eGRC is a framework for managing enterprise governance, risk, and compliance. It provides a holistic view of an organization’s risk and compliance posture, and enables businesses to make informed decisions about how to allocate resources to mitigate risks.
eGRC can be used to manage compliance with internal policies and external regulations. It can also be used to assess and manage risks associated with business activities.
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Key Trends
There are a few key trends in eGRC technology. One is the move towards cloud-based solutions. This is driven by the need for organizations to be more agile and have greater flexibility in how they manage their compliance programs. Another trend is the use of artificial intelligence and machine learning to help organizations automate their compliance processes. This is seen as a way to improve efficiency and accuracy, and to reduce the cost of compliance.
Key Drivers
There are several key drivers of the eGRC market.
One key driver is the need for organizations to have a centralized platform for managing their governance, risk, and compliance (GRC) activities. This is especially important for large organizations that have multiple GRC programs and need to ensure that they are coordinated and aligned.
Another key driver is the need for organizations to automate and streamline their GRC processes. This includes the need for tools that can help organizations manage and monitor their GRC activities, as well as automate the execution of GRC processes.
Finally, another key driver is the need for organizations to improve their visibility into their GRC activities. This includes the need for tools that can provide real-time reporting and analytics on GRC activities.
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Market Segments
The market is segmented by component, software, services, enterprise type, vertical, and region. By component, the market is divided into software, and services. By software, the market is bifurcated into audit management, compliance management, risk management, policy management, and incident management. By services, the market is classified into integration, consulting, and support. By enterprise type, the market is bifurcated into small and medium enterprise (SME), and large enterprise. By vertical, the market is bifurcated into BFSI, construction & engineering, energy & utilities, government, healthcare, manufacturing, retail & consumer goods. By region, the market is classified into North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The global eGRC market report includes players such as IBM, Deloitte, KPMG, EY, SAP SE, Bwise, MetricStream Inc., Thomson Reuters, Wolters Kluwer, and Protiviti
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Reasons to buy eGRC Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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