How to stay in control in a rapidly changing world?

Insights into the use of Governance, Risk and Compliance (GRC) technology solutions in the Belgian market

How are Belgian organisations performing when it comes to GRC technology?

PwC Belgium conducted a survey to gain insight into Belgian organisations' maturity on the use of GRC technology. The results of this survey show the evolution in the Belgian market since the previous survey, which was conducted by PwC Belgium in 2013. At the same time it benchmarks Belgian organisations with the global trends.

96 organisations located in Belgium of various sizes across more than ten industries were surveyed on GRC tool implementation. We looked at if, when and why they used GRC technology and the advantages it offers.

Managing governance, risk, compliance and security continues to be a challenge for most organisations

What will the future bring?

S/4 HANA

Ensure your processes and technology remain up-to-date to respond to the risks arising from these new technologies. 

 
 

GDPR

GRC tools can assist to demonstrate to the regulator that your company has implemented the necessary controls. 

Cyber

A GRC tool can help automate the efforts to protect your systems, from both internal and external threats.

Intelligent automation

Automation technologies allow companies to automate their risk and compliance activities so GRC users can focus their efforts on interpreting results. 

Data visualisation

Visualisation techniques such as dashboard can help to present data in a digestible way for the end user.

A call-to-action for Belgian organisations

Regulations and security threats are constantly evolving. Managing governance, risk, compliance and security continues to be a challenge for most organisations. With increasing compliance requirements, organisations are seeking to reduce cost and increase value derived from investment in control processes, people and technology.

GRC tools offer non-negligible advantages in the form of reduced costs, increased efficiencies through automation and minimised errors resulting in greater compliance. The results of our study show that Belgian companies have made efforts to implement dedicated GRC tools but are still behind compared to their global peers and competitors.

We see an increase in terms of number of companies using GRC tools and in terms of functionality. However, as these technologies evolve, your organisation must ensure your tools continue to adequately manage risk, including detecting and protecting against cyber threats.

A dedicated GRC solution should be an essential component of any company’s risk and control structure. Those companies relying on outdated or manual tools leave themselves at a distinct disadvantage in the face of their competitors.

Contact us

Wim Rymen

Wim Rymen

Partner, PwC Belgium

Tel: +32 47 326 9227

Connect with PwC Belgium