Steering governance, risk, and compliance in a dynamic market: Besfort Kuqi, Co-founder and CEO, Swiss GRC

Swiss GRC, a provider in Governance, Risk, and Compliance (GRC) solutions, recently announced its expansion into the India Market. The company is involved in the management of corporate governance, risk management, and regulatory compliance within organizations. GRC frameworks are essential for ensuring that businesses operate ethically, adhere to laws and regulations, and manage risks effectively. Besfort Kuqi, Co-founder and CEO, Swiss GRC spoke to Dataquest and unveiled insights into the company’s strategic vision for growth and proliferation in India market.

DQ: Can you share the strategic vision behind Swiss GRC's decision to expand into the Indian market for Governance, Risk, and Compliance solutions?

Besfort Kuqi: We observe a multitude of developments unfolding in India. On the one hand, there's a notable surge in economic growth. Conversely, there's a simultaneous surge in regulatory activities, particularly in areas such as cybersecurity, data privacy, resilience, as well as other critical aspects like business continuity. It's evident that there's a gap in the market, with few companies providing comprehensive tools to manage these diverse activities, including GRC tasks, and to meet the stringent requirements set by regulatory bodies. Recognizing this opportunity, we have made the strategic decision to launch our software services tailored specifically for Indian companies.

DQ: Are they any challenges you foresee when working in a complex regulatory environment like India?

Besfort Kuqi: Expanding into new regions always presents challenges and uncertainties. However, we've gained significant experience in this regard, having recently ventured into the Middle East and Africa. This experience has equipped us with valuable insights on how to navigate new markets and regions effectively. As we approach the Indian market, we've engaged in extensive discussions and brainstorming sessions to devise our strategy. Establishing strong partnerships is paramount for us at this stage. We recognize the importance of collaborating with local companies to provide consulting, implementation, and support services. Having reliable partners is crucial for maintaining a solid presence and reputation in the long term.

DQ: Are there any plans for collaborations or partnerships with local businesses or government bodies to strengthen Swiss GRC's presence and adaptability in the Indian market?

Besfort Kuqi: Our strategy involves entering the market through robust partnerships, and we're currently in discussions with potential partners. While I'm unable to disclose specific company names at this time, we'll announce our partnerships officially once they're finalized and established.

DQ: Given the diverse business environment in India, how does Swiss GRC plan to tailor its solutions to meet the specific needs and regulatory frameworks of Indian businesses?

Besfort Kuqi: In essence, our approach is broad and adaptable, offering a flexible tool capable of accommodating specific needs. Whether it's tailored to a particular industry, state, location, or regulatory demand, our software is designed to swiftly adjust. This adaptability stands as a significant advantage of our solution, enabling us to promptly cater to diverse requirements. While we currently don't have highly specialized solutions in place, we provide consulting services to understand our clients' needs thoroughly. This allows us to tailor our solution precisely to meet their unique requirements.

DQ: With rapid technological advancements, how does Swiss GRC plan to integrate emerging technologies, such as AI and blockchain, into its solutions to stay at the forefront of innovation in India?

Besfort Kuqi: Internally, we leverage AI across various facets of our operations, notably in the application development lifecycle, where it serves to enhance efficiency and effectiveness. Throughout this process, AI streamlines tasks, improves workflows, and optimizes resource allocation, thereby enabling us to deliver high-quality solutions in a timely manner. Moreover, our AI capabilities extend to supporting users such as risk managers, compliance officers, and security officers, empowering them to efficiently manage their activities within our solution. By harnessing AI technologies, we not only streamline internal processes but also equip our users with powerful tools to navigate complex challenges, ultimately driving greater operational excellence and delivering enhanced value to our stakeholders.

DQ: Can you provide insights into the investment and resource allocation plan for Swiss GRC's India expansion, including hiring local talent and establishing a robust support infrastructure?

Besfort Kuqi: To be honest, our current plan is to initiate our operations with our partners and assess our progress as we grow. Depending on how things unfold and our expansion trajectory, this option could become viable. Certainly, if we acquire a substantial client base, it would be essential to provide support, guidance, and consultation services tailored to their needs. In such a scenario, directly engaging with our client base could prove to be a logical step forward.