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eGRC Market worth $34.5 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 13, 2024 /PRNewswire/ — Deeper AI and machine learning integration for predictive analytics, the simplification of compliance activities, and improved cybersecurity risk management are where eGRC’s future lies. The market will remain dominated by cloud-based solutions because they provide scalable and intuitive user interfaces for thorough risk assessment and management in a variety of regulatory environments.

The eGRC Market size is projected to grow from USD 18.3 billion in 2024 to USD 34.5 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “eGRC Market”645 – Tables 61 – Figures412 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years 
2018-2029
Base year considered 
2023
Forecast period 
2024–2029
Forecast units 
Value (USD Million/USD Billion) 
Segments Covered 
Offering, Deployment Mode, Organization Size, Solution Usage, Business Function, Vertical, and Region
Geographies covered 
North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Companies covered 
Major vendors in the eGRC market include IBM (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), FIS (US), Wolters Kluwer (Netherlands), LexisNexis (US), Mphasis (India), MetricStream (US), Riskonnect (US), Navex Global (US), OneTrust (US), Mega International (France), LogicManager (US), Acuity Risk Management (UK), C&F SA (Poland), Allgress (US),  GlobalSuite Solutions (Spain), Onspring (US), Optimiso (US), Oxial (Switzerland), ReadiNow (Australia), SureCloud (UK), StandardFusion (Canada), Comensure (US), Dynamic GRC (Singapore), LogicGate (US), VComply (US), and SmartSuite (US).
The key driver for adopting eGRC solutions is an increase in stringent regulations, such as the EU AI Act, that aims to establish a comprehensive regulatory framework for AI and impact how organizations manage GRC with AI technology integrations. Organizations need to assess their AI models, understand the implications of the EU AI Act, and prepare for the changes it will bring to create a more secure and trustworthy AI environment. By aligning with the regulations of the EU AI Act, businesses can navigate the regulatory landscape effectively and leverage AI technology while safeguarding against risks and ensuring compliance with the updated rules.
Based on the offering, the solutions segment accounts for the highest market size during the forecast period.
The adoption of eGRC solutions has surged as organizations must manage complex regulatory requirements and mitigate diverse risks. These solutions provide a centralized platform to streamline governance processes, automate compliance tasks, and enhance risk visibility across the enterprise. Effective eGRC solution encompasses thorough data integration, advanced analytics, real-time monitoring, and strategic utilization of emerging technologies. These features provide organizations with the necessary resources for managing the intricate landscape of eGRC. Some companies offer dedicated eGRC solutions, such as compliance, risk, and audit management. These solutions are developed to cater to the specific needs of the BFSI, healthcare, IT & ITeS, government, and other verticals. Companies offering eGRC solutions include IBM LogicManager, MetricStream, Software AG, Wolters Kluwer, Diligent, IdeaGen, and SAI Global.
By deployment mode, the cloud segment will grow at the highest CAGR during the forecasted period.
Small and Medium-sized enterprises (SMEs) are increasingly adopting eGRC solutions deployed in the cloud due to several advantages. Cloud deployment offers scalability, flexibility, and cost-effectiveness, making it accessible to businesses without hefty upfront investments. These solutions streamline governance processes, enhance risk visibility, and simplify compliance management. With intuitive interfaces and subscription-based pricing models, eGRC cloud solutions empower SMEs to navigate regulatory landscapes while optimizing resource utilization efficiently.
By region, Europe is to grow at the highest CAGR during the forecast period.
Europe is expected to register high growth rates in the eGRC market. Emerging European markets, such as the UK, Germany, France, Italy, and Ireland, are expected to offer significant growth opportunities for the eGRC market. Increasing regulations and compliances, political uncertainty, unpredictable business environment, rise in network crimes, and advanced cyber and bot attacks have favored the growth of the eGRC market in the region, as it is helping the organizations effectively work on GRC programs.
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Top Companies in eGRC Market
