Risk and compliance management are intrinsically embedded in every core business process and are in the hands of field and support staff. With increasingly complex processes and soaring requirements from regulators, risk and compliance management have never been as high on management’s agenda.

The new generation of GRC solutions enables more responsive, comprehensive, and “user-friendly” risk and compliance management. Data analytics, data visualization, automation, and AI open up new perspectives. However, realizing the expected value of these solutions requires prioritizing, a smart set-up, and change management efforts.

Current digital disruptions and growing pressure on resources and budgets mean companies must revisit their risk focus and adjust their risk responses for greater efficiency. The current situation demands that companies manage financial and operational risks more closely. More aggressive regulatory requirements, such as GDPR, anti-corruption laws, and CSR reporting, leave few options other than proactively addressing risk management and compliance challenges.

BearingPoint, an independent consultancy, has been supporting a broad range of companies on risk and compliance management:

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