Categories   >   GRC Software
Last Reviewed: November 14th, 2024

Best GRC Software Of 2024

What is GRC Software?

Governance, Risk and Compliance (GRC) software is a holistic business solution designed to address corporate governance, enterprise risk management, and regulatory and compliance requirements. It resolves the challenge of operating in complex regulatory environments, mitigating risks, and maintaining effective governance. The software’s versatility in integrating with existing systems makes it a beneficial asset across industries, especially in heavily regulated sectors like finance, healthcare, and energy. Key functionalities include policy and control management, risk analytics, incident management, and regulatory compliance tracking. However, it may require significant initial setup and can be costly, posing limitations for smaller firms. In essence, GRC software provides an overarching approach to align corporate governance with risk measures and compliance obligations, thereby offering firms a unified strategy and vision, promoting business efficiency, reducing redundancies, and mitigating potential risks.

What Are The Key Benefits of GRC Software?

  • Enhanced Compliance Management
  • Efficient Risk Mitigation
  • Streamlined Governance Processes
  • Improved Decision-making
  • Unified Strategic Vision
  • Reduced Operational Redundancies
  • Augmented Business Efficiency
  • Accurate Risk Analytics
  • Effective Incident Management
  • Policy/Control Management Facilitation
Read more

Overall

Based on the latest available data collected by SelectHub for 36 solutions, we determined the following solutions are the best GRC Software overall:

Vanta
Vanta
Start Price
$10,000
Annually
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Vanta

Is Vanta the vantage point for businesses seeking streamlined trust management? User reviews from the past year suggest a resounding "yes," but with a few caveats. Vanta receives high praise for its automation, particularly in simplifying compliance processes. Users highlight the intuitive dashboard, helpful support team, and pre-built templates that expedite document creation as major advantages. For instance, one user, a software engineer responsible for cloud infrastructure security, expressed relief at not having to create compliance tests from scratch, emphasizing the time-saving benefit of Vanta's automated solutions.

However, some users point out areas for improvement. Occasional bugs, although reportedly resolved quickly, can disrupt workflow. There are also calls for more frequent template updates and increased automation for tests and documents, suggesting that Vanta, while strong in automation, has room to enhance its offerings further. Despite these minor drawbacks, Vanta's strengths in automation, coupled with its user-friendly interface and robust support, make it a compelling choice for businesses navigating the complexities of trust management.

Vanta appears particularly well-suited for small to medium-sized businesses (SMBs) and startups that may lack the resources for dedicated compliance teams. Its intuitive design and automation features empower these businesses to manage compliance tasks efficiently, freeing up valuable time and resources to focus on core operations and growth.

Pros & Cons

  • Automated Compliance: Vanta automates up to 90% of the audit preparation process, simplifying security and compliance for businesses.
  • Centralized Reporting: The platform includes a Report Center that provides a real-time, comprehensive view of a business's security and compliance posture, including risk management, vendor status, and compliance status.
  • Streamlined Vendor Risk Management: Vanta automates vendor reviews, reducing the time spent on these reviews by up to 90% and provides continuous visibility into vendor risk.
  • Improved User Experience: Vanta prioritizes user experience with features like a new policy builder, background checks within the platform, and an updated navigation, making it easier for startups to achieve compliance.
  • Notification Overload: Users have reported experiencing excessive notifications, leading to "alarm fatigue" and potentially causing important alerts to be overlooked.
  • Occasional Bugs: Some users have mentioned encountering occasional software bugs, which can disrupt workflows and cause frustration.
  • Limited Automation Depth: While Vanta offers a solid framework and automated features, some users desire deeper integration for more comprehensive automatic checks, particularly for tasks like policy templates and document management.

Key Features

  • Automated Security Monitoring: Vanta continuously scans your systems for vulnerabilities, ensuring compliance with security standards like SOC 2, ISO 27001, and GDPR.
  • Real-Time Risk Assessment: Provides instant insights into potential security risks, allowing for proactive management and mitigation.
  • Customizable Compliance Frameworks: Tailor compliance requirements to fit your organization's specific needs and industry standards.
  • Comprehensive Audit Trail: Maintains a detailed log of all compliance activities and changes, facilitating easy audit preparation and review.
  • Integration with Popular Tools: Seamlessly connects with tools like AWS, Google Cloud, and Slack to streamline compliance processes.
  • Automated Evidence Collection: Gathers necessary compliance evidence automatically, reducing manual effort and human error.
  • Policy Management: Offers a centralized platform to create, manage, and distribute security policies across the organization.
  • User Access Control: Monitors and manages user permissions to ensure only authorized personnel have access to sensitive data.
  • Incident Response Planning: Provides tools to develop and test incident response plans, ensuring readiness for potential security breaches.
  • Continuous Employee Training: Delivers ongoing security awareness training to employees, reinforcing best practices and compliance requirements.
  • Vendor Risk Management: Assesses and monitors third-party vendors to ensure they meet your security and compliance standards.
  • Data Encryption and Protection: Implements robust encryption protocols to safeguard sensitive information both in transit and at rest.
  • Custom Reporting and Dashboards: Generates detailed reports and visual dashboards to track compliance status and identify areas for improvement.
  • Scalable Architecture: Designed to grow with your organization, accommodating increasing data and compliance needs without compromising performance.
  • 24/7 Support and Guidance: Offers round-the-clock access to compliance experts for assistance and advice on best practices.
Qualys
Qualys
Company Size
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Deployment
Cloud On-Premise
Platform
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Why We Picked Qualys