IBM (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), FIS (US), Wolters Kluwer (Netherlands), LexisNexis (US), Mphasis (India), MetricStream (US), Riskonnect (US), Navex Global (US), OneTrust (US), Mega International (France), LogicManager (US), Acuity Risk Management (UK), C&F SA (Poland), Allgress (US),  GlobalSuite Solutions (Spain), Onspring (US), Optimiso (US), Oxial (Switzerland), ReadiNow (Australia), SureCloud (UK), StandardFusion (Canada), Comensure (US), Dynamic GRC (Singapore), LogicGate (US), VComply (US), and SmartSuite (US) are the key players and other players in the eGRC market.
Recent Development
In January 2024, Microsoft and Cognite extended their partnership to build an industrial data operations platform on Microsoft Fabric and Azure OpenAI Service. Integrated with Microsoft Purview, Fabric offers unified data governance tools, simplifying data management, monitoring, and security across diverse applications and platforms.In September 2023, the SAS Institute will deepen its collaboration with Microsoft to assist banks in effectively handling liquidity and interest rate risks. Their Asset and Liability Management (ALM) platform, fueled by Kamakura Risk Manager on Microsoft Azure, enables comprehensive risk management, capital allocation, and balance sheet optimization through multi-period, scenario-based simulation and valuation.In June 2022, Oracle updated its Governance, Risk, and Compliance Controls (GRCC). It provides a platform where two components run: Application Access Controls Governor (AACG). These components regulate access to duties assigned in business-management applications, such as Oracle E-Business Suite and PeopleSoft, and Enterprise Transaction Controls Governor (ETCG), which identifies business-application transactions posing an unacceptable risk.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1310
eGRC Market Advantages
By automating compliance processes, eGRC systems minimize errors and manual labor. This saves time and money by streamlining regulatory compliance procedures and guaranteeing conformity to norms and laws.Businesses can detect, evaluate, and manage risks in a comprehensive manner by using eGRC platforms, which offer a centralized view of hazards across the enterprise. This all-encompassing strategy strengthens decision-making and increases resistance to new challenges.eGRC solutions increase productivity and efficiency by combining separate governance, risk, and compliance processes into a single platform. Workflows can be streamlined, stakeholder participation can be facilitated, and tasks can be prioritized according to how they will affect corporate goals.eGRC solutions provide insights into risk exposure and compliance status through real-time monitoring and reporting capabilities. Proactive risk management, prompt decision-making, and successful stakeholder communication are made possible by this.By automating tedious operations, allocating resources optimally, and lowering the possibility of non-compliance fines, eGRC solutions assist in lowering compliance expenses. Organizations can save money over time by improving operational effectiveness and reducing risks.Scalability and adaptability are features that cloud-based eGRC platforms provide, enabling enterprises to adjust to shifting business needs and regulatory landscapes. Cloud deployments improve agility and resilience by facilitating quick implementation, smooth upgrades, and remote access to eGRC functions.Report Objectives
To describe and forecast the eGRC market by offering, deployment mode, organization size, solution usage, business function, vertical, and region from 2024 to 2029, and analyze the various macroeconomic and microeconomic factors that affect market growthTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall marketTo provide detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the major playersTo profile the key market players; provide a comparative analysis based on the business overviews, regional presence, product offerings, business strategies, and critical financials; and illustrate the market’s competitive landscape.To track and analyze the competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and research development (R&D) activities, in the marketBrowse Adjacent Markets: Information Security Market Research Reports & Consulting 
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Perimeter Security Market – Global Forecast to 2029
Self-Sovereign Identity (SSI) Market – Global Forecast to 2029
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Reliance Cyber and Google Cloud Security unite to transform cybersecurity for UK businesses

