Integrated Risk Management (IRM) is here, and the folks here at Mitratech could not be happier.
Recently Gartner concluded GRC had grown and evolved to become associated with many compliance driven initiatives designed to improve corporate governance and internal control. Recognizing the need for a rethink on the subject, IRM was born. As Gartner puts it, “IRM enables simplification, automation and integration of strategic, operational and IT risk management processes and data.”
Essentially, IRM ensures that risk is integrated and operationalized across all functions, and unlike GRC, Enterprise Legal Management (ELM) is specifically included.
As I sit here and write this, I do so with a sense of pride and satisfaction. I am proud that Gartner just released their first Magic Quadrant for IRM, and they have named Mitratech a visionary in this space. I am satisfied because being named a visionary in IRM is something that validates the work we are doing, and the direction we are heading.
In our effort to support our clients, we continuously analyze market trends, customer best practices, and technology to ensure we don’t just deliver against our clients’ needs, but help create a vision of continuous improvement.
This approach was recognized by Gartner when recognizing Mitratech as a visionary in IRM, stating:
“Visionaries set the pace for innovation and approach to some IRM critical capabilities. They have a high awareness of and can articulate important market trends and directions in method of delivery and approaches to integrated risk business concerns.”
25 years of experience in both ELM and GRC have given us a wide and varied breadth of experience to create a unique vison for IRM; a vision that understands the needs of the market and brings ELM and GRC together in an evolving market where legal, governance, risk, and compliance are becoming increasingly interconnected. In fact we discussed this very topic at last year’s compliance week.
The Future of IRM
However, when I think about what truly separates us from other vendors, and what truly makes us innovators in the IRM marketplace, it’s our ability to help organizations at all stages of their IRM maturity. We recognize one size doesn’t fit all, and our vision is provide IRM solutions that meet the very particular needs of each organization – in a way that makes sense for them, not the vendor.
Standpoint solutions. Integrated solutions. Platform solutions. All from one flexible vendor. And that part that makes this IRM, and not GRC, is the Enterprise Legal Management element. The piece that most GRC vendors fall down on. As Mitratech further develop its IRM vision, you will see truly integrated GRC and ELM on a proven technology platform.
Highest Rating for Customer References
As a Mitratech client, you’re in great hands. Not only were we recognized as visionaries, but we also received the highest rating from customer references in the category of Market Responsiveness and Track Record among all other vendors evaluated and included in this Magic Quadrant. That’s how we know we will continue to innovate and drive the IRM market forward: Because our customers are our partners, and together we make a winning team.
Download your free copy of the 2018 Gartner Magic Quadrant for IRM right now to judge for yourself!