Reaping business value from better GRC efficiency, effectiveness and agility in complex Third Party Programs
We’re pleased to be able to share a GRC20/20 Case study on Adobe’s implementation with Aravo with you.
The study is a result of independent research conducted by Michael Rasmussen, Chief GRC Pundit for GRC 20/20 and internationally recognized expert in the field of Governance, Risk and Compliance. Earlier this year, Rasmussen spent time speaking to Adobe about their implementation of Aravo’s Third Party Management solution to explore their experience, and understand what kind of benefits they were realizing.
The results were very positive, highlighting the ease of working with Aravo, the responsiveness of the team as well as the technology delivering a number of quantitative and qualitative measures of value associated with human and financial efficiencies. Aravo and Adobe were honored to be awarded a GRC 20/20 Value Award for Third Party Management as an outcome.
The study found that there were a range of business benefits associated with the Aravo Enterprise implementation that resulted in value for Adobe. The implementation delivered these results:
- Employee time needed to onboard third parties has dropped significantly, as has the overall time it takes to onboard a third party. In conjunction with this there’s been considerable uplift in internal and third party response times and standards, and greater data accuracy and thoroughness in information provided by third parties.
- Increased visibility and ongoing management of third parties throughout the lifecycle of the relationship.
- Ability to manage third parties in a dynamic risk, regulatory and business environment and to adapt to changes when they occur, including the capability to categorize vendors according to high and low risk across a range of risk areas.
- Agility to quickly identify high-risk relationships and activities as situations arise to monitor and contain impact.
- Capability for Adobe to self-manage the solution and adapt it to a changing business environment as Adobe can build workflow and processes itself to meet its specific and evolving needs.
Commenting on the results, Michael Rasmussen says: “GRC 20/20 has evaluated and verified the implementation of Aravo at Adobe and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. Adobe benefits from increased efficiency of its employees and stakeholder time while having a solution that is flexible to adapt and mold to Adobe’s changing and expanding needs. Adobe have told GRC20/20 that Aravo has been easy to work with, responsive to questions and requests, and they have benefitted from the excellent support and professional services of Aravo as well as the core technology itself.”
You can read more about the 20/20 Value Award here.