Industry Thought Leaders Discuss Governance, Risk and Compliance (GRC) at
BWise European Customer Summit
Discussions in London yield insights on importance of prioritizing GRC and building risk-based cultures
London, United Kingdom and Hertogenbosch, the Netherlands, June 18, 2013 – BWise, a NASDAQ OMX company and the leading provider of Enterprise Governance, Risk Management and Compliance (eGRC) software, recently hosted its European Customer Summit. The BWise summit brought GRC leaders from companies based in the Nordics, Benelux, Southern Europe and the United Kingdom together in London at Close Brothers Group Plc.
Bringing industry thought leaders together
Luc Brandts, CTO and founder of BWise said, “We have been providing the largest companies in the world with sustainable GRC solutions for more than 19 years. Bringing global leaders who use our solutions including our more unique capabilities that drive efficiency, such as data analytics for continuous monitoring and continuous auditing yielded great opportunities for sharing thought leadership and actionable GRC insights with one another. Discussions about these capabilities, our focused attention on client support, and the unique examples shared by each of our clients with the group created an atmosphere of scholarly discussions.”
GRC continues to grow in priority as business concern
Regulatory changes, compliance complexity, and the constant need to manage and control risks, were top of mind subjects for the thought leaders who attended. BWise customers shared their experiences managing GRC. The discussions illustrated how invaluable it is to practice an integrated approach to managing GRC with a robust software platform like BWise. Each client started their “GRC journey” – or a GRC software implementation for one department at first then grow to others within the organization – from a different starting point within the company. Some started with internal auditor risk while others with compliance, internal control or finance. All have grown to in their “journey” to now include more than one department so that controls are part of an integrated enterprise approach. These companies are better able to track, measure and manage key organizational risks including those from non-compliance.
Ensuring a risk management culture
Many BWise customers presented their company “GRC Journey” examples. Each addressed lessons learned, challenges and needs for improvement. All of the companies concluded their presentations with the same idea: over the years practicing GRC has evolved greatly. Now GRC involves more than just implementing a technology. It needs to be a core part of the enterprise which starts with proper guidance or executive sponsorship, commitment and the directive to embed a risk culture into the company.
Marcel Starink, BWise VP Sales Europe concluded, ”After hearing several customers present their business cases, it made BWise proud that the customers so explicitly expressed the value that BWise contributes to their organizations.” This is reiterated in several reports by industry analysts. For example, BWise is positioned in the Leaders Quadrant of the 2012 Magic Quadrant for Enterprise Governance, Risk and Compliance (GRC) Platforms.