OpenPages’ solutions inherently deliver a risk-based approach to GRC.  This approach aligns perfectly with PwC’s top-down approach to GRC.  They’re always asking the question, “What are your business objectives and what are you doing to achieve them?”  We find that many service providers in the GRC business tend to take a bottoms up approach, implementing a comprehensive controls infrastucture, for instance, without making sure that the right controls are being implemented or that the right business objectives are being met.   Given the financial constraints facing many customers, allocating resources effectively is a critical success factor for GRC programs,  and we look forward to working with PwC to help our joint customers operationalize those programs for better business outcomes.

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Gordon Burnes, OpenPages’ vice president of marketing commented in the story about the desire for convergence in the risk and compliance space continuing for financial services firms and other highly regulated industries: "The broader trend towards convergence in compliance is accelerating because the environment that the control groups are putting in place for regulatory and internal policy compliance frequently overlap with the mandate of the operational risk group. Business managers are realising that, while complying with regulatory mandates and mitigating risks to a certain business process certainly have different objectives, a single loss event can affect the outcome of each."