Leading organizations across all sectors have been using Diligent’s governance, risk and compliance (GRC) solutions for decades, counting on our continued innovation to help them meet evolving demands.

This summer’s launch of the Diligent One platform represents the next generation in GRC technology, and Forrester recently affirmed the capabilities of our market-leading platform by naming Diligent a Leader in the 

Forrester Wave™: Governance, Risk, and Compliance Software, Q4 2023

, concluding, “Diligent sets the standard for modern governance with its feature-rich platform.”

Forrester Wave report guides buyers through an expanding GRC software market

As governance and compliance challenges climb up the list of priorities in most organizations, more vendors are entering the GRC software market. Each year, the highly anticipated Forrester Wave report gives organizations an independent, expert analysis of how the most significant vendors stack up—in terms of current functionality and, critically, future-ready infrastructure and forward-looking product roadmaps.

Diligent One receives top Forrester scores in 14 categories

Forrester gave the Diligent One platform the top score in more than a dozen areas, including:

User experience: Forrester gave Diligent top marks for its intuitive user interface that unifies the comprehensive GRC solution.

Risk management: Diligent earned perfect scores for next-generation features that help users identify, monitor and communicate risk—including unique risk intelligence, risk reporting and risk dashboards.

Audit & regulatory management: Forrester awarded top scores for Diligent’s audit management, regulatory management and control monitoring capabilities, as well as content delivery.

Integrations: Diligent earned perfect scores for its holistic data inputs and broad partner ecosystem for simple, powerful integrations.

Market presence: Diligent also received top scores across the entire “market presence” category for maintaining superior platform revenue and serving more customers compared to competitors.

Forrester recognizes Diligent’s vision and “AI-powered” product roadmap

In addition to recognizing that Diligent One brings next-generation GRC capabilities to organizations today, Forrester also noted how Diligent One gives organizations a future-ready GRC platform for tomorrow —and a forward-looking vendor to support it.

Awarding top scores for product vision, the report highlights Diligent as the only vendor to incorporate boards of directors into the GRC ecosystem. Looking ahead, the Forrester Wave report also calls out that the Diligent roadmap 

“packs an AI-powered punch, including platform-centric generative AI, risk quantification, AI-accelerated audit, predictive risk intelligence, and AI-supported regulatory management.” 

Forrester affirms what Diligent customers know: Diligent One centralizes GRC reporting. Speaking to Diligent One’s comprehensive range of capabilities, the Forrester report concludes:

 “Diligent is a good fit for customers looking to consolidate GRC use cases in a single platform or align their GRC initiatives with the board.”

This insight affirms the real-world experience of the many organizations already leveraging the Diligent One platform to enhance GRC initiatives—including Bronwyn Jesse, Risk and Controls Manager at the City of Lethbridge. 

“In looking for a GRC software vendor, we wanted to find a solution that would help us break down silos and leverage automation to oversee our risk and controls effectively and efficiently,” explains Jesse. “Using Diligent, we have been able to increase transparency by managing all of our risks and their impacts in one place.”

Vini Parmar, Compliance Risk Manager at Kohler Co., voices similar benefits: 

“[Diligent’s] automation helped us bring our resource expectations down, and got us the information we needed at our fingertips to make better decisions to mitigate risk right away,” 

Download the Forrester Wave report for invaluable buying insights

Nearly every organization is underpressure to enhance their GRC reporting capabilities while bringing costs down. But the challenge of evaluating vendors and selecting a solution that fits your needs today—and gives you an agile platform for tomorrow—is one of the biggest impediments to making this necessary change.

 is one of the industry’s most complete and detailed analyses, using a transparent methodology composed of vendor surveys, product demos and customer reference calls to compare top players in the market.

You can read through a full, complimentary version of the report 

https://www.diligent.com/resources/research/diligent-sets-the-standard-for-modern-grc 

Forrester Wave: Diligent sets the standard for modern governance 

An action-packed 2024 looms for governance, risk and compliance professionals — full of more data, more regulations, more geopolitical uncertainty and of course, more artificial intelligence (AI).

GRC analysts and thought leaders Renee Murphy and Michael Rasmussen have much to say about the changes currently unfolding, and how GRC professionals can prepare for the year ahead.

In a recent webinar, the pair explored strategies for fortifying an organization's enterprise risk management (ERM) systems, as well as tips for leveraging technology to boost efficiency.

Below are some highlights from their discussion.

Should GRC professionals view artificial intelligence (AI) as uncharted territory?

Murphy says no. “There should be no reason you think of this as the Wild West, in my mind. There are tons of regulations out there.”

Rasmussen disagreed, invoking the classic Western “The Good, the Bad and the Ugly.” The good is AI that is leveraged properly, governed effectively and used in a way that lets overextended subject matter experts get more done.

