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Governance, Risk and Compliance Survey Pinpoints Keys to Operational Success
Survey Conducted by OCEG and Sponsored by Axentis Introduces Key Strategies for Implementing and Maintaining an Effective GRC Initiative
Cleveland, Ohio - July 12, 2006 - Axentis , the leading provider of on-demand governance, risk and compliance (GRC) management solutions , and the Open Compliance and Ethics Group (OCEG), a nonprofit consortium of some of the most respected companies, nonprofits, business leaders and academics in the world, today announced the results of a survey of over 200 GRC practitioners. The survey pinpoints key technology considerations for a successful and sustainable GRC initiative and demonstrates OCEG and Axentis's overall mission to help companies drive performance by enhancing corporate culture and integrating GRC processes.
"GRC processes impact all large corporations regardless of their industry or geographic location. Effective management of these mandates, whether Sarbanes-Oxley or COBIT, will greatly determine the ongoing success of each organization," said Ted Frank, president of Axentis and co-chair of the OCEG Technology Council. "The results of this survey strongly indicate that companies with comprehensive plans of attack and competent, dedicated personnel are better positioned to manage these dangerous waters and achieve superior overall performance."
Key findings from the recent OCEG survey include:
- More than 50 percent of participants have not implemented a GRC roadmap
- 58 percent of the respondents who have a roadmap in place stated that their compliance needs were being met while 85 percent of those who did not have a roadmap felt their compliance needs were not being satisfied
- 70 percent of those who had an IT resource assigned specifically to GRC answered that their needs were being addressed while 71 percent of those who did not have an assigned IT resource felt their needs were not adequately being satisfied
- A distinct correlation exists between program success and the percentage of applications utilized for GRC management efforts. Practitioners with 50 percent or more of their applications being GRC-specific achieved a 100 percent positive response to meeting compliance needs
"This survey is part of OCEG's unceasing effort help organizations fully understand the steps that must be taken to effectively manage GRC applications and achieve a sustainable compliance program," added Frank. "In the future we will introduce additional surveys, the results from which will be dedicated to answering other key questions and providing guidance to all issues GRC-related."
More discussion of the survey results will appear in the upcoming issue of GRC 360, an OCEG publication. The results are available on the Axentis Web site at http://gw.vtrenz.com/?IU4W4S3NLX .
About Axentis
Axentis delivers the only on-demand business performance optimization environment that empowers companies to turn governance, risk and compliance initiatives into better business performance and competitive advantage. With its unique software-as-a-service (SaaS) model, Axentis Enterprise (Ae) Suite delivers a one-world view of the entire organization for better risk management, mitigation and compliance. Ae is easy-to-use and can be deployed quickly, delivering immediate impact and a quick return on investment (ROI). Axentis, which was recently named an industry leader and innovator by several leading analyst firms, touts over 700,000 users from leading Global 2000 companies including ADT and AstraZeneca Pharmaceuticals. Axentis is headquartered in Cleveland, Ohio with data centers in Boulder, CO and Basel, Switzerland. For more information, please visit http://www.axentis.com.
About the Open Compliance and Ethics Group (OCEG)
OCEG is a not-for-profit organization that provides a framework (the OCEG Framework) for integrating governance, compliance, risk management, and integrity into the tangible practice of everyday business; drives adoption of the Framework through a multi-industry, multidisciplinary coalition; and provides a community of practice for the exchange of information, tools, benchmarking and feedback for continual improvement of the Framework. For more information on OCEG and the OCEG Framework, visit www.oceg.org.
