Once business organizations reach a certain size, their leaders have to start thinking systematically about how to structure reporting relationships to ensure vital information reaches the top; how to identify and account for the internal and external risks that could hobble the company; and how to ensure the organization is complying with a skein of local, state, and federal laws and regulations. This area of “governance, risk, and compliance” or GRC is the one that my company, MetricStream, helps people with. And like every executive, I try to stay aware of the trends affecting my industry.
Many of the larger trends that dominated the tech news in 2013—including social media, big data, mobility, and the cloud—promise to affect risk and compliance efforts in specific ways in the coming year. Organizations have realized the business benefits of these technologies, and will now look for effective ways of managing the associated risks and regulations. In that context, here are four key technology trends that will shape risk and compliance efforts in 2014:
1) Social Media Strategies Will Place Greater Emphasis on Risk Monitoring
2) The Bring-Your-Own-Device (BYOD) Tug-of-War Will Intensify
3) Big Data Will Be Used to Drive Risk Decision-Making
4) Internet Security Will Witness New Innovations
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