Integrated Audit, Risk, and Compliance Platform Recognized by Customers for Innovation and Usability
Los Angeles, CA, April 7, 2021 — AuditBoard, the innovative cloud-based platform transforming how enterprises manage critical audit, risk, and compliance programs, today announced it once again has been rated as the Market Leader in both the GRC Platform and Audit Management Spring 2021 Grid Reports from G2.com, Inc. In addition to taking the top ranking in GRC after five consecutive quarters as a leader in that category, AuditBoard has now held the Leader position in the Audit Management solutions category for six straight quarters.
AuditBoard’s top ranking in the GRC Grid Report comes as the company has substantially expanded the scope and power of its platform over the last twelve months, releasing over forty major enhancements designed to streamline a wide range of audit, risk, and compliance processes for enterprises. The purposeful design of the platform, where an unparalleled user experience makes it easy for teams to execute enterprise-wide audit, risk, and compliance programs, has led to its recognition as a market leader in GRC Usability for the sixth straight quarter.
“One of the greatest honors a software provider can receive is public validation from its customers, sharing how its solutions are making a difference,” said John Reese, AuditBoard’s Chief Marketing Officer. “We’re thrilled to be recognized as the market leader in GRC and Audit Management, a recognition that reflects the cross-functional value AuditBoard customers are seeing as they utilize our integrated audit, risk, and compliance platform.”
The dual recognition of AuditBoard as the G2 market leader in both GRC and Audit Management software comes as GRC market spending continues to increase rapidly. Gartner ranked Integrated Risk Management (IRM) #1 on their list of the top 20 Emerging Technologies & Trends (ETT) client topics for 2020, as companies grappled with the COVID-19 pandemic and related issues. Gartner also projects that companies will spend $8 billion on Integrated Risk Management in 2021, with the sector on track to see 9% CAGR through 2023.
Supporting these forecasts of market growth is the just-released digital transformation market study performed by the Internal Audit Foundation and AuditBoard, which found that 22% of internal audit teams plan to implement cloud-based audit management or GRC software in 2021.
“The pandemic and related challenges of the past year have accelerated digital transformation for risk, compliance, and assurance teams everywhere,” continued Reese. “Our research with the IAF revealed that teams already using cloud Audit Management or GRC solutions have relied more heavily on those applications to work collaboratively and manage risk in the remote environment, while teams still using more primitive solutions are accelerating their move to the cloud.”
To receive a complimentary copy of the full G2 Grid Report for GRC, visit AuditBoard.com.