RSA Archer jumps ahead as a “Leader” in this year’s Operational Risk Management (ORM) Magic Quadrant, published this week by Gartner.
“Customers are looking to Leaders in this market to provide a solid base of functionality across the five ORM critical capabilities, which can be implemented with relative ease. Leaders also are noted for their ability to innovate and meet the future needs of enterprises across a range of industries and geographies,” says the report.
Beyond the rankings, Gartner’s reports are always instructive in how they define changes in the maturity of ORM solutions. This year they’ve highlighted risk mitigation action planning, KRI monitoring and reporting, risk quantification and analytics and incident management / loss event capture analysis as critical requirements. They also describe ORM as the key component of integrated risk management.
“The ORM solution market has progressed through the first phases of the Gartner Hype Cycle over the past three to five years, and its maturity level is characterized as early mainstream, with a market penetration of 20% to 50%. The market is not projected to plateau for another two to five years, and, during that time, it will be shaped by a number of priorities. ORM solutions are becoming increasingly important because of organizations’ growing need to meet compliance and regulatory requirements, particularly in financial services and healthcare, and because of their desire to avoid severe punishment from regulators. This is especially true in North America and Europe, and is the primary reason for the increase in technology maturity.” The full Gartner report is available to subscribers here…
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