Qualys is a cloud-based platform that allows users to pick and choose modules depending on their requirements. Its vulnerability management, patch management and reporting modules are some of the best in the category. In addition, integrations with third-party enterprise software make it an end-to-end solution that can take care of all your risk management needs.

However, adding too many modules together can drive up costs. Its speed and testing accuracy can also suffer at times. Nevertheless, considering its comprehensive kit, simple UI and knowledgeable support team, Qualys stands out amongst its competitors.

Pros & Cons

  • Functionality: 90% of users who reviewed this element appreciated the platform’s functions, including asset management, patch management, corporate scanning, patch manager and scan maps.
  • Ease of Use: According to 59% of users who reviewed this aspect, the system’s intuitive UI makes it easy to use and navigate.
  • Reporting: 81% of users who mentioned this feature said they were satisfied with the detailed and accurate vulnerability descriptions in threat reports.
  • Service and Support: According to 67% of users reviewing this element, the technical support team is responsive and resourceful.
  • Deployment: 80% of users who reviewed deployment found it straightforward.
  • Integration: All the users who mentioned this element were satisfied with the choice and quality of integrations.
  • Speed and Performance: 87% of users who reviewed performance experienced false positives, inaccurate scan results, slow scans and unexpected downtimes.
  • Cost: According to 82% of users mentioning this aspect, the solution’s pricing strategy makes it very expensive.

