Challenges of In-House GRC Technology Development

This whitepaper discusses the complexities and challenges associated with developing Governance, Risk Management, and Compliance (GRC) technology in-house. It outlines key considerations that organizations must evaluate when deciding between building a custom solution or purchasing commercially available software. The document highlights aspects such as design complexity, comprehensive functionality, certainty of compliance, maintenance and development, and ongoing support. It emphasizes that in-house development often leads to higher costs and challenges due to the need for sophisticated enterprise capabilities and integration of various business requirements. Additionally, the paper presents the importance of defining the needs of each role within the organization and planning for compliance-related risks. It also addresses the necessity of leveraging existing GRC best practices and the potential pitfalls of failing to design an integrated solution. Ultimately, the whitepaper argues for the advantages of using established GRC platforms over custom-built solutions.