S2E5: Integrated Risk Management - Lessons from Oracle's GRC Exit
In this episode of The Risk Wheelhouse, hosts Ori Wellington and Sam Jones dive into a major development reshaping the Integrated Risk Management (IRM) landscape: Oracle's decision to sunset its legacy GRC suite by May 2025. The conversation explores the implications of this move, why it signals a broader shift in risk management strategies, and how businesses can turn this challenge into an opportunity.
Key Themes Explored:
The End of an Era for Oracle's GRC Suite
Ori and Sam examine the drivers behind Oracle's pivot to cloud-native solutions, such as their Risk Management Cloud, and why this transition doesn't fully replicate the legacy GRC functionalities. This shift is forcing organizations to reevaluate their risk management strategies and adopt more integrated, proactive solutions.The Opportunity for Modernization
The hosts highlight how this transition presents an opportunity to reassess and streamline risk management approaches. Instead of merely replacing systems, businesses can embrace more strategic, agile, and data-driven IRM frameworks.The Shift Towards Integration
The episode discusses how Oracle's decision underscores the need for seamless integration across IRM domains—governance, enterprise, operational, and technology risk management. This interconnectedness is vital as risks in one area increasingly cascade into others.Technology as a Game-Changer
Ori and Sam explore how technologies like AI, blockchain, and real-time analytics are transforming the IRM landscape. They emphasize the importance of prioritizing solutions that enable predictive risk management, making organizations more resilient and proactive.A Call for Leadership and Culture Change
Beyond technology, the hosts stress the critical role of leadership and culture in driving successful risk management. They encourage organizations to foster innovation, collaboration, and a forward-thinking mindset among their teams.
Why You Should Listen
This episode is a must-listen for risk professionals navigating Oracle’s GRC exit and seeking to stay ahead in an evolving risk environment. Packed with actionable insights, it highlights the importance of leveraging change as an opportunity for growth and innovation.
Key Takeaway:
The retirement of Oracle's GRC suite isn’t just a technological challenge—it’s a chance to rethink and future-proof your approach to risk management. By embracing integrated solutions and emerging technologies, businesses can transform risks into opportunities for success.
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