On-demand software, often referred to as Software as a Service (SaaS), is rapidly gaining favor with decision-makers across all applications and verticals. Lower ownership costs, rapid time-to-benefit, easier scalability and other substantial advantages make the SaaS model highly attractive to organizations under pressure to do more with less.
The SaaS model, however, is particularly well-suited to governance, risk and compliance (GRC) applications. That’s because:
Few companies can fulfill all their GRC objectives in one fell swoop. Instead, they prioritize issues based on exposure and opportunity. The old on-premise software model is designed for “Big Bang” deployments, where a big investment buys a massive technology footprint of functionality, not all of which you may want to use immediately, but that you’re still paying for. The SaaS model, on the other hand, allows acquisition of specific pieces of software functionality on an as-needed basis. This means it delivers tighter alignment between IT spending and business benefit.
Because GRC is still maturing, companies must often adjust and re-adjust software implementations to support emerging best practices. Under the old, on-premise software model, the lag between availability of an upgrade and its actual implementation can be more than a year—and customizations can be costly and time-consuming. This is unacceptable in today’s fast-moving GRC climate. Under the SaaS model, upgrades are available immediately, and configurability is built into the application. So it’s much easier to keep up-to-date with current best practices.
GRC applications often require periodic access by thousands of employees. Best practices may also have to be extended to vendors, suppliers, contractors and other business partners. Under the old, on-premise model, the administration of this access can become a tremendous burden for the IT department. However, under the SaaS model, this burden is fully assumed by the vendor—thereby allowing IT to stay focused on more strategic initiatives.
Few companies have a wealth of GRC technology expertise in-house. That’s why they need outside expertise and experience to complement whatever technology they acquire. Under the on-premise model, software vendors have no real motivation to deliver this critical value-add once they’ve made a sale. An SaaS vendor, on the other hand, has a real stake in ensuring the success of its customers on an ongoing basis—and is thus more highly engaged partners in the GRC process.
These GRC-specific values make the SaaS/on-demand model compelling for companies implementing technology to improve corporate accountability - and minimize the struggle of sustaining compliance.
Read how Gevity deploys AXENTIS software within 30 days:
How Companies Swiftly Deploy Apps: Software as a Service lets companies rapidly launch a new system and keep upfront costs down. -CIO Insights
To sign up for a demonstration, please Request Demo here or contact ComplianceOnDemand@axentis.com.