Local firm launches IT governance knowledge site
GRC-ME.org aims to boost awareness of IT governance, risk and compliance in the Middle East
There's scope for a ‘lot of improvement' for IT governance in Middle Eastern organisations, according to Pradeep Menon, director of Dubai-based consultancy firm Quadrant Risk Management (QRM).
The company has just launched an IT governance, risk and compliance (IT-GRC) website - www.grc-me.org - which will include articles, interviews, surveys as well as news and trends from the sector.
According to Menon, regulatory requirements have been a key driver for IT governance in other regions like the USA and Europe, offering the example of the Sarbanes Oxley Act that requires top management to sign off on the effectiveness IT systems.
"Due to the absence of any such regulatory requirements, majority of the IT Governance initiatives in this region is driven with the motive of adoption of best practices and to demonstrate IT value. Adoption of best practices as a sole driver is not a rapid change catalyst and takes time in adoption," he added.
QRM said that requests from their clients, that come from a number of industries including airlines, banking and financial institutions and retail, was one of the reasons behind launching the website along with the realisation that "organisations in the region need real-life information on the subject."
Still, in spite of having access to all the right information, success boils down to the right person making the right decisions.
"The region in general has a great affinity towards products and consider them as the end and means, even for risk and compliance management. Irrespective of the sector, the critical success factor for the success of any programs within the organisation is an effective leadership that understands the same as an opportunity and not as a liability," stated Menon.