Chartis Vendor Spotlight: Integrated GRC Solutions, 2024 Analyst Report

We are proud to be positioned as a Category Leader both in the RiskTech Quadrant® for Enterprise GRC Solutions and in the RiskTech Quadrant® for Operational Risk Solutions, 2024!

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Chartis RiskQuadrant EGRC Operational Risk Solutions 2024

MEGA, recognized Category Leader in two GRC RiskTech Quadrants®!

Chartis Research assesses risk technology vendors using an objective methodology based on 'Completeness of Offering' and 'Market Potential'. MEGA International has been recognized a Category Leader in the fields of Enterprise GRC and Operational Risk Solutions.

Here's why MEGA has achieved these positions:

  • Data Management: MEGA excels in managing complex risk and compliance data, integrating diverse sources like client information and regulatory requirements (enabling cyber resilience initiatives, like DORA compliance).
  • Collaboration and automation: MEGA stands out with its robust workflow and automation capabilities, integrating company objectives with processes, risks, controls, and applications through seamless workflows. The platform features an AI assistant that automates risk descriptions and process diagrams, enhancing real-time risk management and control evaluations.
  • Prepackaged content and regulatory support: MEGA offers essential templates and customizable solutions for compliance and risk management. The AI assistant also generates detailed risk descriptions and control measures.

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Understanding the Chartis Reports

Chartis Research is a global research and advisory firm specializing in risk management technology. The RiskTech Quadrant® provides a comprehensive market overview through in-depth research and a scoring system that highlights the most suitable technology solutions for various organizational needs. Chartis assesses vendors based on the completeness of their offerings (including content management, tools, and regulatory support) and their market potential (focusing on business model, market reach, financial health, customer satisfaction, and growth strategy). Their evaluations include detailed forms, customer surveys, expert interviews, and vendor briefings.


Enterprise GRC Solutions

Chartis recognizes effective Enterprise GRC solutions when they manage large data volumes for risk assessment and compliance monitoring, offering tools for risk quantification, compliance tracking, and advanced data analytics and visualization. Leading vendors provide customizable, scalable solutions, including low-code/no-code platforms, allowing users to adapt and extend their GRC environments without extensive programming, thereby enhancing proactive risk management and decision-making.


Operational Risk Solutions

Chartis recognizes advanced tools when they support regulatory compliance through automated monitoring and reporting aligned with specific frameworks. They excel in data management, integrating and transforming data from multiple sources for efficient risk assessment and mitigation. These solutions feature scenario analysis, incident management, and interactive risk visualization tools, such as dashboards and graphs, to enhance risk monitoring and communication.

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Trusted by more than 2,000 customers

MEGA International is a global SaaS software company that develops leading software solutions for Enterprise Architecture, Business Process Analysis, Governance, Risk and Compliance, and Data Governance to guide organizations in their business transformation initiatives. 

To support transformation as a collaborative effort that requires people to “see the bigger picture” on how organizations operate, MEGA created a single SaaS platform, HOPEX, that connects IT leaders, process owners, risk managers, and data governance officers. The solution provides a single repository to help them collect, visualize, analyze, and communicate information to better plan and adapt to change.

MEGA has emerged as a credible competitor in the GRC space, a development reflected in our quadrant ratings. It has achieved this largely by leveraging its strong foundational capabilities in key sections of the GRC ecosystem, notably IT risk and related areas.
Sidhartha Dash, Chartis Research

This report contains Chartis’ updated view of the market and vendor landscape for governance, risk and compliance (GRC) solutions. It uses Chartis’ RiskTech Quadrant® to explain the structure and evolution of the market, which uses a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization’s needs. The RiskTech Quadrant® does not simply describe one technology solution as the best; rather, it has a sophisticated ranking methodology to explain which solutions would be best for buyers, depending on their implementation strategies. Chartis tracks and analyzes how the risk function is undergoing a deep and structural transformation, key drivers of GRC applications, and considers the technology and industry trends that will continue to shape the future of GRC solutions.