The bad is when there’s governance in place, but the organization “gets lazy,” in Rasmussen’s words — for example, relying on the tool to make decisions for the organization, not simply =collecting and analyzing data.

As for the ugly? “It’s not governed properly in the organization, and anything goes.” An example: leveraging models and data for purposes they were never designed for, or for which there is no assurance. Rasmussen called this “a critical exposure.”

How can compliance and risk teams use AI in 2024?

Rasmussen said he sees several potential use cases for AI, starting with regulatory change management.

“If you print off the United Kingdom’s FCA rule book, it’s a stack of paper six feet tall,” he said. “If you print off the US Code of Federal Regulations and stack it end to end, it’s longer than a marathon. It’s like 28 miles.” And a machine will be able to plow through both infinitely faster than a human.

There’s accuracy to consider as well, since machines’ minds don’t wander when slogging through a dense document. Rasmussen cited a life sciences firm that saw a 30% increase in accuracy when it brought natural language processing into its regulatory change management.

Rasmussen is also starting to see organizations use generative AI tools to fill out voluminous vendor questionnaires and SOC 2 reports. But a person must review those machine-generated answers.

And, Murphy added, you have to teach the model yourself. You can’t rely on a model of “taught by the internet with who knows what data in it,” she said. Adding to the risk: “If I really don’t know the beginnings of my data source, I have no audit trail.”

Modeling is a classic application of AI, and repurposing risk models offers great potential as new regulations grounded in existing frameworks roll out. Organizations shouldn’t just “take a model built for one purpose and all of a sudden leverage it for something else without proper validation,” Rasmussen cautioned. But “there’s no point in reinventing the wheel,” said Murphy.

Rising cyber accountability brings great responsibility

In terms of cybersecurity, Rasmussen noted “a great focus on accountability” from regulators in the UK, Ireland, Hong Kong, Australia, South Africa and Singapore. And top tech executives are being held personally accountable, from the SEC’s investigation of SolarWind’s CISO for fraudulent security statements to TSB Bank’s CIO, who, after a third-party risk failure in the bank’s IT department, was fined 80,000 pounds “that he had to pay out of his own bank account.”

“I've worked with enough CISOs in my former position at Forrester to know that you are not always the one in charge,” said Murphy. “If I have that level of accountability as a CISO, then I want that level of responsibility, too. And if there's a disconnect there, that’s not fair to the CISO.”

So, what should CIOs and CISOs do in this unfair world?

“You're going to get breached. And it’s not the breach itself, but 

,” Murphy said. “And that’s why we tell you that GRC IT matters.”

Rasmussen illustrated the need for robust tracking and audit trails. In a world where people can easily manufacture evidence of security controls and assessments, documents, spreadsheets and emails, “the regulators, opposing counsel, and external auditors are wising up.” he said.

“What was assessed on what date and time? Who assessed it? If somebody came back two weeks later and changed something, who changed it? When did they change it? What time did they change it? You need technology that gives you a good system of record.”

Murphy described a common pain point for GRC and ERM teams in today’s data-deluged world: “‘I have good processes. I have regular meetings. What I don't have is velocity.’ And you can’t get there without software.”

Rasmussen illustrated the potential benefits — and urgency. For the GRC team of a midsize bank, he said, “80% of their staff’s time was actually spent managing document spreadsheets and emails, and not managing risk.” Another organization takes 200 hours to build its annual risk report across spreadsheets, emails and siloed databases. By the time they present it to the board, the data is 11 months old.

“That's not managing risk; that’s reacting to risk,” he said. “

 to make them more efficient. That’s time saved, money saved, and more efficiency — and that itself is a risk reduction.”

And efficiency is just the beginning of the journey. The future of compliance is a multifaceted one, with continuous monitoring, performance management, data mining and beyond, according to Murphy.

“You are going to continue to mature your GRC programs because you have to,” she declared. “There’s no way around it. It’s getting more complicated. You’re expected to do more, and you’re supposed to have more evidence to prove that you’re continually improving these processes.”

Can your GRC team see everything on the horizon?

The talk concluded with a wide-ranging overview of today’s risk landscape: changing economic trends, costly ethical missteps, capitalism in China, geopolitical shifts and “gray swan” events we should have seen all along.

Rasmussen quoted physicist Fritjof Capra: “The more we study the major problems of our time, the more we come to realize that they’re interconnected and interdependent.”

And you can’t navigate such a global landscape with “nine different GRC platforms, and different functions and themes across 12 different groups and silos of risk that don’t talk to each other,” he declared. “You need to have visibility.”

Ready to turn chaos into control in 2024? Download our 

 checklist to start getting your risk management processes in order.

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