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Re: GRC Software: Not Just for Staying Out of Jail Anymore
Posted by: John K. Higgins 2009-10-18 20:41:56
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Most business executives only spend money when they foresee a reasonable return on the investment, unless there is some other compelling reason for the expense -- like keeping them out of jail. To a large extent, the development of governance, risk management and compliance technologies was spurred not by the promise of financial return, but by the provisions for stiff fines and prison terms in the Sarbanes Oxley Act. "No more easy money for corporate criminals, just hard time," said President George Bush, who signed SOX into law in 2002.
If this is the trend of the industry compatibility with larger ERP systems will become more essential. Article made excellent points that are very true, int his case this software is necessary in these highly regulated industries. Many businesses that operate in this space can't afford any mistakes.
