Comparing in-house developed solutions vs. GRC software
As recently as a few years ago, when executives and management teams discussed how to manage governance, risk management and compliance (GRC), some of the questions were:
- Excel spreadsheets seem to be working well for the organization, or aren’t they?
- Should we use spreadsheets to “automate” compliance and risk management projects?
- Why spend precious budgets on software when much lower-cost solutions are available?
- Is it time to go through the trouble of selecting and implementing a GRC platform?
Today most discussions have moved well beyond “if” there is a need for a solution or the pros and cons of spreadsheets to now talking about how to solve GRC challenges with technology.
This whitepaper elaborates on the challenges of building GRC technology in-house and takes a critical view of why commercially available GRC solutions are the preferred choice.