New Gartner Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007
The complexity of corporate governance, policy management and new internal controls within a stricter regulatory environment is according to Gartner driving the market for finance governance, risk and compliance management (GRCM) applications.
Gartner har published a new Magic Quadrant for GRCM applications, and the included vendors support a minimum level of functionality for reporting, workflow for reviews and approvals, and support for documentation pertaining to internal controls. Solutions for corporate governance, risk and compliance management require according to Gartner the following product capabilities:
- Reporting
- Dashboarding
- Document and records management
- Testing
- Remediation management
- General ledger integration
- Other business application integration
- Business process modeling
- Policy management
- Risk management and risk assessment
- Support for multiple control frameworkds
- Support for multiple regulations across multiple business units
- Controls automation and monitoring
When considering the functionality above, ECM, ERP, BI and BPM and other finance and audit GRCM vendors should be expected to play a significant role in the finance GRCM market.
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