In today’s connected world, with the risk of reputational damage looming, compliance teams are facing a myriad of challenges—whether it is the influx of data sources or new types of technology. It is becoming mandatory for organizations to have a comprehensive governance, risk and compliance (GRC) solution in place to effectively manage IT and security risks, combat the emerging compliance requirements, and meet business objectives. Evolving technologies like automation, cloud computing, and data analytics are changing the face of compliance and helping organizations better protect margins and reduce costs.
For instance, using automation to test financial transactions for fraud and errors is becoming prominent by the day. Automation is also being applied to other aspects of risk and compliance management such as the workflow of continuous monitoring processes; the distribution and gathering of risk and control surveys and questionnaires; and updating regulatory content and industry standards. Organizations are leveraging data analytics for compliance management as it supports a far more objective and scientific approach to risk assessment and improves on the subjective approach. In-memory computing (IMC) is being used to deliver fast processing of big data. It provides a better understanding of how data is shaped and stored, without the bottleneck of having to access data in storage, helping organizations swiftly analyze information and use it to create the best possible strategies. Visualization tools are also providing greater insight into risk trends and compliance issues.
To keep pace with the changing industry, businesses are looking for compliance solution providers that offer best-in-class technologies and solutions to help seize more opportunities; empowering them with the risk and regulatory intelligence needed to make better decisions and stay at the forefront in today’s competitive environment.
In this issue of APAC CIO Outlook, we present to you “Top 25 Compliance Solution Providers - 2018.” The edition features leading companies that are delivering cutting-edge technology solutions aimed at assisting enterprises in acquiring a comprehensive understanding and knowledge of how the latest solutions will optimize their business processes.