Journey to the beginnings of GRC and then traverse across time, noting how GRC has evolved from a tool for compliance into a platform for integrated risk management.
Evolution of GRC BG1

Sarbanes-Oxley Act of 2002

Companies since the beginning of commerce have managed risk to make better business decisions. A watershed moment was the enactment of Sarbanes-Oxley in 2002, a regulation meant to address corporate malfeasance and help protect investors and the general public.

Evolution of GRC SOX
Evolution of GRC SOX

Sarbanes-Oxley Act of 2002

Companies since the beginning of commerce have managed risk to make better business decisions. A watershed moment was the enactment of Sarbanes-Oxley in 2002, a regulation meant to address corporate malfeasance and help protect investors and the general public.

Evolution of GRC BG1
Evolution of GRC Officer

Compliance Conundrum

Sarbanes-Oxley, better known as SOX, was just the beginning. Other regulations followed – HIPAA, Dodd-Frank, and FINRA to name a few. With each passing year, regulations came with revisions and additions. The increased regulatory environment left business with a confusing, difficult problem.

Evolution of GRC Officer

Compliance Conundrum

Sarbanes-Oxley, better known as SOX, was just the beginning. Other regulations followed – HIPAA, Dodd-Frank, and FINRA to name a few. With each passing year, regulations came with revisions and additions. The increased regulatory environment left business with a confusing, difficult problem.

Evolution of GRC BG3

Spreadsheets Fall Short

Business turned to spreadsheets to solve the compliance conundrum. The trouble is, compliance involves multiple people and departments inside and outside the organization. Compliance required a better plan of attack.

Evolution of GRC Defend
Evolution of GRC Defend

Spreadsheets Fall Short

Business turned to spreadsheets to solve the compliance conundrum. The trouble is, compliance involves multiple people and departments inside and outside the organization. Compliance required a better plan of attack.

Evolution of GRC BG4
Evolution of GRC Officer

GRC Defined

GRC, which stands for governance, risk management, and compliance, describes the encompassing nature of complying with SOX and other regulations. OCEG, an industry trade group, defines GRC as “the integrated collection of capabilities that enable an organization to reliably achieve objectives while addressing uncertainty and acting with integrity.”

Evolution of GRC Officer

GRC Defined

GRC, which stands for governance, risk management, and compliance, describes the encompassing nature of complying with SOX and other regulations. OCEG, an industry trade group, defines GRC as “the integrated collection of capabilities that enable an organization to reliably achieve objectives while addressing uncertainty and acting with integrity.”

Evolution of GRC BG5

First-generation GRC Platforms

GRC platforms supplanted spreadsheets for compliance and evolved to meet broader business needs. These first-generation platforms provided management with a better tool for compliance but were difficult to implement and cumbersome to use.

Evolution of GRC Spreadsheet
Evolution of GRC Spreadsheet

First-generation GRC Platforms

GRC platforms supplanted spreadsheets for compliance and evolved to meet broader business needs. These first-generation platforms provided management with a better tool for compliance but were difficult to implement and cumbersome to use.

Evolution of GRC BG6
Evolution of GRC Baron

Risky Business

Business is always evolving, which creates new risks. Suppliers and vendors dot the world and networks connect everyone. Both have given rise to third-party risks, information security risks, and other risks. It defines a bigger and more rapidly changing world. You have to be ready to adapt and evolve your program.

Evolution of GRC Baron

Risky Business

Business is always evolving, which creates new risks. Suppliers and vendors dot the world and networks connect everyone. Both have given rise to third-party risks, information security risks, and other risks. It defines a bigger and more rapidly changing world. You have to be ready to adapt and evolve your program.

Evolution of GRC BG7

Present Day

Fines for non-compliance and fallout from incidents reverberate in corner offices and boardrooms. Today’s leading GRC platforms are flexible, scalable and cloud-based, empowering companies to not only manage compliance, but also integrate risk management programs in the Digital Age. These advanced GRC platforms are also used to promote best practices, address ethics, and protect a company’s brand reputation.

Evolution of GRC Present
Evolution of GRC Present

Present Day

Fines for non-compliance and fallout from incidents reverberate in corner offices and boardrooms. Today’s leading GRC platforms are flexible, scalable and cloud-based, empowering companies to not only manage compliance, but also integrate risk management programs in the Digital Age. These advanced GRC platforms are also used to promote best practices, address ethics, and protect a company’s brand reputation.

Evolution of GRC BG8
Evolution of GRC Future

The Future of GRC

To embrace the future, adopt an advanced GRC platform that can meet today and tomorrow’s risk management and compliance challenges. Start now with the GRC Buyer’s Guide.

Evolution of GRC Future

The Future of GRC

To embrace the future, adopt an advanced GRC platform that can meet today and tomorrow’s risk management and compliance challenges. Start now with the GRC Buyer’s Guide.