whyaye sees rising demand for Governance, Risk and Compliance services

Digital transformation specialist & ServiceNow Partner whyaye is experiencing increasing demand for its Governance, Risk and Compliance (GRC) services, as companies look to bolster their operational resilience capabilities, streamline their GRC processes and gain a wider long-term view of the risks they face.

The Newcastle upon Tyne, UK-based company saw a five-fold increase in the number of GRC projects it delivered for clients from the first half of last year to the second half of 2021.

whyaye is a premier partner for the ServiceNow digital platform, which helps companies manage digital workflows and in 2021 it was named ServiceNow EMEA Premier Segment Partner of the Year.

The company’s GRC assignments last year included operational resilience consultancy, ServiceNow Integrated Risk Management (IRM) implementation, ServiceNow Business Continuity Management (IRM) implementation, and scenario testing. whyaye delivered these for a range of companies from across the financial services sector, including a global bank, a high street retail bank, a global asset manager and a UK focused private bank.

And whyaye is set to deliver further GRC projects in 2022, with clients from the engineering and tech sectors – as well as financial services firms – already engaging its services.

whyaye can support businesses across internal controls management, policy and compliance management, risk management, audit management, vendor risk management and business continuity management.

Its team have substantial experience in ServiceNow’s key GRC applications, which they combine with decades of combined expertise across the risk and resilience landscape.

The company can help companies to comply more effectively with regulations, improve risk awareness and compliance become more efficient by automating their GRC processes.

Founded by Maureen Robson Norman, Anna Bisset and Lisa Smith – who met while working on a Royal Bank of Scotland project in 2014 – whyaye was set up in 2019 to bring a fresh, new approach to the UK consultancy landscape.

Its UK-wide team have extensive experience of delivering IT transformation, business change and operational resilience programmes for major global financial services institutions, global FMCG organisations and multinational technology companies.

The company recently moved to larger premises at The Toffee Factory in Newcastle, after seeing its revenue grow to more than £4 million in 2021 – an increase of more than 50 per cent on 2020’s figure – and staff numbers rise from 22 in December 2020 to over 60 by the end of last year.

Stuart Birnie, GRC lead at whyaye, said: “The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) operational resilience regulations – which come into force in March – have certainly increased demand for our GRC services, as firms look to manage risk more effectively and comply with the regulations.

“However, we are also witnessing an increased awareness of the financial and reputational impacts of disruptions to digital services, cyber security breaches and system outages in the FS sector. This is coupled with a desire to find more efficient ways of building resilience, forecasting risk, offering a better customer experience and demonstrating regulatory compliance.

“These factors are undoubtedly driving more demand for whyaye’s specialist GRC capabilities.”

Maureen Robson Norman, CEO of whyaye, said: “We have drawn an array of talent into our team since whyaye was launched in 2019, and I am delighted that we are using this expertise to support FS organisations both in the UK and overseas.”

whyaye’s portfolio of services includes Enterprise Transformation, Programme Delivery, Product and Platform Assurance, Business Change and Operational Risk and Resilience, and it has with extensive experience in HR Service Delivery and Customer Service Management programmes, as well as GRC.

For more information on whyaye, visit https://whyayeltd.com/

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