S3E5: The Workiva Sell-Off Reveals What's Really Driving Today's IRM Market
A minor tremor—or a market wake-up call?
In the latest episode of The Risk Wheelhouse, hosts Ori Wellington and Sam Jones break down a seemingly routine market fluctuation that revealed far more than expected. Season 3, Episode 5—The Workiva Sell-Off Reveals What’s Really Driving Today’s IRM Market—examines how the sudden drop in Workiva’s stock price, despite favorable earnings, exposed a deeper truth about the state of Integrated Risk Management (IRM) in 2025.
At first glance, the culprit seemed small: whispers of delays to the EU’s Corporate Sustainability Reporting Directive (CSRD) and postponed sustainability regulations triggered investor unease. But beneath that reaction lies a profound shift in IRM market dynamics. No longer driven solely by product innovation, today’s IRM landscape is shaped equally by the volatility of regulatory timelines, geopolitical risk, and enterprise strategy.
What This Means for IRM Segments
Ori and Sam outline the ripple effect across the four IRM domains:
GRC (Governance, Risk & Compliance): Most exposed to regulatory swings. Compliance-first platforms are vulnerable when political decisions delay ESG rollouts or water down disclosure requirements. Legacy vendors in this space are especially at risk of market erosion.
ERM (Enterprise Risk Management): Better positioned due to its focus on aligning risk with strategy. Rather than reacting to specific regulations, ERM frameworks help leaders make long-term, resilient decisions that span economic and operational domains.
ORM (Operational Risk Management): Walking the line between compliance and continuity, ORM gains strength amid escalating cyber threats and third-party failures. It’s becoming essential for ensuring business-as-usual in a world that’s anything but.
TRM (Technology Risk Management): The market’s growth leader. With a projected CAGR of 12.9% through 2032, TRM addresses board-level fears about existential technology risks—like AI safety, ransomware, and cloud disruptions—while remaining largely insulated from ESG-related policy shifts.
The Amazing IRM Race
No longer driven solely by product innovation, today’s IRM landscape is shaped equally by the volatility of regulatory timelines, geopolitical risk, and enterprise strategy.
The Strategic Signal: Integration = Resilience
This episode’s core insight is clear: true business resilience depends on integrated risk thinking—not siloed compliance tools. As regulations become more politicized and unpredictable, organizations that can unify risk insights across domains will be far better equipped to weather market shocks and operational disruptions.
Whether you're a risk leader, investor, or technology buyer, this episode offers critical guidance for navigating IRM’s next chapter.
🎧 Listen now below and on Apple Podcasts, Spotify, or Amazon.
🔍 Want more? Visit The RTJ Bridge - The Premium Version of The RiskTech Journal for exclusive insights.
📣 Join the conversation on LinkedIn and X (Twitter).
🔍 For related insights, explore The RiskTech Journal and the IRM Navigator™ Report Series at WheelhouseAdvisors.com.
