risk management professionals are now demanding risk technology to support a wide range of digital business transformation initiatives.
Gartner refers to this new technology as digital risk management (DRM). DRM technology facilitates the risk awareness, understanding and decision making associated with the convergence of the digital and physical worlds through cloud, mobile, social, big data and the Internet of Things (IoT). Data from Gartner’s 2016 CIO Agenda Survey shows that we are now deep into the era of digitalization, and getting ever deeper, with the average CIO expecting digital revenue to grow from 16% to 37% in the next five years. Similarly, public-sector CIOs are predicting a rise from 42% to 77% in digital processes. At the same time, 77% of CEOs surveyed say that digital business is bringing new types and higher levels of risk.
Gartner’s definition of a Cool Vendor is a small company offering a technology or service that is:
- Innovative — enables users to do things they couldn’t do before.
- Impactful — has or will have a business impact, not just technology for its own sake.
- Intriguing — has caught Gartner’s interest during the past six months.
We are very pleased to announce the following three solution providers have been selected as Cool Vendors in Risk Management, 2016 for their innovative solutions in DRM.
Melbourne, Victoria, Australia ( www.alexsolutions.com.au )
London, England, U.K. ( www.polecat.com )
Ann Arbor, Michigan, U.S. ( www.quadmetrics.com )
You can read more about why we find their solution offerings so cool at Cool Vendors in Risk Management, 2016 on Gartner.com (subscription required). Also, check out my blog on risk management and security topics at the Gartner Blog Network.
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