GRC 20/20 is accepting nominations for the 2018 GRC Value Awards!
Successful governance, risk management, and compliance (GRC) delivers the ability to effectively mitigate risk, meet requirements, satisfy auditors, achieve human and financial efficiency, and meet the demands of a changing business environment with agility. GRC solutions should achieve better performing processes that utilize more reliable information. This enables a better performing, and a less costly, more flexible business environment. Clients engage GRC solutions with the goals of understanding and managing risk, ensuring compliance with obligations, improving human and financial efficiencies, enhancing transparency, and managing GRC in the context of business change.
GRC 20/20 measures the value of GRC engagement around the elements of efficiency, effectiveness and agility. Organizations need to be:
- Effective: At the end of the day it is about effectiveness. How does the organization ensure risk and compliance is effectively understood, monitored, and managed at all levels of the organization?
- Efficient: GRC engagement provides efficiency and savings in both human and financial capital. GRC efficiency is achieved when there is a measurable reduction in human and financial capital resources needed to address GRC in the context of business operations.
- Agile: GRC engagement delivers business agility where organizations can respond rapidly to changes in the business environment (e.g., employees, business relationships, mergers and acquisitions, new laws and regulations) and communicate to employees GRC context to these changes.
The 2018 GRC Value Award nominations will be accepted through 31 July 2018 (no exceptions, nomination form closes down at midnight CDT on 21 July). Recipients will be determined by mid-September with announcements in November.
The 2018 GRC Value awards are to recognize GRC solutions that have returned significant and measurable value to an organization. The nomination must be on a specific implementation/project in a verifiable client. No generalizations or consolidations of multiple clients. The GRC Value awards are to acknowledge specific QUANTIFIABLE value in a specific instance. These are cold hard facts that empirical, measurable, and objective. Every nominee if selected for final recognition (both solution provider and client) must be willing to spend up to an hour on the phone (separately and not together) to discuss the submission and validate accuracy of submission. Only the top nominations in each category will go through the validation process.
All award submissions are based on a single real-world implementation. Factual accuracy and integrity is necessary. GRC 20/20 will take all the nominations and select in each category the submissions that articulate the greatest quantifiable value in objective, measurable terms. We are looking for hard facts not just soft bullet points. Time saved, dollars saved, FTEs reduced. Numbers win, generalizations lose. Every submission must have contact information of the organization that claims to have received this value. These organizations will be contacted and interviewed to determine if they have actually received the stated value as portrayed. Any misrepresentation of issues found will disqualify the nomination from receiving the award and the next set of nominations in each category will be evaluated.
Each recipient of an award will be written up and acknowledged. Details of the nomination will be referred to but can be handled anonymously (if formally requested) in award announcements/communications from GRC 20/20. So the client reference case study does not have to be named and can be anonymous, but GRC 20/20 must be able to know who the client case study is and validate the facts.
The seventeen categories for submission are:
- Audit Value Case Study
- Automated / Continuous Control Value Case Study
- Business Continuity Value Case Study
- Compliance Management Value Case Study
- Enterprise GRC Value Case Study
- Environmental, Health &; Safety Value Case Study
- IT GRC Value Case Study
- Internal Control Value Case Study
- Issue Reporting & Management Value Case Study
- Legal Management Value Case Study
- Physical Security Value Case Study
- Policy & Training Value Case Study
- Quality Management Value Case Study
- Reputation & Responsibility Value Case Study
- Risk Management Value Case Study
- Strategy & Performance Value Case Study
- Third Party Management Value Case Study
Please submit nominations before midnight on 31 July 2018. Nomination forms will be accepted until this date, finalists selected and deeper dives in mid-September, with recipients selected by November and announced in the beginning of December. Award recipients will be announced to vendors end of October so that coordinated announcements/press releases can go out in the beginning of December.