Key Features

  • Infrastructure Security: Monitor threats in real time, analyze compliance risks and run reports with a powerful data analysis engine. Always maintain a 360-degree view of IT infrastructure security. 
    • Infrastructure Inventory: Survey the organization’s IT architecture to detect and catalog all connected assets automatically. Get a direct feed on the dashboard of product information, hardware/software life cycles, software licenses, running services, and more. Categorize assets according to product families and custom tags. 
    • Vulnerability Management: Accurately monitor all system assets with the Six Sigma scanning functionality. Run security assessment reports, assign remediation tickets and manage application exceptions. The Qualys security configuration assessment (SCA) manages all security-related configuration issues with CIS-certified controls and policies. 
    • Continuous Surveillance: Receive vulnerability alerts in real time with continuous monitoring. Set up custom surveillance profiles and datasets to detect unexpected hosts, expiring SSL certificates, open ports, undesired software and other severe vulnerabilities. 
    • File Integrity Monitoring: Monitor operating systems globally to manage core events, keep tabs on file integrity and capture change incidents. Use preconfigured industry-specific protocols to maintain file integrity and compliance requirements. 
    • System Monitoring: Safeguard the system against vulnerabilities, exploitations and misconfigurations with the multi-vector endpoint detection and response module. Get vital context and insights into security incidents by correlating multiple context vectors. Acquire complete visibility of endpoint processes and threat remediation. 
    • Remediation Response: Automatically correlate asset inventory against a vulnerability disclosure live feed to determine critical threats. Search for specific product information and vulnerabilities with customizable queries. Filter threats according to its real-time threat indicator (RTI). 
  • Cloud Security: Protect both hybrid and public cloud environments with platform-wide security coverage, complete asset visibility and virtual scanner applications. 
    • Asset Management: Secure cloud assets and public workloads with real-time tracking and classification of vulnerability instances. 
    • Prioritize Remediation: Automatically target critical vulnerabilities first with the Threat Protections module’s Live Threat Intelligence Feed. 
    • Compliance: Investigate applications, operating systems and network devices for compliance failure and configuration drift. Streamline the organization’s compliance assessments with preconfigured policies using CIS Benchmarks. Create technology-specific custom controls and run reports for risk managers, auditors and executives. 
    • Account Security: Maintain a holistic view of cloud accounts, assets and services with its Cloud Inventory module. Safeguard against misconfigurations, non-standard deployments and security breaches with the Cloud Security Assessment extension. 
  • Web Application Security: Leverage web application scanning and firewall capabilities to scan and defend against external threats like OWASP Top 10 attacks. Patch and remedy vulnerabilities in real time. 
    • Visibility: Monitor both approved and unapproved web applications with custom labels. Automatically update inventory with applications hosted on local, mobile, IoT or cloud architectures. 
    • Vulnerability Detection: Continuously scan all connected web applications for critical vulnerabilities and misconfigurations. Smart scanning covers all SOAP and REST-based APIs and prepares custom security reports. 
    • Application Testing: Perform test runs of web applications on remote and mobile devices, cloud environments and internal networks. Run complex scans throughout the development and quality analysis stages. Supports processes like DevOps, Agile and Continuous Delivery. 
    • Malware Protection: Use the dashboard to scan, detect and eliminate malware. Run remediation and blacklist infected websites. 
    • Block Web Server Attacks: The Web App Firewall module creates virtual patches and remediation responses on the go. Detect and patch vulnerabilities with security templates and establish custom rules for the firewall. 
  • Endpoint Security: Maintain a continuous inventory of all connected endpoint devices including PCs, laptops, tablets, smartphones and more. Detect suspicious activity and vulnerability in real time with complete visibility of networked endpoints. Eliminate critical misconfigurations and breaches with multi-vector threat contextualization, data visualizations and forensic analysis. 
    • Compliance: Automatically ensure compliance of endpoint devices with IT policies and mandates like PCI, GDPR and HIPAA. 
  • DevOps: Get dedicated support throughout the application development lifecycle with bug and misconfiguration testing, compliance audits and security checks. 
    • Integration: Streamline the development process with popular tools and plugins including Puppet, Bamboo, Jenkins ServiceNow and more. Create appropriate integrations with REST-based APIs. Visit the vendor’s Github repository to access the sample code. 
    • Track Progress: Run reports with data consolidated from integrated applications and internal processes. Run reports directly from the dashboard and compare performance against industry benchmarks and standards. 
    • Container Security: Securely build and develop container-native applications without disrupting integration and deployment pipelines. Scan container images for vulnerabilities and compliance failures. Automatically detect runtime errors and behavioral anomalies in applications deployed on AWS ECR, Fargate and EKS. 
  • Compliance Solutions: Ensure the organization’s practices, assets, endpoint devices and applications are in compliance with industry standards and regulations. Generate reports on compliance data and manage third-party risks like contractors, partners and vendors. 
    • IT Compliance: Oversee compliance of IT assets. Automate the verification process with custom controls and configuration requirements. 
    • PCI Compliance: Comply with Payment Card Industry Data Security Standard (PCI DSS) guidelines. Patch vulnerabilities and submit compliance reports to relevant banks. 
    • Third-Party Risk: Automate third-party risk management with purpose-built notifications, deadlines, workflows, templates and more. 
  • Public Cloud Platforms Integration: The vendor provides security and compliance services for Microsoft Azure, Google Cloud and AWS. 
Workiva
Workiva
Company Size
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Deployment
Cloud On-Premise
Platform
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Why We Picked Workiva

Workiva is a cloud-based comprehensive reporting platform that provides unrestricted global access to FERC and SEC reporting modules, internal controls, and audit and policy management tools for complete in-house risk management. The platform can be difficult to learn initially, but a responsive support team makes it easier to understand the functionalities. In addition, automated reporting processes add a lot of value to the platform.

However, the NextGen platform has a few performance issues. Updates can cause temporary glitches and bugs, resulting in unforced errors in datasets. All in all, Workiva is a safe bet for vulnerability management software. In spite of high subscription costs, it’s an excellent candidate if you can fit it into your budget.

Pros & Cons

  • Functionality: 69% of users who reviewed this aspect were satisfied with the platform’s functionalities, including internal controls and issue Testing, SOX narratives, auditing, and policy management.
  • Ease of Use: According to 61% of users mentioning this element, the platform’s intuitive UI makes it easy to use.
  • Sharing and Collaboration: All the users who mentioned this element said the platform made it easier to share documents and collaborate on projects.
  • Service and Support: 83% of users reviewing customer support said it’s highly responsive and knowledgeable.
  • Automation: 100% of reviewers mentioning automation found it helpful to learn and apply new formats and automate financial and regulatory processes.
  • Speed and Performance: 100% of users mentioning performance said they experienced bugs, glitches and slow upload and export speed on the NextGen platform.
  • Cost: All the users who reviewed this aspect found the system’s subscription charges higher than its competitors.
  • Training Resources: 60% of users mentioning this element said the platform requires more training material to compensate for its steep learning curve.

