LogicGate helps organizations quantify the value of GRC programs

LogicGate introduced the Governance, Risk, and Compliance (GRC) Program Value Realization Tool, available to customers through the Risk Cloud platform.

This new tool provides visibility into the financial value of GRC by automatically tracking key program initiatives in real-time. These include resource efficiencies, tracking revenue enablement, and proactive risk reduction, allowing leaders to easily correlate risks with value and more effectively illustrate GRC’s impact on the organization’s bottom line – an industry need that has not been met until now.

The ability to measure GRC program performance is a universal industry challenge due to a lack of standardized risk metrics, poor alignment across business units, and the perception of being a “cost center.” This hinders leaders’ ability to benchmark progress over time, quantify ROI, and show alignment with broader business objectives.

As companies grow, so too do their GRC programs, and measuring the business impact of GRC only becomes more complex. However, LogicGate’s new Value Realization Tool gives GRC leaders access to real-time data and conservative financial values tied to vital program operations that enable more effective communication with C-Suite Executives and Board Members.

The GRC Program Value Realization Tool provides a holistic view of program performance in one central dashboard by cross-mapping organizational strategic objectives and leveraging the power of Spark AI to seamlessly integrate insights from across all core GRC functions:

• Resource/system efficiency– Effortlessly calculate cost savings driven by GRC initiatives through the reduction in manual emails sent, the reduction in data points managed, and the reduction in time spent managing multiple systems.
• Revenue enablement– Generate estimated revenue stemming from markets opened due to framework compliance, as well as revenue enabled by board decisions and new revenue gained from customers requiring certifications such as SOC 2, GDPR, and PCI.
• Proactive risk reduction– Subtract residual risk from inherent risk to measure the reduction in risk exposure, and easily monitor GRC focuses such as enterprise risk, risk domains, covered policies, compliance across control frameworks, and risk reduction from managing third parties.

LogicGate’s GRC Content and Strategy team provides sample KPIs for each core GRC use case along with implementation and reporting guidance to help organizations successfully measure and monitor the most impactful program performance metrics for their business. LogicGate acts as a true partner throughout this process, empowering enterprises to accurately assess their own unique financial values associated with improving GRC efficiency and effectiveness. By doing so, program leaders can align with GRC best practices and avoid common KPI pitfalls to confidently measure—then optimize—program performance.

“With cyber risks growing and the regulatory landscape evolving faster than ever, organizations today require the ability to closely track their GRC programs from all angles, including financial,” said Matt Kunkel, CEO of LogicGate. “Too many businesses are flying blind when it comes to quantifying the value of their programs and how that equates to tangible business impact. Now, they’re able to effectively measure the performance and financial impact of their GRC programs, tying outcomes directly to the business’ bottom line. This equips risk leaders with the financial understanding needed to elevate cost savings and justify additional GRC spend, ultimately transforming the dynamic between risk leaders and members of the C-Suite and the Board.”

The LogicGate GRC Program Value Realization Tool is a value-add resource only available for Risk Cloud customers, converting program metrics into clear financial outcomes, making it easier for leaders to communicate the tangible value of GRC to stakeholders and successfully secure ongoing investment. These capabilities provide organizations with a complete, contextualized financial understanding of their GRC activities, enabling more strategic and informed decision making across the enterprise.