Many banks have been burned by governance, risk, and compliance (GRC) software that promises to give them all the tools they need – including optimization, consistency, transparency, stability – but then delivers little to no value in practice because of implementation or configuration challenges and lack of usable content. Finding a better alternative can seem like an impossible task. How do decision-makers justify their decisions? What if they make the wrong selection?
These questions can paralyze risk professionals when the time comes to select new GRC technology, especially when they already have one or possibly more than one GRC solution deployed. But there is a way your bank can respond to those fears and doubts to get the most out of its GRC software investment.