Key Features

  • Enterprise Risk: Get a 360-degree picture of risk with dedicated assessment and remediation capabilities. Generate reports and perform internal audits to make informed business decisions. 
    • Risk Assessment: Track and assess risks in real time. Prepare risk assessment spreadsheets and act on critical risk information first. 
    • Aggregation and Analysis: Correlate and analyze multiple data sources to find the complete context behind risk information. Categorize risks by datasets like historic risk ratings, risk owners, pillars and more. 
    • Risk Prioritization: Prioritize critical risk throughout the environment with key risk indicator (KRI) information. 
    • Risk Reporting: Create up-to-date risk reports with data visualization options. Combine information from KRIs and risk owners with heat maps, graphs and scatter and bubble charts to prepare reports on enterprise risk. 
  • Internal Audit Management: Streamline the auditing process with custom templates and automated evidence gathering, certification, reporting and planning tools. Access relevant data, manage audits and follow up on tasks. 
    • Audit Analytics: Automatically populate audit reports in a no-code environment to highlight any exceptions. 
    • Templates: Process audits faster with over 3,000 purpose-built AuditNet templates. 
    • Audit Reporting: Increase stakeholder and audit committee engagement with personalized audit reports. Tailor reports accordingly by elaborating on specific details. 
    • Follow Up: Automatically drill down into complicated reports to elaborate on observations and recommended courses of action. 
  • Policy and Procedure Management: Manage policies and procedures across the entire organization. Maintain an up-to-date inventory of auditable policies and procedures. 
    • Policy Indexes: Correlate policies with regulations, controls, processes and risks to create an interconnected and centralized master index. Standardize policies with templates and automatically update changes. 
    • Review Permissions: Review and edit documents directly from the platform. Streamline the review process with automated assessments and audits. 
    • Document History: Track all edits to policy documents with full version history. Send documents for bulk approval and leave comments and reviews within the content. 
    • Attestation Tracking: Track policy status, link current document versions and schedule deadlines. Sign and approve policies from any device and export records for auditing purposes. 
  • Internal Controls: Improve the visibility and security of risk information with internal controls. Allow risk and control owners to make updates with full transparency. 
    • Documentation: Implement role-based permissions to control access to information. Review, edit and update files in their native formats with the Microsoft Office 365 integration. Instantly visualize updates by linking data fields to narratives and flowcharts. 
    • Testing: Perform random sampling tests with single or bulk tasks. Monitor test progress, attach samples and communicate results from the dashboard. Automatically corroborate evidence and track response. 
    • Reporting: Run convenient and tailored reports for data fields including issues tracking, COSO mapping, status reporting and more. Deliver accurate risk information to senior management, business partners and stakeholders. 
    • Certification: Leverage letter templates, customizable certificates and reminders to establish an efficient certification process. Sign and approve certificates from any device with an internet connection. 
  • FERC Reporting: Meet the Federal Energy Regulatory Commission’s (FERC) standards with accurate and prompt XBRL tagging. Work on connected datasets in real time to eliminate errors. Supported forms include electric (Form No. 1, 1-F, 3-Q, 714), gas (Form No. 2, 2A, 3Q), oil (Form No. 6, 6-Q) and service companies (Form No. 60). 
  • SEC Reporting: Streamline the preparation and filing of proxy statements, tax disclosures, 10-Qs, 10-Ks, 8-Ks, 20-Fs, Section 16 and more. Comply with European regulations like Solvency II, CIPC, IFRS and more. Link datasets to narratives and consolidate both structured and unstructured information with EDGAR and XBRL services. 
  • Capital Market Transactions: Implement a greater degree of control over debt, equity, IPO and M&A deals. Prepare documentation for capital market transactions, mergers, acquisitions, debt-offerings and take-private deals with preconfigured workflows. 
    • Speed and Accuracy: Link numbers and texts across multiple files to process transactional documentation faster. Streamline the evaluation process by automatically creating review, sign-off and commentary tasks within documents and reports. 
    • Risk Reduction: Eliminate inconsistent numbers, version inaccuracy and certification errors with a single consolidated data source. Maintain accountability, security and transparency with complete version history and permission-based access. 

    • Limitations

    At the time of this review, these are the limitations according to user feedback:

    •  Users located outside the US can experience latency issues in the SOX module. 
    •  The NextGen platform has a few incomplete features and bugs. 
    •  Involves a steep learning curve. 
    •  High subscription charges. 

    Suite Support

    Visit the vendor’s support center to learn more about using the platform; online resources include patch notes, beginner’s guides, articles, hot topics and transition assets. The community forum hosts discussions, events, webinars and feedback.

    mail_outlineEmail: [email protected].
    phonePhone: (800) 706-6526. Additional phone numbers for customers in other regions are available on the vendor’s website.
    schoolTraining: Log in to the vendor’s website to access the Learning Hub. Online training is available in the form of guided courses, videos, newsletters and simulations.
    local_offerTickets: Visit the vendor’s website to submit a support ticket.
Resolver
Resolver
Start Price
$10,000
Annually
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Resolver

Resolver provides enterprise risk management, incident management, and security and investigation modules in a stable and easy-to-use package. It offers a high degree of flexibility and customizability to ensure seamless scaling with changes and requirements. The ability to create custom reports further adds to its price to performance value. However, the platform’s lengthy implementation process can negatively impact time to market.

