OpenPages Survey Results

OpenPages, a provider of enterprise GRC management solutions that optimize business performance, today announced survey results that highlight current realities and future concerns regarding risk management and other GRC activities for 2009. The survey, which polled over 150 strategic risk, governance and finance professionals from such Fortune 1000 companies as AIG, Carnival Corporation, TD Ameritrade and Duke Energy, was conducted at OPUS 2008 -- the 5th Annual OpenPages User Symposium in Boston, Ma. The survey results revealed that organizations expect investment in risk management initiatives will increase in 2009 and that a software platform to help integrate and manage all of their efforts will be crucial to their success.

Survey Results

-- While industry experts predict that overall IT spending may be flat or down next year, over 90% reported that investments in GRC technology will increase or at least remain the same in 2009.

-- 90% of those polled expect new laws and regulations to be introduced next year in an effort "to improve corporate risk management oversight."

-- Over 50% said that the current crisis has increased the priority of enterprise-wide risk management, and nearly 60% said that the crisis has put the risk management function in the spotlight for the CEO and board.

-- Companies divulged that their biggest GRC challenge next year will be to "converge GRC initiatives across the enterprise," and 70% characterized their current state of GRC management efforts as siloed.

-- Companies also revealed that most are poised for improvement: less than 10% characterized their ERM efforts as excellent, as described by S&P's ERM ratings categorization.