Avoid The Headlines, Focus On Corporate Culture

Guest post from Researcher Nick Hayes.

Chris and I recently published a report describing how to build risk and compliance principles into your company’s corporate culture. As we worked to finalize, edit, and publish the report, a flurry of new corporate scandals emerged, all related to this topic.

Here are just a few of them:

  • Wal-Mart executives accused of trying to hush up bribery cases in Mexico (article here).
  • A whistleblower accuses Infosys of engaging in a systematic practice of visa fraud (article here).
  • A former Goldman Sachs employee writes an op-ed for the New York Times blasting the company’s ethics (article here).
  • JP Morgan suffers a $2 billion trading loss due to “poorly monitored” trades (article here).
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NASDAQ OMX Acquires BWise… Where Is GRC Headed?

Last week saw news that yet another top GRC software vendor has been acquired, following in the footsteps of Paisley, Archer, OpenPages, among others. BWise has always been an impressive vendor in the GRC space, so first off I think congratulations are in order for both parties.

That said, if you didn’t foresee NASDAQ getting into the GRC software space coming, don’t beat yourself up… after seeing the large technology vendors and content providers enter the space over the past 3 years, this wasn’t an obvious move. But looking a little deeper, NASDAQ’s move makes sense for a couple reasons:

-          NASDAQ’s target market cares about GRC. NASDAQ lists its target roles as marketing/corporate communications, board and corporate secretary, investor relations, and corporate finance. All of these roles have a vested interest in better controls, stronger risk management practices, and improved corporate governance.

-          BWise has always focused on the “G” of GRC. More than any other of the top GRC software vendors, BWise targeted governance professionals with capabilities such as entity management.

-          There are immediate integration possibilities. Among NASDAQ’s corporate solutions are products for board management, whistleblower reporting, and XBRL filing. BWise has a host of capabilities (issue management, process management, policy management, reporting, etc.) that could quickly add value to implementations of those products.

But, as always with a deal like this, both parties will have to show the market how they will address some key questions:

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