All things considered, Resolver offers excellent functionalities for this price range as long as you don’t have to compromise on integration options important to your business.

Pros & Cons

  • Functionality: The solution offers multiple features for governance, risk and compliance management, according to 88% of users who reviewed this aspect.
  • Ease of Use: According to 72% of users reviewing this element, the platform’s intuitive UI and customizability make it easy to use.
  • Speed and Performance: 67% of users who mentioned the platform’s performance said it’s fast and reliable.
  • Reporting: Regarding this feature, 75% of reviewers expressed satisfaction with flexible and highly customizable reports.
  • Service and Support: 89% of users who reviewed the customer support said it’s friendly and useful with great incident management skills.
  • Integrations: The platform needs wider and better integration options, according to 100% of users who reviewed this aspect.
  • Implementation and Setup: All the users who mentioned this element said the implementation process is time-consuming.

Key Features

  • Incident Management: Simplify the organization’s incident reporting process. Automate incident remediation with artificial intelligence. Track root causes, location, trends and charts to prevent future occurrences. 
    • Intelligent Triage: Leverage artificial intelligence algorithms to tag corporate incidents and prioritize remediation. 
    • Customization: Create, customize and define data fields, forms and workflows in a low-code environment. 
    • Geo-Mapping: Track specific elements within incident reports to create a geo-map and visualize possible connections and associations. 
    • Data Warehouse, Analytics & Reporting: Run reports on investigative efficiency, incident volumes, high-risk assets and more. Analyze the organization’s data to generate predictive models. 
  • Investigation Management: Drill down into investigation reports to link evidence, narratives, losses, incident properties, persons of interest, logs, attachments, recoveries and more. Get a holistic view of the organization’s security risks. 
    • Integrate with Incident Management: Interact directly with the incident management module to supply context for investigations. 
    • Automation: Streamline the investigation process with custom workflows. Automate incident reporting, investigation, approval and triage. 
    • Data Collection: Provide context to investigations with incident-specific data on locations, assets, individuals and more. Collect evidence with an unbroken chain of custody. 
    • Investigation Insights: Get detailed insights on performance metrics including unresolved investigations, expenses, time per investigation and more. Improve future investigations with reports on failed controls and gaps in remediation. 
    • Management and Resolution: Find connections between related incidents with forensic data analysis. Group related incidents and investigations together to streamline case management. 
  • Risk Management: Optimize enterprise security risk management with integrated incident reporting capabilities. Perform audits securely and analyze audit scores. Prepare effective security policies and automate submission, approval and remediation processes. 
    • Location-Based Asset Planning: Prepare custom controls and security measures tailored to protect critical assets present in different locations. 
    • Track Assets & Risks: Create an inventory, track actual and perceived values and identify critical assets. Maintain a real-time risk register with incident metrics and live KPIs to predict future risks. 
    • Manage Corrective Actions: Monitor issues from identification to remediation, all from the same platform. 
    • Risk Prioritization: Maximize return on investment with automated risk prioritization. 
    • Data Storage: Create and keep track of all security incidents in a central database. 
Building Engines
Building Engines
Company Size
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Deployment
Cloud On-Premise
Platform
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Key Features