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LONDON, May 28, 2024 /PRNewswire/ — Leading Managed Security Service Provider (MSSP), Reliance Cyber has been selected as one of only four MSSPs to partner with Google Cloud Security (GCS). This collaboration is set to make cybersecurity more effective and less complicated for businesses throughout the UK and Ireland.

Why this matters:In today’s complex security environment, businesses face a multitude of challenges, including escalating cyberattacks, an overwhelming number of security alerts, rising cybersecurity costs, and a critical shortage of skilled professionals. The partnership between Reliance Cyber and Google Cloud Security provides organisations with improved security postures through insightful, data-driven analytics, which underpin Reliance Cyber’s XDR service. For businesses facing diverse economic, social, and technological changes—such as the ongoing impacts of COVID-19, the transition to hybrid and remote work, rapid technological advancements like AI, and budget pressures from the cost of living crisis—this partnership represents a significant step forward. It enhances cybersecurity without the usual challenges of high costs, complexity, or the need for specialised staff. It’s about making world-class security simple and available to a wider audience.
What’s changing:
Support for growth: The partnership will expand the reach of state-of-the-art security services to more businesses, helping to protect organisations without the stress of financial and operational barriersEnhanced visibility, lower costs: Leveraging Google’s SOAR capabilities and Chronicle’s powerful telemetry, Reliance Cyber’s tailored ingestion approach means organisations can achieve enhanced visibility across their digital environments at a reduced cost. This approach enables proactive prevention and detection of threats, ensuring better security with less expenditure.Key benefits of the strategic partnership include:
AI and automation: Automation is at the core of Reliance Cyber’s offering. Every alert is enriched with threat intel from leading vendors, automatically correlated, and grouped into cases, reducing mean time to detect (MTTD) and mean time to respond (MTTR). Google’s additions enhance this with lower data ingestion costs, superior threat intelligence, curated detections, and advanced anomaly detection using machine learningSimplified security operations to support staff: Integration of Google Cloud’s SOAR capabilities simplifies the security management landscape, allowing CISOs to focus on strategic planning rather than daily operational hurdlesScalable security for business growth: The partnership supports business expansion strategies by providing scalable security solutions that grow with the company, crucial for organisations driving technological advancementData-driven insights for better decision-making: Boards will gain unparalleled visibility into their digital environments, fostering smarter, faster decision-making to preemptively address potential security threats.Rob Walton, Chief Revenue Officer at Reliance Cyber, on the transformative impact: “We’re thrilled to partner with Google Cloud Security. This partnership aligns perfectly with our mission to deliver comprehensive, advanced security services to the market, making top-level security accessible and manageable for businesses of all sizes. Ultimately, it’s about creating predictability and peace of mind in an area that can often cause businesses and their boards sleepless nights, particularly due to concerns about attacks and the financial constraints that dictate risk appetites.”
Do you want more coverage, at less cost, with zero compromises? 
Enquire about a proof of concept. Visit: https://eu1.hubs.ly/H09bKtG0.
About Reliance Cyber
Since our founding in 2003, Reliance Cyber has established itself as a leading Managed Security Service Provider (MSSP). By combining deep cybersecurity expertise with a true partnership ethos, we enable organisations to concentrate on their core business.
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Eficode acquires Jodocus and reinforces Atlassian Cloud skills and Atlassian partnership in Germany

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HELSINKI, May 28, 2024 /PRNewswire/ — Eficode has acquired Jodocus, the first cloud-native Atlassian Platinum partner in Germany. This acquisition further reinforces Eficode’s role as an Atlassian partner in Germany and expands its skills and services in Atlassian Cloud.

“Atlassian is moving to the Cloud, and the related know-how is essential to speed up this transition. Jodocus was originally the first Atlassian partner in Germany to focus fully on the Cloud. Their broad expertise in Atlassian tools and cloud migrations helps our customers in their journey to the cloud and complements our mission to build the future of software development,” says Ilari Nurmi, CEO of Eficode. “We welcome Jodocus’ employees and customers to Eficode.”
Founded in 2019, Jodocus is an Atlassian Platinum Solution Partner with extensive expertise in Atlassian Cloud. In addition to focusing on the Cloud, the Jodocus team offers support on business processes, Application Lifecycle Management, and DevOps. Their customer base is in Germany, with well-known names such as Otto Group and Fricke. Jodocus has 45 employees, and its revenue in 2023 was 11,5 million euros. “Together, Eficode and Jodocus will form a more significant entity and have even more international customers, which opens possibilities for deepening and broadening our relationship with our customers,” says Werner Krandick, CEO of Jodocus.
Eficode has enabled countless businesses with DevOps and digital transformation to adopt new technologies and practices to create software better. Its full spectrum of digital services can now be extended also to Jodocus’ customers. Eficode ROOT provides software development tools as a managed service in a Software-as-a-Service manner. In turn, with Total Support, we manage the tools and offer support, coaching, and mentoring for Atlassian solutions as a subscription.
In recent years, Eficode has grown strongly both organically and through acquisitions. Eficode’s compound annual growth (CAGR) during the previous four fiscal years has been 70%.
Media contactsIlari Nurmi, Chief Executive Officer, Eficode. [email protected], +358 40 577 5084 Lauri Palokangas, Chief Marketing Officer, Eficode. [email protected], +358 50 486 4918 
This information was brought to you by Cision http://news.cision.com
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New first of its kind UK legal-tech recruitment platform aims to put an end to overseas worker scams

