Businesses are struggling with rising compliance costs due to fragmented processes, paving the way for proactive risk management. They seek automation in compliance management, risk assessment, and fraud detection while ensuring data security amid evolving regulations. They also want to establish an integrated GRC-ESG strategy for efficient ESG reporting and monitoring.

Recognizing these market dynamics, HCLTech focuses on automating GRC reporting by integrating ChatGPT-4 with platforms such as Archer IRM and ServiceNow, reducing human intervention and addressing high compliance costs. It is also investing in a crisis management command center, providing resiliency services in data privacy, disaster recovery, and crisis management to ensure business continuity. Furthermore, it has expanded its GRC practice with new ESG-focused services to help customers with ESG performance tracking and reporting services.

HCLTech’s comprehensive portfolio of services and initiatives to augment its solution and platform capabilities to meet enterprise-wide GRC needs have placed it as a Leader in Avasant’s Risk and Compliance Services 2023 RadarView.

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