The effort to combine governance, risk, and compliance into a single software platform marches on

January 1, 2008 from CFO Magazine - “Companies have spent substantial sums attempting to cope with the many burdens of Sarbanes-Oxley. Spending on Sarbox peaked in 2006, with publicly traded companies forking out about $2 billion on technology and consulting to help them assess internal controls and material weaknesses. With much of the Section 404 scut work now automated, customers want to leverage that initial investment and create a foundation for future compliance needs…

Vendors like BWise, Qumas, 80-20, OpenPages, and Paisley have created impressive GRC platforms — that is, portals where managers can access and monitor information about governance, risk, and compliance. The problem, say analysts, is that no software publisher covers all the GRC bases.”

180 View – The article predicts that “GRC will be as common a business term as ERP”. We think that ERP will be extended to include GRC just as ERP has been extended to include CRM, BI and CPM.