GRC Software

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Showing 1 - 20 of 139 products
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Showing 1 - 20 of 139 products

SailPoint

SailPoint is an identity management solution that helps organizations manage employee permissions, digital identities, information security, data access, compliance and more on a unified portal. The platform enables organizations ...Read more

4.25 (8 reviews)

enVisual360

enVisual360 is a wealth management/CRM software solution that helps small to large enterprises monitor client and entity information. enVisual can be implemented as a cloud application or on-premise application. enVisual includes...Read more

0.00 (5 reviews)

Essential ERM

Essential ERM is a secure web-based Enterprise Risk Management system. Easy-to-use screens and innovative visual features engage business unit managers, executives and board members. Essential ERM is an excellent catalyst to launc...Read more

4.63 (16 reviews)

Mine PrivacyOps

With Mine PrivacyOps, companies can improve their privacy management and increase trust in their brands. Businesses can leverage the platform's integrations and automations to optimize their data infrastructure, handle data privac...Read more

4.53 (19 reviews)

Optial SmartStart

Optial SmartStart is a cloud-based governance, risk and compliance (GRC) solution. It serves businesses of all sizes in industries such as banking, insurance, manufacturing and retail. Primary features include compliance managemen...Read more

5.00 (1 reviews)

Symfact

Symfact is a contract and compliance management solution for businesses of all sizes designed to help streamline the entire contract lifecycle, from compliance delivery to risk mitigation and resource planning. Key features includ...Read more

4.33 (18 reviews)

LogicGate

LogicGate is a cloud-based SaaS solution that helps organizations automate their risk and compliance programs. Instead of depending on spreadsheets and email to handle the most critical risk and compliance activities, LogicGate ce...Read more

4.70 (27 reviews)

2 recommendations

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Resolver

Resolver’s risk management software is a cloud-based solution for midsize to larger enterprises that serves customers across a variety of industries and business needs. These industries include banking and financial services, heal...Read more

4.42 (12 reviews)

1 recommendations

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Cority

Cority offers a cloud-based, enterprise quality management and compliance software solution for midsize to large global manufacturers. It is suitable for manufacturers that operate in industries such as automotive, aerospace and d...Read more

4.33 (81 reviews)

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Enablon Risk Management

Enablon is a cloud-based environment, health and safety (EHS) management solution that helps organizations track the use of natural resources. Enablon allows users to create action plans and ensure proper follow-ups with bui...Read more

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Software pricing tips

Read our GRC Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

ERA EH&S Software

ERA EH&S is a suite supporting environment, health and safety (EHS) management. It is primarily designed for general manufacturing and the oil and gas industries. The product has a reporting library that has the capability to...Read more

4.82 (11 reviews)

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Q-Pulse

Q-Pulse is a governance, risk and compliance (GRC) solution for the manufacturing, health care and airline industries. The solution enables organizations to manage their processes and take preventive action. Q-Pulse provides on-pr...Read more

4.27 (51 reviews)

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ZenGRC

ZenGRC is a cloud-based and on-premise governance, risk and compliance (GRC) management solution. It serves businesses of all sizes in any industry, including technology, retail, consumer goods, health care and finance. Primary fe...Read more

4.46 (24 reviews)

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AuditBoard

AuditBoard transforms how audit, risk, and compliance teams manage today’s dynamic risk landscape with a modern, connected platform that engages the front lines, surfaces the risks that matter, and drives better strategic decision...Read more

4.68 (53 reviews)

1 recommendations

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IntelligenceBank GRC

IntelligenceBank is a cloud-based Digital Asset Management (DAM) solution that helps businesses to streamline marketing processes. The solution gives users a way to control, centralize, create and distribute brand assets in the cl...Read more

0.00 (1 reviews)

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StandardFusion

Standard Fusion is a cloud-based compliance management solution that is designed for industries such as healthcare, technology, manufacturing, government and retail. Key features include control management, control monitoring and ...Read more

4.90 (10 reviews)

1 recommendations

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Predict360

Predict360 is a flagship software solution of 360factors. It is a Risk and Compliance management platform augmented with Artificial Intelligence (A.I.) technology to predict and mitigate operational risks while streamlining regula...Read more

4.60 (5 reviews)

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ProcessGene GRC Software Suite

ProcessGene is a cloud-based governance, risk and compliance (GRC) platform that helps multi-subsidiary organizations automate workflows and reduce costs and man hours in implementing GRC programs. Features include risk audits, da...Read more

4.48 (97 reviews)

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LogicManager

LogicManager is a cloud-based solution that helps businesses implement and integrate all risk management processes in a customizable platform. The tool enables users to identify and assess high-impact risks and allocate the right ...Read more

4.56 (16 reviews)

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NAVEX IRM (formerly Lockpath)

Recognized as a Leader in the Gartner® Magic Quadrant™ for both IT Risk Management and IT Vendor Risk Management, NAVEX IRM brings visibility to risks frequently managed in disparate sources. It aggregates internal data points fro...Read more

4.65 (20 reviews)

3 recommendations

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Popular GRC Software Comparisons

Buyers Guide

Last Updated: March 11, 2022

Different teams in a business often use disparate methods to record risk assessment values, audit results, and compliance data. Some may use spreadsheets, while others may store physical copies of data.

Such disparate practices make it difficult for you—the business owner or leadership team—to get a comprehensive picture of how your organization as a whole is complying with regulations, mitigating risks, and following policies.

