Building a Business Case for ERM Technology
Selling the value of Enterprise Risk Management software
Securing budget for enterprise risk management programs can be difficult – even when boards and the C-suite recognize that ERM technology will provide better oversight and enhance risk management efforts.
A successful business case will go beyond just the cost of the software and the time that will be saved by the risk management team. To secure the full support of leaders, you have to elevate the conversation to focus on the value, performance, and competitive edge that modern ERM software will bring to the entire organization.
E-Book: How to Build a Compelling Business Case for ERM Software
Convincing leadership to invest in new ERM software is often the most challenging part of the purchasing journey.
To secure the full support of leaders, you have to elevate the conversation to focus on the value, performance, and competitive edge that modern ERM software will bring to the entire organization.
Download this e-book for guidance on gathering the necessary facts and articulating the value – and use that to cultivate support for ERM software among decision-making leaders across the organization.
- Step 1: Calculate Your Current Costs
- Step 2: Determine the ROI of New ERM Software
- Step 3: Tell Your Story
Beyond the Numbers
Looking purely at hard-dollar costs of time and technology, ERM software almost always pays for itself – and faster than you might think.
But the real value of ERM software lies in its ability to improve decision-making. You have a clear picture of what’s happening, so you can confidently decide what risks are worth taking – and which are not.
You can visualize the connections between individual risks, as well as how everything relates as a whole. You get huge gains in efficiency and accuracy, while simultaneously reducing costs.
Forrester Consulting Study: The Total Economic Impact™ of Riskonnect GRC
The three-year return on investment of Riskonnect’s integrated GRC technology is as much as 280%, according to a study conducted by Forrester Consulting.
Forrester Consulting completed a Total Economic Impact™ study to help organizations quantify the potential ROI of Riskonnect’s GRC solution.
The study took an in-depth look at one financial services firm in the U.S. that implemented Riskonnect GRC – including Enterprise Risk Management, Internal Audit, Compliance, and Third-Party Risk Management – to project a three-year ROI.
The study offers specific cost-savings data from:
- Step 1: Reducing manual labor
- Step 2: Streamlining Third-Party Risk Management workflows
- Step 3: Avoiding regulatory penalties
Calculate Your ROI
Find out how much you could save with Riskonnect’s Enterprise Risk ROI Calculator.
You’ll get a customized savings estimate based on your own processes, people, and output to use in justifying an ERM investment.