Business challenges

In today’s challenging business environment, organizations are under intense pressure to reduce operational risks and save money. The latest AMR Research® survey showed that 38% of companies with fewer than 5,000 employees and 28% with 5,000 or more consider it a top priority investing in IT solutions that reduce business risks.

To address this need, organizations must deploy solutions that strictly control every payment to suppliers or employees to prevent loss of money.
Companies often discover that their IT systems do not protect them against employees who use their access for personal gain. Organizations are also vulnerable to human input errors, some small and some large. IT systems sometimes make mistakes when sending incorrect data from one system to another, due to hardware or infrastructure failure. These risks are very difficult to identify and prevent, but the result is always the same: money leaks out.
Problem with GRC* solutions is that these software programs focus mainly on reducing the cost of regulatory compliance and audit costs. They are not designed to mitigate operational risks that cannot be detected in a single system or a business process at one point-in-time.

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