  • Work Orders: Track all existing and pending work orders. Manage deliveries, employee workloads, pickups and order prioritization directly from the dashboard. 
    • Delivery Feedback: Automatically request and log tenant feedback for service deliveries. 
    • Visibility: Allow tenants and engineers to have complete visibility over business processes; including status updates, comments, pictures and labor and material costs. 
    • Billing: Directly bill tenants for all labor and material costs. 
  • Space Management: Manage the organization’s spatial requirements with stackable floor plans. Allow engineers to share floorplans, pins, equipment locations and asset inventory. Improve agent collaboration to process deals and multiple scenarios faster. 
    • Floor Plan Library: Maintain a cloud-based centralized floor plan library. Provide self-updating tools to manage master drawing and what-if scenarios. 
    • Key Asset Annotation: Mark and annotate critical equipment on the floor plan. Automatically update key asset information in the central library. 
    • Work Order Pins: Track work orders by marking multiple locations on the floor plan with pins. Decrease operating expenses and improve tenant relations with faster resolution. 
  • Preventive Maintenance: Set up standard preventive maintenance tasks across the organization. Prepare custom schedules and procedures for different asset classes. Automate all maintenance-related paperwork. Monitor equipment health with preconfigured tolerance levels for meter readings. Maintain detailed maintenance history and service records for each individual asset. Attach photos, notes, pictures and instructions to tasks for more granular details. 
  • Real-Time Access: Provide real-time access to floor plans, diagrams, scenarios and procedures from the same dashboard. Visualize square footage spillage by building, floor and tenant and comply with Building Measurement Standards. 
    • Space Management: Encourage collaboration across managers, brokers and landlords with end-to-end portfolio management. Manage rentable square footage (RSF), vacancy and revenue from the same dashboard. 
    • Digital Interface: Track accounts, scenarios and tenant activities with interactive floor plans, dynamic stacks and drawing capabilities. 
    • Data Connections: Connect the organization’s accounting information with floor plans, EAP/FPP documents, leasing documents and marketing plans. 
  • Communications Management: Streamline communication with tenants via phone, email and Slack. Prepare tailored messages via preconfigured templates and clone texts. Add images, notes and other relevant content with simple drag-and-drop functionality. 
    • Bengie: Create multiple channels and custom contact groups with Bengie, the virtual assistant. Provide tenants with multiple options for communication channels. 
  • Visitor Access: Improve tenant security standards with automated visitor registration, check-in and data entry. Allow building security to have complete visibility over visitation. Tenants can use the Visitor Access module to register visitors over multiple devices. Attach names and photos to visitor entries for greater security. Directly interacts with building access control systems. Ensure occupant security with greater collaboration between the two domains. 
  • Insurance: Identify and mitigate tenant risk and compliance with the in-house Prism Insurance extension. Manage third-party risk, COI requirements and insurance certificates directly from the dashboard. Automatically declare subrogation waivers and update critical insurance information like additional insureds. 
  • Self-Service Resources: Simplify daily activities with multiple self-service resources. Tenants can access the online service portal to reserve common areas, request amenities and register visitors. Building administrators can create billables, track time and automatically approve tenant requests. 
    • Interactive Calendar: Track the availability, cost, description and images of shared resources via the interactive calendar. 
    • Enforceable Management Policies: Provide tenants with preconfigured request forms following the organization’s cancellation rules, policies and reservations. 
  • Inspections: Perform preventive inspections across all the organization’s properties. Allow inspection teams to track status updates, upload photo attachments and include completion percentages and professional summaries. Leverage custom templates to standardize the inspection process. 
    • Mobile Inspection: Perform inspections in offline mode without losing any data. 
    • Historical Data: Benchmark current performance, work orders, historical details and inspection statuses against previous inspection records. 
  • HVAC Management: Maintain complete visibility over HVAC inventory including details like make, model, service records, life expectancy, tonnage, warranty and more. Run automated reports to comply with triple-net lease obligations and maintenance regulations. Prepare the annual budget based on assets’ service records. 
    • HVAC Vendor Network: Request procurement, maintenance and repair of HVAC equipment via the vendor network. 
    • Capital Asset Reporting: Integrate ASHRAE life expectancy scores with the organization’s asset service records. Track tenant compliance for all building-related service commitments. 
  • Bid Management: Automate vendor approval, communication and follow up with the Comparative Matrix tool and RFP templates. Automatically maintain vendor records, correspondence and bids. 
  • Mobile App: Allow tenants, building administrators and engineers to perform a full range of activities through the Prism Mobile application. 
MasterControl
MasterControl
Company Size
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Deployment
Cloud On-Premise
Platform
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Key Features

  • Risk Tolerance Thresholds: Set up custom risk tolerance levels or use standard organizational thresholds when monitoring enterprise risk. 
  • Automated Systems: Administrators can automate the review and approval of enterprise and third-party risks. Process risks faster with preconfigured workflows and e-signatures. 
  • Risk Assessment: Initiate risk assessment procedures for multiple activities and operations. Create individual analysis profiles for different categories of risk. 
  • Reporting Tools: Get detailed insights on operational risks, third-party risks and assessment reports with robust reporting tools and intelligent threshold rules. 
  • Risk Analysis: Mitigate system vulnerabilities, long-term product risks and exploitative processes with intelligent risk analysis. 
  • Connected Processes: Monitor risk assessment and remediation across multiple domains and departments from the same system. 
Secureframe
Secureframe
Start Price
$2,000
Annually
Company Size
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Deployment
Cloud On-Premise
Platform
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Pros & Cons

