The rise of Governance, Risk and Compliance (GRC) software platforms over the past decade has been remarkable. What were once business disciplines that ticked along independently from the rest of the organisation, are now central to everything and amongst the most important functions in a business.
Staying on top of governance requirements, managing and mitigating risk and ensuring compliance, are all interconnected and taken extremely seriously by the smartest organisations. They all have the foresight to understand the benefits to business and acknowledge the need to invest in the right tools to ensure governance, risk and compliance functions all operate to the best of their ability.
That’s why the GRC software industry has become such a growth sector. A 2018 report from Grand View Research valued the global enterprise GRC market at USD 24.76 billion in 2017 and predicted it to grow at a CAGR of 12.8% from 2018 to 2025. This would mean the overall GRC market value in 2015 would stand at an astonishing $64.61 Billion. What is driving such growth?
