Utilities Tech Outlook Weekly Brief
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In the upcoming few years, the market and the government risk and compliance processes will continue evolving in multiple ways. The Brexit vote has resulted in organizations getting worn out with the regulatory uncertainties. Enterprises have been waiting for elucidation on which of the EU laws besides GDPR will continue to be enforced after the exit of Brexit. Therefore, enterprises are rapidly turning to integrated governance, risk and compliance (GRC) programmes.
Enterprises are revolutionizing their current GRC processes with integrated cloud-first GRC software that strengthens a fully compliant organization. They also understand the need to make the processes and tools that support the software, more intuitive and simple as possible. The new generations of GRC software create more responsive and personalized experiences along with cloud-based GRC deployments are extremely fast and efficient. Developers and partners are collaborating to construct more GRC apps that can cover the entire spectrum of essentials that includes IT risk management.
GRC is now no longer about workflows, apps or checklists but rather building a powerful system of intelligence that leverages technologies like natural language processing and AI. It gives the ability to get insights from large volumes of data. GRC is building intelligence for GRC practitioners and executives and boardrooms.
The next generation of GRC cloud infrastructure is already getting constructed with the aid of the latest technologies like Docker and VMware along with Amazon Web Services and the Google cloud. The GRC cloud is said to go beyond the conservative multi-tenant system structure in which data is co-mingled and instead adopt a multi-instance process.
