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Guidebook: Understanding the Financial Value of GRC Management

White Paper, March 18, 2014

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Governance, Risk Management, and Compliance (GRC) technologies are often seen as sunk costs where the business value can only be defined as "the cost of doing business."
 
Nucleus Research has found that there are both tactical and strategic benefits associated with GRC solutions that can provide a framework for calculating the return on investment. This research was conducted in context of the usage of IBM OpenPages, a software solution used to centralize the management and identification of enterprise GRC initiatives such as operational risk, financial risk, and IT governance throughout a distributed enterprise environment.
 
To evaluate the return on investment of an effective GRC management program, Nucleus Research interviewed a number of IBM OpenPages customers in multiple industries, including financial services, IT professional services, utilities, and leisure. This allowed Nucleus to study a variety of operational risk management, strategic risk, and financial controls management implementations and investigate requirements across a wide variety of large enterprises. By understanding how these firms prioritize GRC issues and deployed OpenPages throughout the organization, Nucleus has created an initial framework for calculating the potential value associated with deploying a GRC solution.