IBM’s prowess in the Financial Governance, Risk and Compliance (GRC) sector has been recognized by IDC, a leading global market intelligence firm. In its 2024 SaaS Path Survey, IBM emerged as a standout performer, securing the highest customer satisfaction scores in the Financial GRC application market.

The survey, which collected ratings from approximately 2,900 organizations worldwide, asked customers to rate their vendor on over 30 different customer satisfaction metrics. IBM’s high customer satisfaction scores, compared to the overall average in each category, demonstrate its success in delivering a product that not only meets but also anticipates customer needs. This focus on customer satisfaction, combined with IBM’s continuous innovation, makes it a standout choice for businesses seeking robust, reliable and customer-centric Financial GRC solutions.

Financial GRC Market: Spending priorities, value realization and additional needs

The Financial Governance, Risk and Compliance (GRC) market is experiencing significant growth, with businesses increasingly recognizing the value of these solutions. According to IDC’s 2024 SaaS Path Survey, 58.2% of companies plan to increase their financial GRC application spending over the next 12 months, highlighting the growing importance of these tools.  

The survey also reveals that financial GRC software delivers substantial user value. 56.1% of companies report that the value delivered meets their expectations, while 18.2% find that it exceeds their expectations. This suggests that businesses are not only investing in these solutions but also seeing a positive return on their investment. However, there is still room for improvement.

25.4% of financial GRC customers feel that the value realized is less than expected. These customers often cite a desire for more frequent new feature releases, improved transparency regarding future product roadmap plans, and enhancements in analytics and insights for decision support. This indicates that vendors in the financial GRC market can further enhance their offerings to better meet customer needs and expectations.

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