The frequency of risk occurrences continues to accelerate as the negative impacts of failure increase in severity. The old methods and practices of performing governance, risk and compliance (GRC), which revolve around manual processes, endless spreadsheets and retroactive identification, are too outdated to keep pace with the rapid evolution of technology. As a result, businesses have taken risk management into the digital age, morphing GRC into digital risk management (DRM). Those leveraging DRM make better security decisions, safeguard customer data and ensure stakeholder satisfaction. The implementation of DRM also leads to greater efficiency via automation.