Recession has silver lining for GRC concept

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Belt-tightening at financial firms has created an indirect benefit for firms espousing a governance, risk and compliance (GRC) approach to operational risk management.

The downturn has nudged firms towards integrating their disparate software packages in the name of efficiency, increasingly uniting disparate budgets in areas such as operational risk, internal audit and regulatory compliance.

"Chief financial officers are now saying they want one tool or no tool," says Luc Brandts, founder and

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