Replatforming GRC capabilities is not a trivial effort. It is not as simple as pushing a button to lift and shift capabilities from one toolset to another. Such a lift and shift often results in overinvestment and undervalued outcomes. Successful organizations treat replatforming as an opportunity to review, reimagine, and reframe their GRC program, and then adopt a set of tools that will lend insights for advancing risk culture; improving adherence to regulatory requirements; and cutting down costs of maintaining legacy tools, integrations, and code bases that contribute to inefficiencies.
This paper presented six key factors to consider when replatforming a GRC program. By embracing GRC replatforming as a capability rebuilding exercise, organizations can increase the odds of success by prioritizing their mission, stakeholder experiences, and data-driven insights.