Galvanize, SaaS governance, risk, and compliance (GRC) software provider, announced new findings from a national survey of GRC professionals that position the 2020s as the decade when the GRC industry embraces advanced technology. The data uncovered a strong post-pandemic push toward the adoption of cloud-based technology and revealed the critical value GRC professionals bring to the C-suite, as well as the top concerns from, and the evolving role of, GRC professionals.
The newly released report, which assessed the views of GRC professionals and non-GRC professionals in related fields, found:
- that nearly half of GRC professionals (45%) are still using Microsoft Office tools to manage critical programs and documents. However, there’s a light at the end of the tunnel: although only 30% of GRC professionals currently use cloud-based technology, 41% of survey respondents say they are planning to adopt it.
- 53% of GRC professionals say that, while their organizations now perceive them as being more valuable, the volume and scope of their workload has drastically increased, and resources continue to shrink
- GRC software protects against increased workloads—only 39% of users reported an increased workload, which is far less than those who rely on Microsoft (61%) or on multiple point solutions (89%)
- 63% of GRC professionals who use integrated technology have complete visibility into the risks faced by their organizations and how those risks tie back to their work; that’s twice as many as those who use Microsoft Office
“Much like we saw in the Roaring ‘20s of 100 years ago, the biggest post-pandemic concern is a return to the new normal,” said Dan Zitting, CEO of Galvanize. “The fastest route is through technology—especially for the GRC industry. The data shows indisputable benefits: more visibility into risk, decreased workload, and more efficiencies. It’s promising to see the strides GRC practitioners are taking to implement cloud-based technology so they can maintain their position as strategic advisors to their organizations.”
To read the full report, go to: http://wegalvanize.com/grc/the-technology-turning-point-for-grc-professionals