Day: January 28, 2013

The 2013 GRC Technology Innovator awards was filled with competition.  The number of submissions more than doubled over 2012.  With 57 submissions there were only twelve slots for winners.  GRC 20/20 looked through all of the submissions, asked for clarification where needed, and selected the 12 recipients to receive this honor.

Number 10 is Compliance Assurance Corporation’s Compliance Idea eXchange (CIE) which showed technology innovation for their ability to move from GRC idea to “there's an app for that. 

Compliance Assurance Corporation’s Compliance Idea eXchange (CIE) enables their clients to drive innovation, with a particular focus in GRC in the insurance vertical.  Clients define and model new applications that are made available as applications to other clients.  Client innovations are referred to as ideas that are turned into Apps. The Apps are embeeded into the Idea eXchange interface; allowing other CODE users to find, share, and execute value-added Apps.  The Idea eXchange functions for GRC similar to Apple’s App Store.  CIE provides GRC professionals with the ability to “mold” the platform to solve challenges in a variety of relevant domains. The eXchange provides a platform where these new, innovative ideas can be shared and reused by other companies. It empowers clients to harness their own innovative ideas and concepts, and transform them into real-world business and compliance process improvements.  What is different about this approach compared to similar efforts in the past is the depth of focus for apps and content on the insurance vertical specifically.

The 2013 GRC Technology Innovator awards was filled with competition.  The number of submissions more than doubled over 2012.  With 57 submissions there were only twelve slots for winners.  GRC 20/20 looked through all of the submissions, asked for clarification where needed, and selected the 12 recipients to receive this honor.

Number 11 is SAP's HANA Analytics Foundation for SAP GRC Solutions which showed technology innovation for advancing GRC analytics. 

In the era of ‘Big Data,’ SAP HANA Analytics Foundation for SAP Solutions for GRC shows innovation in addressing the burgeoning velocity, volume, and variety of GRC governance, risk and compliance data in the enterprise. This The SAP HANA® platform leverages in-memory data to speed analysis of large volumes of data to provide insight. SAP HANA speeds the process of gathering, analyzing, and reporting and creates new opportunities for cross-system GRC and business analytics.  It allows for complex analysis by aggregating thousands or even millions of pieces of data across systems that used to be a task that must be run overnight or during off-hours. One example of the value of SAP HANA is in the area of fraud analytics with the ability to take an entirely new approach to fraud detection, prevention and management leveraging in-memory technology to provide insights into fraud, waste, and misuse allowing companies to take action before damage occurs. SAP HANA enables fraud detection in quasi-real-time and prevents transactions from proceeding to avoid loss. It significantly improves the accuracy of fraud identification by reducing the number of false positives and investigation team workload, and leverages predictive analytics to analyze potential fraud scenarios and adapt to changing fraud patterns.

The 2013 GRC Technology Innovator awards was filled with competition.  The number of submissions more than doubled over 2012.  With 57 submissions there were only twelve slots for winners.  GRC 20/20 looked through all of the submissions, asked for clarification where needed, and selected the 12 recipients to receive this honor.

Number 12 is ControlPanelGRC's AutoAuditor which showed technology innovation for efficiencies in reporting. 

ControlPanelGRC’s AutoAuditor enables companies to be in a state of continuous audit readiness by automating manual reporting processes, and through its intuitive design AutoAuditor adapts to each company’s specific reporting demands. This turnkey solution automates repetitive report generation processes to push the report output to appropriate business or risk owners for review; by eliminating any additional training or tedious setup, once installed AutoAuditor pushes reports directly to those necessary resources rather than needing to be pulled. With AutoAuditor preparing for an audit no longer has to be major cause of stress that requires internal teams to spend weeks researching reports, collating spreadsheets and manually tracking down paper reports buried in filing cabinets. Business or risk owners perform the value add steps of reviewing the output and the workflow engine captures the signoff and exception documentation. The automatic check and balance system not only pushes the necessary report on cue, but also records the mandatory review, which is then automatically saved as future audit evidence. Value is achieved in eliminating human error, missed analysis opportunities, and subsequently, possible penalties if the processes are not executed on a timely basis.