  • User-Friendly Interface: Secureframe is recognized for its intuitive and easy-to-navigate platform, making compliance management less daunting for users.
  • Comprehensive Compliance Solutions: Secureframe offers a wide array of compliance solutions, covering various standards like SOC 2, ISO 27001, HIPAA, and PCI DSS, catering to diverse business needs.
  • Efficient Automation: Secureframe automates numerous compliance tasks, such as evidence collection, policy management, and vendor assessments, freeing up valuable time and resources for businesses.
  • Accelerated Compliance Timeline: Secureframe helps businesses achieve compliance significantly faster, often reducing the time required from months to weeks, enabling them to meet deadlines and unlock opportunities more rapidly.
  • Expert Support: Secureframe provides access to a team of compliance experts who offer personalized guidance and support throughout the compliance journey, ensuring businesses have the assistance they need.
  • Cost: Secureframe can be expensive, especially for smaller businesses with limited budgets.
  • AI Maturity: Some users have reported that the AI-powered features are still under development and may not be completely reliable.

Key Features

  • Automated Evidence Collection: Secureframe streamlines compliance by automatically gathering evidence from over 100 integrations, reducing manual effort and human error.
  • Continuous Monitoring: The platform provides real-time monitoring of your security posture, ensuring that compliance is maintained consistently over time.
  • Customizable Policies: Users can tailor security policies to fit their specific organizational needs, ensuring alignment with internal processes and industry standards.
  • Risk Assessment Tools: Secureframe offers comprehensive tools to identify, evaluate, and mitigate risks, helping organizations prioritize their security efforts effectively.
  • Audit-Ready Reports: Generate detailed reports that are ready for auditor review, simplifying the audit process and ensuring transparency.
  • Vendor Management: Manage third-party risk by assessing and monitoring vendor compliance, ensuring that your partners adhere to your security standards.
  • Task Management: Assign and track compliance-related tasks within the platform, enhancing collaboration and accountability across teams.
  • Framework Support: Secureframe supports multiple compliance frameworks such as SOC 2, ISO 27001, and GDPR, allowing organizations to manage various requirements in one place.
  • User-Friendly Dashboard: The intuitive dashboard provides a clear overview of compliance status, making it easy for users to navigate and understand their security posture.
  • Expert Guidance: Access to compliance experts who provide insights and recommendations, helping organizations navigate complex regulatory landscapes.
  • Integration Capabilities: Seamlessly integrate with popular tools like AWS, Google Cloud, and Slack to enhance functionality and streamline workflows.
  • Data Encryption: Secureframe ensures data protection through robust encryption methods, safeguarding sensitive information from unauthorized access.
  • Incident Response Planning: Develop and manage incident response plans within the platform to ensure preparedness and swift action in case of security breaches.
  • Scalability: Designed to grow with your organization, Secureframe can accommodate increasing compliance needs as your business expands.
  • Role-Based Access Control: Implement granular access controls to ensure that only authorized personnel can access sensitive compliance data.
NAVEX Global
NAVEX Global
Start Price
$2,600
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked NAVEX Global

Navex Global offers integrated risk management solutions for all business sectors. The EthicsPoint reporting hotline makes it the gold standard for ethics and compliance solutions. On top of that, it has an impressive knowledge base. Its reliable uptime provides real-time access to all your data.

However, the customer service is unflattering. Subscription charges are expensive, and contract negotiations are long and difficult. Navex Global makes sense as an acquisition if you need an ethics and compliance management solution, but better risk management systems are available with a superior price to performance ratio.

Pros & Cons

  • Functionality: All the users who reviewed this aspect were satisfied with the platform’s functionalities, especially the EthicsPoint reporting hotline.
  • Ease of Use: According to 63% of users who reviewed this element, the system's intuitive UI makes it easy to navigate.
  • Performance: 71% of reviewers mentioning this aspect expressed satisfaction with the platform’s performance and uptime.
  • Training Resources: Regarding this feature, 92% of reviewers said that the training material has high-quality content.
  • Data Management: 80% of users who reviewed this feature were pleased with data management capabilities, particularly data organization, storage and search functions.
  • Service and Support: Customer support is rigid, unfriendly and unprofessional, according to 85% of reviewers talking about this element.
  • Cost: 100% of users who mentioned this aspect said the licensing charges are unflinchingly high.

