GRC software has reached 20 years of maturity. Many organizations purchased internal controls management tools in the early 2000’s to streamline the internal controls testing and certification process based on a COSO framework to comply with Sarbanes Oxley regulations such as SOX-302 and SOX-404. Remember Approva? LogicalApps? Versa? Oracle ICM? Advanced Application Controls Governor? Oracle GRC? Where are they now?
In 2022, organizations that have remained on outdated GRC software are unable to mitigate emerging risks, face operational inefficiencies and lose competitive advantages as a result of digital transformation including big data, hybrid work models, the Internet of Things (IoT), and cloud applications—all of which contribute to an expanding risk profile. These include cyber concerns, data exposure, and privacy issues.
Join GRC industry veterans Soumya Chakraverty, RiskPro Solutions and Adil Khan, SafePaaS as they discuss the when, why and how of upgrading GRC technology and what capabilities to consider in your new solution.
Senior Business Consultant
Soumya is an Executive Consultant in enterprise and operational risk management. He helps companies to develop and implement strategies to manage their complex risk and compliance needs. He has led and managed large program implementations to implement risk and control identification and assessment processes at large financial institutions and other companies to help comply with regulatory requirements. He has also designed and implemented Governance, Risk and Compliance (GRC) solutions, encompassing and converging multiple disparate risk assessment programs into cohesive risk repositories. He assists companies to enhance their enterprise risk management capabilities through policies and procedures implementation, Lines of Defence definition, risk culture and training, and risk analytics.
CEO at SafePaaS with over 25 years of experience in enterprise business systems. Adil serves on the board of the Oracle Applications Users Group (OATUG) GRC SIG. Adil has authored “Governance, Risk and Compliance Handbook for Oracle Applications”. He has delivered over fifty presentations on GRC trends, best practices, and case studies at many industry conferences including Gartner GRC Summit, IIA, ISACA, Collaborate, UKOUG, and Oracle OpenWorld. Adil has successfully designed and implemented internal controls management systems for more than 15 global companies listed on the NYSE and NASDAQ. His expertise includes streamlining and automating Governance Risk and Compliance processes based on industry standards such as ERM-COSO and CoBIT.