target audience: TECH BUYER Publication date: Sep 2022 - Document type: IDC PlanScape - Doc Document number: # US49617722
IDC PlanScape: Future of Trust — Implementing Automated Compliance Management for Better Efficacy and Efficiency
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Abstract
This IDC study discusses automating compliance management for better efficacy and efficiency. Compliance management has become incredibly complex with the breakneck pace of regulatory change coupled with differing requirements by business unit, product, and region. Manual compliance management efforts cannot keep pace with global regulatory change resulting in oversights that can be costly to an organization both in legal fees as well as reputational damage. This report will examine compliance automation tools, their improvement to compliance efficacy and efficiency, and their importance in maintaining trust.
"Regardless of whether compliance automation is being implemented as part of a larger GRC initiative or specifically for compliance management, an organization needs to be prescriptive in evaluating vendors," says Amy Cravens, research manager, IDC Governance, Risk, and Compliance Solutions. "There is a broad breadth of players with varying capabilities in this market and organizations should develop a clear set of priorities. Determine what is important to your organization and evaluate vendors based on those criteria."