A Brief History of GRC: Told from a Xennial Perspective

When GRC platforms started becoming a “thing” in the mid-2000s, there were only a few major players in the market. They focused primarily on IT: whether it be controls, policies or risk management. Additionally, with the Enron and Worldcom scandals, SOX and its myriad of financial reporting controls quickly became platform offerings as well. As the market started expanding quickly at the turn of the decade, the concept of “eGRC”, with the “e” standing for enterprise, swept the landscape. Why settle for managing IT processes when many of the tools were capable of managing an entire organizations’ Governance, Risk and Compliance frameworks? The natural progression had begun.