A recent report by Galvanize revealed that 41% of Governance Risk and Compliance (GRC) companies are aiming to adopt cloud-based technology.
It was found out that GRC professionals are slowly turning to cloud-based technology, especially to face the new challenges brought by the pandemic. Indeed, most respondents stated that it was difficult to get the data they needed to do their jobs.
Thus, 68% of respondents rated integrated GRC software as totally or mostly efficient, while 63% of GRC professionals using integrated technology have complete visibility into the risks faced by their organizations. This is twice as much as those who use Microsoft 365.
By adopting cloud-based technology, 62% have seen growth in the scope of their roles and 53% noted that their organizations are seeing them as more valuable.
Hence, although 30% of GRC professionals currently use cloud-based technology, 41% stated that they are planning to adopt it. Organizations with cloud-based solutions were able to shift to fully remote work easier and achieve greater visibility.