Spreadsheets are the most prevalent GRC tool used by organizations. Their use, particularly in reporting, leads to the inevitability of failure.
Consider one organization that was spending 200 hours building a report for the board on risk events that have happened. All the information was trapped in spreadsheets that they had to aggregate, tabulate, and build this report from. Every year 200 hours (it now takes them a minute). The last year they did it this way, they found out they had risk issues that started eleven months back. That is not managing risk; that is reacting to it well after the fact.
Another example is a . . .
[THE REST OF THIS ARTICLE CAN BE FOUND ON THE ANSARADA BLOG WHERE GRC 20/20’S MICHAEL RASMUSSEN IS A GUEST AUTHOR]