Compliance or collapse: Why UK businesses must move governance beyond spreadsheets

Yet amid this rapid shift, many are overlooking the foundational capability that enables these innovations to deliver safe, sustainable value: risk management and governance.

Without a modern approach to governance, the promise of technological tools (and the resilience of the wider company) becomes fragile and unreliable. And for those operating in a volatile or unpredictable industry, this is an increasingly untenable position.

The perilous landscape: Compliance as the new cost crisis

Across many industries, regulatory expectations and operational risks are rising sharply. Our internal research across the sectors we serve has found a 272% increase in regulatory compliance requirements, highlighting how significantly the burden has expanded.

This pattern is reinforced by several national studies:

• 91% of UK organisations say compliance complexity has increased (PwC, Reinventing Compliance, 2023).
• 49% cite regulatory complexity as a major challenge (PwC, 2023).
• The ICAEW Business Confidence Monitor reports that 47% of UK businesses now cite regulation as one of their biggest challenges, the highest level since 2018.

Meanwhile, the pace of technological change has outstripped governance readiness. Despite the broad interest in AI adoption:

• 31% of UK firms have no AI governance policy in place (CyXcel research)
• Only 2% say they fully understand upcoming AI rules such as the EU AI Act (VinciWorks study)

Collectively, these trends paint a clear picture: while regulations grow more complex, many companies are moving in the opposite direction, toward more fragmented, reactive risk management.

The legacy governance trap: Why spreadsheets are no longer enough

The biggest indicator of this gap is the widespread continued reliance on spreadsheets. Astonishingly, 81% of businesses continue to use multiple spreadsheets to record risks, mitigations, and compliance tasks.

Even in the highly regulated financial sector, 49% of firms still rely primarily on spreadsheets for risk reporting. This isn’t just inefficient; it introduces significant operational and legal exposure. Spreadsheets lack version control, offer limited audit trails, and provide no guarantee of data integrity.

These weaknesses have real commercial consequences too. A Dun & Bradstreet study found that 53% of UK businesses have had to reject potential customers because of poor risk visibility. When governance data is scattered, outdated, or incomplete, the organisation in question cannot demonstrate the level of control expected by auditors, insurers, or regulators. Manual governance is no longer a mere productivity issue; it’s a strategic vulnerability.

The hidden cost: People under pressure

Beyond commercial risk, the human cost can also be significant. Employees burdened by governance, risk, and compliance consistently report higher-than-average levels of workplace stress and burnout. Much of this strain stems from operating with inadequate tools, spending hours reconciling spreadsheets, chasing updates, and building reports by hand.

This is validated by multiple independent surveys of UK GRC professionals (such as the IRM Risk Culture Survey, 2024), which show consistently elevated stress indicators compared to the wider workforce. When teams are overwhelmed, governance becomes reactive rather than strategic, increasing overall organisational risk.

The business case for proactive governance

Leading organisations increasingly recognise that effective risk management is not just a defensive measure, it is a strategic enabler of growth, resilience, and improved performance. The evidence is consistent across multiple industries:

Major time savings

Those utilising a centralised risk management platform save 41 hours per month by eliminating manual administrative work.

Reduced consultancy costs

Those who have brought compliance in-house have reduced their reliance on external consultants from 63 days to 12 days, saving £89,000 annually.

Better insurance outcomes

Insurers increasingly reward organisations that can evidence mature governance, providing reduced premiums and improved terms (Allianz, Risk Barometer, 2025).

Improved leadership oversight

Despite its importance, only 64% of UK businesses say their board receives regular compliance reporting (NAVEX Global, Global Risk & Compliance Statistics, 2023). A centralised governance solution closes this information gap instantly.

Positioning for the future: Governance as a strategic enabler

As companies increase their adoption of automation and AI, governance must evolve from an administrative afterthought to a central pillar of operational strategy. The future-ready governance model requires:

 1. Centralisation and automation

Moving away from fragmented spreadsheets toward integrated systems that ensure consistency, accuracy, and auditability.

 2. Visibility and accountability

Enabling boards and leadership teams to access clear, real-time intelligence about risks, controls, and performance.

 3. Empowered compliance

Giving operational teams intuitive tools to record, track, and mitigate compliance risks without administrative barriers.

How OneAdvanced can help

When governance is centralised, businesses gain clarity and control. When it is proactive, they gain resilience. And when it becomes strategic, they gain competitive advantage.

To learn more about OneAdvanced and how we can help you move away from spreadsheets and toward a strategic approach, check out our Governance and Risk management solutions.