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Unique UK-based legal technology platform, Immpact, helps unite the global talent market to fulfil UK skills shortages across healthcare, construction, engineering, life sciences and hospitality Immpact directly connects employers, recruiters and regulated legal experts with pre-qualified global talent – and aims to help eradicate profiteering job scammersREADING, England, May 28, 2024 /PRNewswire/ — A unique new legal-tech recruitment platform has launched in the UK to help put an end to overseas worker scams and directly connect UK employers and recruiters with pre-qualified overseas global talent. Immpact will help fulfil acute skills shortages across sectors including healthcare, construction, engineering, life sciences and hospitality, while ensuring full legal Home Office compliance.

The launch of Immpact follows over two years of advanced legal-tech development. Using the immigration law expertise of Founder and Managing Director, Jonathan Beech, and his team of specialists, the platform will help unite a previously disconnected global talent market with under-resourced UK employers and transform global workplace migration. Immpact has also been developed through discussions with hundreds of employers, industry bodies and overseas talent.
With job scams – from fake jobs to illegal fees for sponsor licences – ongoing, particularly in the social and healthcare sector, Immpact will ensure only pre-qualified talent, employers and recruitment firms are placed on its platform following stringent multi-layer checks. This will ensure that all jobs and talent are qualified and genuine along with thoroughly regulated employers and recruiters, to provide a global marketplace for talent.
Jonathan Beech, Founder and Managing Director of Immpact, said: “Through my existing business running Migrate UK, I’m acutely aware of the issues that UK employers and recruiters are having in trying to fulfil talent shortages across sectors such as care, healthcare and life sciences. I also regularly hear terrible stories of genuine overseas job hunters being ripped off in their home countries or the UK by job scammers, often running to thousands of pounds.
“I knew there had to be a better way to match pre-qualified overseas talent with genuine work opportunities and responsible UK employers – effectively a ‘talent’ match-making site which is designed to eradicate scammers to provide a global, trusted marketplace for talent.”
Following the latest government immigration rule changes, overseas recruitment costs are continuing to rise for businesses struggling with talent shortages. From 4 April 2024, the minimum salary for entering the new skilled visa worker route for the first time increased by 48%, from £26,200 to £38,700 a year. There are different rates for those already holding a skilled worker certificate of sponsorship prior to this date and discounts are available for key shortage roles on the Immigration Salary List (ISL).
Immpact will benefit employers and recruiters by saving them time and money. Working with recruitment experts to analyse existing overseas recruitment workflows, Immpact has calculated that it will save 50% of the time involved in managing overseas recruitment, helping to cut down the time-consuming filtering of applications traditionally needed.
For employers traditionally looking to recruit overseas applicants, previous data from industry recruitment software specialists show that 30% of overseas applications are rejected as they do not have the right to work, while 64% are rejected due to CVs being unclear or requirements not being met. This leaves just 6% of applications remaining, which results in about 2% then being interviewed. Immpact will automatically present only suitable pre-qualified applications to employers or recruiters, eradicating wasted time on unsuitable or unqualified applicants.
Beech continues: “Following thousands of hours of development and utilising the latest advanced technology which can adapt to evolving Home Office requirements and procedures, we’re proud to launch Immpact. Our unique new platform takes care of the entire process – from pre-qualifying processes, searching and shortlisting, down to arranging interviews, successful appointments, onboarding, the provision of regular content and guidance, and access to regulated immigration legal professionals.
“Our new technology will transform global migration for both UK organisations and businesses struggling to recruit and global talent looking to work in the UK. Immpact has been thoroughly tested at every stage and is both user-friendly and, crucially, compliant, so qualified overseas applicants and UK employers and recruiters can be confident that only genuine UK jobs and overseas applicants match and proceed. Quite simply, we want Immpact to simplify the whole migration process by putting the right talent in the right place at the right time, and for UK employers to fulfil critical talent shortages which will help them not only survive, but thrive.”
The platform has a free trial or low-cost subscriber options for search-matching and more for employers and recruiters. For talent, the platform has zero costs for creating a profile, using the pre-qualifying tools or searching for opportunities. For further information visit www.immpact.ai.
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