Governance, risk, and compliance (GRC) software helps you monitor and enforce rules to coordinate data collection across teams and departments, assess risk exposure, conduct audits, and ensure organization-wide compliance with regulations and policies.

In this buyers guide, we'll dive into the different parameters you need to look at when purchasing a GRC solution. Here's what we'll cover:

What is GRC software?
Common features of GRC software
What type of buyer are you?
Benefits of GRC software
Key considerations when buying GRC software
Recent market developments

What is GRC software?

GRC software is a tool that helps you incorporate synchronized data governance, risk, and compliance management strategies into your various business processes. It makes it possible to enforce frameworks that govern how data is stored and used, how risks are dealt with, and how policies are implemented.

GRC platforms offer a centralized system to manage data controls, assess risks, and update business rules based on risk exposure. The solution also allows you to track policies, maintain audit logs, record incidents, and monitor user privileges.

Risk diagnostic tool in ProcessGene

 

Risk diagnostic tool in ProcessGene (Source)

Common features of GRC software

The table below lists common features you need to look out for when buying GRC software solutions.

Policy management Create, review, edit, approve, and store policies and share them across the organization.
Change management Support process modifications based on regulatory updates and help management in make changes to relevant controls, policies, and assessment techniques.
Risk management Assess IT and operational risks in different business processes using qualitative and quantitative methods, such as benchmarking and stochastic analysis.
Audit management Help internal auditors plan and schedule audit tasks, track audit results, prepare audit reports, and suggest remediation methods.
Incident management Support users in identifying, recording and remediating events or activities that can lead to regulatory noncompliance, downtime, or financial or reputation loss.
Compliance management Plan, define, control, and document activities around different types of compliance requirements such as financial reporting, healthcare regulations, or other service level agreements.
Dashboard Provide real-time information on key compliance metrics, performance indicators, and risk levels to help management make decisions around controls or corrective action.
Reporting Prepare, store, and archive audit reports, risk assessments, compliance reports, and attestations.
Notifications Alert administrators or other authorized persons about elevated risks, compliance breaches, or any unusual activity through messages or emails.

What type of buyer are you?

Industry regulations and the increasing risks of new and advanced security threats make GRC solutions invaluable to all organizations. Below we discuss two broad categories of businesses and the key attributes they need to look for in GRC solutions.

  • Small and midsize businesses (SMBs): GRC platforms offering basic functions such as reporting, auditing, risk management, and compliance management will help such buyers ensure organization-wide compliance and uniform risk mitigation strategies. (Several software vendors offer GRC solutions tailored to SMB needs and budgets.)
  • Large enterprises: Enterprises are under scrutiny by a larger number of regulations than SMBs due to their scale of business and, typically, geographically-distributed operations. Multinational companies should look at GRC solutions that offer support in different geographies. They may also need to opt for customized GRC solutions to meet their specific compliance and business policy needs.

Additionally, there are GRC solutions that cater to specific industry verticals such as banking and financial services (BFS), healthcare, and governments/public sector. Ask vendors on your shortlist if they offer GRC software solutions tailored to your industry.

Benefits of GRC software

In addition to ensuring proper governance, compliance with regulations, and risk management, here are some other benefits that you can see by using GRC software.

  • Save time by automating tasks: GRC platforms help employees save time by automating reporting, compliance, and risk assessment tasks. Employees don't have to manually prepare reports, plan audit jobs, etc. but can use the software to complete these tasks.
  • Improve collaboration by unifying processes: This software helps improve collaboration between your IT, operations, security, and legal teams by aggregating data on risks, compliance, policies, and controls from across the organization.
  • Reduce compliance costs: GRC tools help capture and notify different IT and operational risks, thereby reducing the cost of managing vulnerabilities and saving on regulatory expenses such as fines.

Key considerations when buying GRC software

Choosing the right GRC platform can be a challenge because of the number of options on the market. Here, we discuss a few things you should consider when purchasing GRC software.

  • Cloud vs. on-premise software: Choosing a deployment option is one of the key considerations when buying any type of software. Most GRC software vendors offer both SaaS and on-premise versions. Cloud-based GRC systems are more popular among SMBs due to their lower upfront costs.
  • Support compliance with multiple regulations: Organizations may cut into regulatory frameworks outside their industry. For example, a healthcare practice that accepts online payments; this practice will be subject to HIPAA as well as PCI-DSS. Each businesses should evaluate its individual business model before purchasing to better identify a GRC solution that accommodates all the different regulatory frameworks applicable.
  • Integrations: GRC software that integrates with general performance management systems, BI tools, etc. help provide a consolidated picture of your overall business operations. Integration with accounting software helps when financial approvals are needed for incident management or risk training.

Recent market developments

In this section, we discuss some of the key trends observed in the GRC software market.

  • Move toward integrated risk management: Gartner's report, "Transform Governance, Risk and Compliance to Integrated Risk Management" (available to Gartner clients only) notes that there is a shift away from compliance-focused activities in GRC software to greater investments in risk-based approaches. The industry is focusing more on aiding businesses in understanding and managing the full scope of risks that they face than in managing compliance issues alone.
  • Market consolidation: The GRC and risk management software market is witnessing strong consolidation, with large, well-established vendors taking over smaller firms. Some of the acquisitions that have happened recently include that of Rsam by ACL and Bwise by SAI Global.

Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.