This IDC Perspective examines the implementation of GRC (governance, risk, and compliance) tools, which are essential for organizations seeking to manage risks, ensure compliance, and enhance governance practices. By providing a centralized platform, automation capabilities, and decision support tools, GRC tools enable organizations to navigate complex regulatory environments, mitigate risks, and achieve their strategic objectives with confidence.Successful implementation of a GRC tool carries certain organizational prerequisites to ensure smooth adoption and effective utilization. The primary prerequisite is support and sponsorship from senior leadership to ensure the initiative receives the necessary resources and attention. Other prerequisites are addressed in this document."Implementing a GRC tool can be complex due to the multitude of processes, stakeholders, and regulations involved. We encourage IT leaders to think big when it comes to choosing a GRC tool, articulating a comprehensive vision for governance, risk management, and compliance as well as setting a strategic direction. That's the first step in the process," says Erik Werson, adjunct research advisor, IDC's IT Executive Programs (IEP).
Executive Snapshot
Situation Overview
Organizational Prerequisites
Cost
Implementation: "Think Big, Start Small"
Advice for the Technology Buyer
Selection Criteria
Best Practices for Selecting and Implementing GRC Tools
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