By Sue Marquette Poremba
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What Enterprise Should Know About GRC
Ignoring the consequences of non-compliance can be devastating for an organization, especially in highly regulated industries like life sciences, health care and financial services, according to Ajay Khanna, data management and compliance expert, and VP of Marketing at Reltio.
"The cost is not only hundreds of millions of dollars in penalties, but also a tarnished corporate image,” Khanna said. “Today, consumers pay attention to an organization’s values and ethics. Any blemish in compliance records can have an impact on bottom line. A proper data management strategy, along with technology for necessary risk identification using advanced analytics, is crucial in making sure organizations are compliant with current regulations and can quickly implement any future requirements."