SAP Survey Finds Need for Greater Investment in GRC Initiatives

Many enterprises are vulnerable to losing business or revenue despite an investment in governance, risk and compliance (GRC) and companies are not satisfied with their solutions to meet regulations, according to a new study commissioned by SAP.

The survey interviewed more than 1,000 employees responsible for GRC in large organizations in the United States, the United Kingdom, Germany, the Netherlands, Brazil, Japan, France, South Africa, and the Nordics.

While the majority of respondents’ organizations understood the importance in investing in GDC initiatives, nine in 10 are not satisfied that they have adequate GRC technologies and processes in place.

“Companies need to act fast to limit exposure to further risk,” said Thack Brown, general manager and global head of Line-of-Business Finance at SAP. Based on the feedback from this survey, SAP has made several recommendations to organizations, including that they mak  a case for the strategic value of GRC, make a decision about who’s responsible for implementing these initiatives, seek a holistic, future-proof solution, drive cultural change, and take action soon.

To read the full report and more about SAP’s recommendations, click here.