Vertex GRC phase 0.9
|Coordinator||Vertex Governance Risk Compliance AB|
|Funding from Vinnova||SEK 300 000|
|Project duration||March 2017 - August 2017|
|Call||Innovativa startups fas 1 Våren 2017|
Purpose and goal
The purpose of the Project was to develop a GRC-system (Governance, Risk, Compliance) that suits all organizations with the need to follow up on risks, internal control and compliance with rules an regulations (eg. GDPR, ISO-standards, MIFID, etc.). This is currently an increasing need with board and management and hence a fast growing market. Our aim was to lower the barriers and enable more organizations full access to the benefits of a modern GRC-system through a fast implementation, focus on end user usability and a fair price.
Expected results and effects
The result is the development of release 1 of the GRC application now ready to be launched. We strongly believe that we have succeeded to develop the most userfriendly GRC-system on the market, which has been confirmed by specialized consulting firms in the GRC field. We now expect to enter a market with a large demand, in particular as our product also is a perfect fit for small and medium sized companies where we currently see basically no competition. We expect our consulting partners to launch their service offerings based on our application, which will also increase our market exposure.
Planned approach and implementation
In general terms our project has been delivered as planned. We have achieved the overall goal to finalize the product while some unexpected events needed to be managed. Our business model is to deliver an application that consulting partners, experts in the GRC field, use in their service delivery. The specialist consultants have customer relationships and they understand the market demand. The feedback we get from these consultants is that we are spot on and that our product is something the market is ready for and need, which is a very good sign that we have a good and relevant product!