Selling GRC in tough times

There are three prongs in GRC (governance, risk and compliance), and it's fair to say that selling such solutions in tough budgetary times will require emphasis on the R and the C, especially to financial services companies. Selling GRC in tough times might be easier that selling other solutions that may not seem as critical. Gordon Burnes, vice president at OpenPages, described some possible selling points. Generically, risk management is a front-burner issue today, especially at financial firms.

Credit rater Standard & Poor's says it will start paying more attention to the issue soon. At some level, however, risk management might require a very specialized solution. A more general pitch might entail the heightened risk of fraud. The consensus seems to be that there is a greater likelihood of fraud attempts in tough times. A general benefit on the compliance side is controls rationalization--if you could zero in on the essential controls you might be able to cut the total cost of compliance. It will be interesting to see how the GRC market holds up through the recession.  

For more:
- here's the interview with Burnes

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