Riskonnect, the leader in integrated risk management (IRM) solutions, has released a commissioned report conducted by GRC 20/20, a provider of independent insight into governance, risk management, and compliance (GRC) solutions and strategies. The research uncovered significant upside and time and cost savings for organizations that deploy Riskonnect’s Business Continuity & Resilience solution.
GRC 20/20 evaluated and verified the implementation and value of Riskonnect with customers using the solution, including a global investment management firm, global insurance company, global life sciences firm, retail chain, and healthcare system. GRC 20/20 confirms that Riskonnect has delivered measurable value across all areas of the business continuity management lifecycle.
“This report provides concrete evidence of the benefits of Riskonnect’s platform,” said Andrea Brody, chief marketing officer at Riskonnect. “The customers in the study previously relied on fallible manual processes and a maze of documents, spreadsheets, and emails, or cumbersome legacy systems to handle business continuity and resilience. Now, with end-to-end enablement, a 360° contextual view, and more time and resources at their disposal, these companies are much better equipped to confidently respond to and recover from disruptions.”
The report uncovered that organizations saw ROI within the first 6-7 months of using Riskonnect’s Business Continuity & Resilience solution. The five-year return on investment was over 200% for large (203%), medium (233%), and small (247%) organizations. GRC 20/20 also identified time and cost savings in key areas for Riskonnect customers, including:
– 75% less time on oversight and management of continuity, resilience, and other administrative activities
– 80% reduction in time spent on corrective and preventative action plans (CAPA) and issue remediation and resolution
– 75% reduction in time spent creating and updating individual business impact analyses (BIAs) and 10% reduction for reporting and summarizing BIAs
– 75% decrease in time spent creating new and updating existing business continuity plans
– 100% reduction in time required to upload and distribute continuity plans
“The risk landscape is rapidly evolving. Leading organizations are putting business continuity at the forefront of their operations and are investing in their ability to drive resilience in an increasingly volatile environment. Riskonnect is an established player in the GRC market and provides the visibility, efficiency, and agility companies need to successfully navigate the adversity and hit their objectives,” said Michael Rasmussen, GRC analyst and pundit at GRC 20/20 Research, LLC.
Learn more about the ROI of Riskonnect Business Continuity & Resilience. Download the full report.
About Riskonnect
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,000 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 800 risk management experts in the Americas, Europe, and Asia. To learn more, visit www.riskonnect.com.
About GRC 20/20 Research, LLC
GRC 20/20 Research, LLC (GRC 20/20) provides clarity of insight into governance, risk management, and compliance (GRC) solutions and strategies through objective market research, benchmarking, training, and analysis. We provide objective insight into GRC market dynamics; technology trends; competitive landscape; market sizing; expenditure priorities; and mergers and acquisitions. GRC 20/20 advises the entire ecosystem of GRC solution buyers, professional service firms, and solution providers. Our research clarity is delivered through analysts with real-world expertise, independence, creativity, and objectivity that understand GRC challenges and how to solve them practically and not just theoretically. Our clients include Fortune 1000 companies, major professional service firms, and the breadth of GRC solution providers. To learn more, visit https://grc2020.com/.
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