DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Governance, Risk and Compliance Platform Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Governance, Risk and Compliance Platform market to grow at a CAGR of 9.20 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for comprehensive solutions. The Global Governance, Risk and Compliance Platform market has also been witnessing consolidation of the market. However, fragmented approach to risk management could pose a challenge to the growth of this market.
Key vendors dominating this space include EMC Corp., IBM Corp., MerticStream Inc., and NASDAQ OMZ Group Inc.
Other vendors mentioned in the report are MEGA International Inc., SAP AG, Thomson Reuters Corp., Jade Software Corp., Provititi Inc., Enablon SA, SAS Institute Inc., Wolters Kluwer Financial Services Inc., Oracle Corp., Software AG, Sai Global Ltd., Sword Achiever, and BPS Resolver Inc.
Commenting on the report, an analyst from TechNavio's IT Services team said: ''Generally, most companies carry out their business activities by utilizing a silo approach, which results in a lack of collaboration and standardization between business units for the management of information available at different levels. This approach makes the comparison of information available at various levels very difficult or sometimes impossible, which decreases the possibility of aggregating data about risk. As a result, companies are not able to understand or gain knowledge of risks from an enterprise-wide perspective. Therefore in order to overcome such shortcomings, companies have started to adopt an enterprise-wide approach which provides a wide-ranging view of risks. Such a holistic approach allows the firm to be strategically more proactive about understanding overall business operations and risks involved. Changes across an enterprise can be implemented through the utilization of technology to track and monitor business performance, which leads to cost savings and an improved bottom line.''
According to the report, the Global GRC Platform market is witnessing increased innovations and market consolidation, which is leading toward its development. Organizations are increasingly expecting greater ROI from the adoption of GRC solutions as well as ease of use and reduced overhead.
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