Q&A with a GRC Software Selector

Whenever a GRC software vendor, or its PR team, gets in touch with me lately, I've been asking them to connect me to recent buyers so I can find out more about how the selection process (I'm also asking vendors for their take on software selection best practices).

Steven Kelly, IT sourcing manager at Navistar Inc., recently answered questions about his company's selection of a GRC application from BWise.

What were the primary needs for this type of (GRC) application at this point in time in your organization?

SK: We needed a solution that would help us strengthen our internal SOX reporting capabilities corporatewide. Timely financial data collection is challenging, especially when you have locations globally. Navistar needed the capability to integrate reporting operations using consistent format with the goal of providing both shareholders and government regulatory agencies with current and accurate information.

Who was the primary individual leading the purchasing effort?

SK: The executive sponsor for the investment was Kim Fugiel, vice president of SOX Compliance, who led the evaluation team to identify a GRC solution. (Note: Kelly managed the project from a software acquisition perspective.)

How did the selection process work? (i.e., was there a team? Who was on it? How long did the selection take? What did the research consist of?)

SK: We put out a formal RFP and our selection team consisted of six people who reviewed multiple GRC solutions. The selection process is very lengthy; it's very much a due diligence process and it took approximately 4 - 6 months to complete the cycle.

What, if anything, surprised you about overall vendor market in this software space?

SK: The number of different application choices available. We had challenges in selecting a vendor as there are many good products on the market. It was rather difficult to compare the various options.

What were the three most important qualities that sold you on BWise?

SK: The responsiveness of their supplier team, their flexibility in helping us look at different product options, and their overall strategic fit with our SOX initiatives.