Keys to Success

A recent article at highlights the keys to a successful implementation of technology in support of an Enterprise Risk Management or Governance, Risk & Compliance (“GRC”) program.  While the keys to success are fairly straightforward, it is surprising how many companies fail to address them prior to selecting a technology solution.   The keys to success are:

  1. Define what ERM or GRC means to your organization.
  2. Survey your organization’s regulatory and compliance landscape.
  3. Determine the most logical entry point and develop a phased approach.
  4. Establish a clear business case, considering both short-term and long-term value.
  5. Determine how success will be measured. 

Interestingly, the author of the article is a representative of one of the major GRC technology vendors.  While some vendors may want companies to rush to a purchase decision, this author agrees it is critical for companies to gain this perspective prior to evaluating solutions.  He states,

“With these steps complete, you will be in a much stronger position to qualify vendors and solutions and to determine the best fit for your organization, based on a well-defined project scope and equally well-defined business requirements and associated benefits.”

Wheelhouse Advisors can provide an independent viewpoint and work with your company to achieve the keys to success.  Visit to learn more.


About Wheelhouse Advisors
Wheelhouse Advisors LLC is the publisher of The ERM Current™, an online publication and blog dedicated to providing the latest updates on current trends in Enterprise Risk Management & Control. Wheelhouse Advisors provides cost-effective Enterprise Risk Management & Control solutions to both large and mid-size corporations. To learn more about Wheelhouse Advisors, please visit our web site at

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