GRC State of the Market 2023 – Benchmark Research Report
Governance, Risk, and Compliance teams and organizations face a wide range of challenges and obstacles in 2023. These include a constantly shifting landscape of regulations, emerging technologies, and an ever-growing list of cybersecurity threats. Contending with these challenges is a top priority for organizations of all sizes.
To get a sense of the overall GRC landscape and assess where different organizations are within that landscape, SAPinsider surveyed 135 members of our community in January and February of 2023. According to our research, new technology upgrades and migrations like the move to SAP S/4HANA and the cloud are the most common drivers of GRC strategy among respondents’ organizations. That is a shift from last year, when increasing security threats and attacks were the top overall driver.
The research identified some significant trends in the organizational priorities and challenges around automating GRC processes, some of which are:
- More than half of organizations (58 percent) said new technology upgrades and migrations, such as the move to SAP S/4HANA and the cloud, comprised a major driver of GRC strategy, the highest share of respondents.
- Nearly half of respondent organizations aim to centralize and automate controls monitoring and management capabilities to address core drivers of GRC strategy in 2023.
- Over three-quarters of organizations (78 percent) view security monitoring and threat detection as an important or very important requirement, the highest share of respondents.
- Nearly 70 percent of respondents use SAP S/4HANA, compared to 52 percent in 2022. Other top applications in 2023 include SAP ECC (52 percent), SAP SuccessFactors (37 percent), and SAP Concur (35 percent). Nearly 42 percent of organizations have five or fewer compliance-related applications integrated with SAP. Fewer than 15 percent had more than 20 such applications integrated
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