The Evolution of GRC Solutions to Meet Risk Management Needs
The same requirements for improved information about company processes that fostered the development of enterprise architecture solutions motivated the development of "Governance, Risk, and Compliance" (GRC) management tools. Companies want risk and control management to be interrelated closely with enterprise governance and performance. This is a different concept from the early days of government regulatory oversight of corporations, when solutions that met a specific compliance requirement were not integrated with each other or with a company's business processes.
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An effective GRC solution links a company's business activities with the monitoring and management of risk, and aligns internal corporate policies with external regulatory requirements. GRC programs may focus on many enterprise areas, but the most essential to today's businesses are the comprehensive management of operational risks, auditing functions, and control activities.
An active and well-run GRC program, using industry-leading tools, contributes to organizational efficiency and performance, and ultimately, the bottom line.
"We have developed robust, flexible solutions for GRC and operational risk management to confront multiple challenges in a changing environment," explains Lucio de Risi, president and CEO of MEGA. "Because visionaries are known to be farsighted and innovative, we will continue to invest in creative, yet pragmatic software to help our customers achieve their business goals."
We at MEGA think our positioning as in the Visionaries' Quadrants in two Gartner Magic Quadrants – the Magic Quadrant for Operational Risk Management Software for Financial Services and the Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms – demonstrates that the MEGA GRC Suite provides the right solutions for evolving enterprise needs.
Magic Quadrant for Operational Risk Management Software for Financial Services
Douglas McKibben, David Furlonger
The use of ORM software by financial services firms requires capabilities beyond generic audit, control and compliance applications. In addition to qualitative self assessment capabilities, leading institutions are seeking solutions that support quantitative, performance-based models.
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Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms
French Caldwell, Tom Eid
The market for enterprise governance, risk and compliance platforms is evolving from a focus on regulatory compliance to include risk management, audit management and policy management. It is dominated by best-of-breed vendors.
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