DECEMBER 2022CIOAPPLICATIONS.COM6EditorialGRC in the Changing IndustryThe past two years have been nothing short of a whirlwind that shook businesses and industries around the globe--exposing how fragile and vulnerable we really are. While many failed and countless others struggled, there were those who demonstrated remarkable agility and resilience and are successfully riding this wave of disruption.Many companies pivoted their processes and workforces to fully virtual environments during the Covid-19 pandemic and some plan to maintain the hybrid telecommutes and in-person approach afterward. That approach, however, will require companies to establish a solid GRC strategy to protect sensitive data among their distributed workforce or risk data breaches, reputational damage and profit loss.An unprecedented rate of change is occurring in the business. Some are being bought, while others are being sold. As a result, business models are changing as well as strategic priorities. Additionally, GRC tools, procedures, and functions are evolving. Make sure that these changes occur in a coordinated, carefully thought-out, and systematic manner.Many organizations are looking to slash their external review or DSAR fulfillment costs associated with data protection regulations which run into thousands when external counsel is used. It makes much more sense to bring such processes in-house where they can be carried out using automated legal GRC software by non-legal team such as HR.The drive to bring more legal processes in-house will also see demand intensify for solutions that prioritize the user experience (UX) and make legal processes less opaque. Platforms that offer a single user interface and visual dashboards will gain the edge over competitor solutions because they will minimize the need to train non-legal users on how to access this data.At the same time, we're seeing the need for more checks and balances to be built into the technology to ensure data is shared correctly over international boundaries, with any potential violations flagged to team leader or administrator. This is making it much easier for organizations to streamline their data processing across multiple jurisdictions.Let us know your thoughts.Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 15 - 2022, Volume 08 - Issue 25 (ISSN 2644-240X) Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com Managing EditorJoe PhillipEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comGraphics & ArtEditorial StaffBen JacksonDaniel HolmesEzra BenjaminCatalina JosephRose DcruzSenior WritersClara MathewLeah JaneRoyce D'SouzaAsher BlakeDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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