Source: Gartner – IT Research
Headline: Gartner Says Enterprise Risk Management Leaders are Challenged With a Lack of Pricing Transparency in GRC Tools
Due to widely varying government, risk, and compliance (GRC) tool pricing, enterprise risk management (ERM) leaders must understand four different pricing-tier categories of GRC solutions and apply a scoping framework to further estimate likely costs ahead of vendor selection, according to Gartner Inc.
“There are no shortcuts to avoiding demos and time-intensive sales processes,” said Joel Backaler, Director Analyst in the Gartner Audit & Risk Practice. “However, understanding four pricing categories that vendors generally fall into, and applying a scoping framework accordingly, can save time and narrow the focus of an RFP to vendors that are likely to fit within budget constraints.”
Gartner experts advise ERM leaders should address several key questions to understand what tier of GRC solution will meet their needs (see Figure 1).