ROI ERM GRC Blog Post Header
ROI ERM GRC Blog Post Header

Proving the ROI of ERM/GRC

At face value, an enterprise risk management (ERM) and governance, risk, and compliance (GRC) software solution appears to be a costly investment because it doesn’t directly relate to revenue-generating activities.

As many companies must justify committing to an investment, demonstrating the potential return on investment (ROI) for ERM/GRC to seasoned leadership teams is essential.

So how can an enterprise assess ROI to prove the benefits of ERM/GRC solutions?

To effectively assess and mitigate risk as an enterprise-wide function, an ERM/GRC automation tool is needed that can drive business efficiency and resilience. An ERM system can help you deliver ROI and more by helping your organization implement ERM/GRC best practices.

Proving the ROI for ERM/GRC

At face value, an enterprise risk management (ERM) and governance, risk, and compliance (GRC) software solution appears to be a costly investment because it doesn’t directly relate to revenue-generating activities. As many companies must justify committing to an investment, demonstrating the potential return on investment (ROI) for ERM/GRC to seasoned leadership teams is essential.

So how can an enterprise assess ROI to prove the benefits of ERM/GRC solutions?

To effectively identify and assess risk as an enterprise-wide function, an ERM/GRC automation tool is needed that can drive business efficiency and resilience. An ERM system can help you deliver ROI and more by helping your organization implement ERM/GRC best practices.

Building a risk threshold with ERM/GRC

Hiring more staff to manage risk can be costly, and experienced risk management professionals are in high demand. Putting the responsibility for risk management on managers and department heads can be cumbersome and often results in isolated risk silos.

A common solution is to combine data from various existing systems and reports in an attempt to create an enterprise view. A more effective solution to this challenge is to support a company’s risk needs with purpose-built ERM software that features a flexible, intuitive, and comprehensive risk framework.

While a company implements a robust ERM/GRC program, it should be easy to integrate standardized processes to support compliance. This ensures that GRC activities are carried out in all business units and are integrated into the company’s sustainability framework.

A drastic overhaul requires commitment at all levels of a company.  But enterprise-wide solutions can save time, improve decision-making, and reduce stress in the future and prove your software investment to be even more profitable.

How ERM/GRC solutions can provide ROI

One way to maximize ROI is with a next-generation ERM/GRC software. A SaaS solution allows you to realize a return more quickly than traditional applications thanks to its ease of use. Pre-built enterprise risk templates and configurability also enable quick implementation.

By simplifying ERM/GRC with a software solution, your enterprise produces effective and sustainable results. You’ll be able to continually empower your enterprise to anticipate, respond, and adapt to risk and compliance concerns.

Realizing both ERM and GRC work together through risk-centric and data-grounded practices can prove out ROI results. For a deeper dive into how an ERM/GRC platform can produce ROI for your organization, or to help convince your peers and fellow leaders, download this whitepaper.

Defend yourself against vendor and enterprise risk: Learn about our best-in-class VRM/ERM solutions.