Key Features

  • IT Risk Management: Maintain a complete inventory of all IT assets. Get contextual insights into IT risks, exploits and vulnerabilities. Prioritize investigation and triage responses based on estimated impact on business processes. 
    • Monitor Performance: Use the dashboard to track daily activities and risk assessment programs. Monitor program performance based on KPIs and KRIs. 
    • Streamlined Data: Categorize all internal and external data into actionable information. Automatically consolidate, correlate and deduplicate data to improve threat response rate. 
    • Business Protection: Implement best practice strategies to predict and debilitate future breaches. Analyze the impact of disruptions on different departments and create recovery plans to ensure continuity. 
    • Constant Security: Monitor risks in real time with continuous evaluation of risk profiles, strategies, compliance posture, remediation processes and obligations. 
    • Compliance: Use the compliance program to continuously check for changes in contractual obligations, certification laws, industry standards and regulatory requirements. Automate data entry for all compliance-related activities. 
  • Health and Safety: Address health and safety concerns with a compliance program designed to follow multiple regulations. Catalog all work-related incidents to process reports faster and mitigate the risk of future occurrences. Improve visibility into hazardous incidents by collaborating across various departments and units. 
  • Third-Party Risk Management: Maintain complete visibility over third-party risks by centralizing vendor information and risk assessment data. Automate risk investigation and remediation with preconfigured frameworks and controls. 
    • Third-Party Compliance: Prepare and issue policies for third parties. Check vendor compliance posture with regular tests. 
  • Business Continuity Management: Test key assets to study the impact of potential disruptions and breaches on business continuity. Benchmark the effectiveness of preventive programs and scan the system for disruptive changes. 
    • Templates: Streamline the organization’s resilience and recovery program with best-practice templates and contextual reports. 
  • Privacy, Risk and Compliance Management: Create a privacy program to identify and manage compliance requirements like CCPA, HIPAA, GLBA and more. Safeguard client data with time-tested security frameworks and policies. 
    • Privacy Objectives: Clearly define the organization’s data privacy standards. Track data processing activities and analyze the potential impact of privacy breaches. 
  • Operational Risk Management: Ensure continuity of operations with a contextual understanding of business processes. Get a 360-degree view of enterprise risk with the centralization of all regulatory information and risk data. Monitor for changes in the risk and compliance environment and adapt the risk profile accordingly. 
Origami Risk
Origami Risk
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Why We Picked Origami Risk

Unfold the possibilities of risk management with Origami Risk: This software is like a Swiss Army knife for risk professionals, offering a comprehensive suite of tools to tackle even the most complex challenges. Users rave about its ease of use, highlighting the intuitive interface and streamlined workflows that make it a breeze to navigate. Origami Risk's flexibility is another major plus, allowing businesses to customize the platform to fit their specific needs like a glove. From risk assessment and mitigation to claims administration and reporting, it covers all the bases, leaving no stone unturned.

However, no software is perfect, and Origami Risk has its quirks. Some users find the price tag a bit steep, especially for smaller businesses. Integration with other systems can also be a bit clunky at times, requiring some extra effort to get everything playing nicely together. Despite these minor drawbacks, Origami Risk remains a top choice for organizations seeking a robust and user-friendly risk management solution. Its ability to streamline processes, improve data-driven decision-making, and enhance collaboration across departments makes it a valuable asset for businesses of all sizes. Whether you're a seasoned risk pro or just starting out, Origami Risk can help you fold risk management into a work of art.

Pros & Cons

  • Highly Configurable: Origami Risk offers extensive customization options, allowing users to tailor the platform to their specific workflows and risk management requirements. This adaptability ensures a good fit for diverse organizational needs.
  • User-Friendly Interface: The platform's intuitive design and navigation make it easy for users to access and manage risk-related data efficiently. This user-friendliness contributes to a positive user experience and streamlines risk management processes.
  • Comprehensive Reporting: Origami Risk provides robust reporting capabilities, enabling users to generate insightful reports and analytics on risk data. These reports facilitate informed decision-making and support effective risk mitigation strategies.
  • Strong Data Security: The platform prioritizes data security with advanced features such as encryption and access controls. This focus on security ensures the confidentiality and integrity of sensitive risk information.
  • Steep Learning Curve: The platform's interface can be overwhelming for new users due to its extensive features and functionalities. Navigating through the various modules and understanding the underlying data structure often requires significant training and experience.
  • Customization Challenges: While Origami Risk offers a high degree of configurability, implementing custom workflows or reports can be complex and time-consuming. Organizations with unique risk management requirements may find it challenging to adapt the platform to their specific needs without extensive technical expertise or assistance from Origami's support team.
  • Performance Issues: Some users have reported performance issues, particularly when dealing with large datasets or complex reports. Slow loading times and system lags can hinder productivity and user experience, especially for organizations with high data volumes or concurrent users.

Key Features

  • Risk Management: Adopt a holistic view of enterprise risk by documenting and correlating data breaches, workplace incidents, exploitations, controls, regulations, processes and more. Automate risk alerts and choose from tried and tested remediation practices. Track KRIs and KPIs of critical business processes and follow up on potential threats. 
    • Multi-factor Scoring: Create customizable risk ratings and scores based on the organization’s preferences. Analyze incident and loss data to spot risk trends. 
    • Scalable Security: Automatically check for changes in risk profiles. Update remediation responses to safeguard against constantly evolving threats. 
    • Risk InsightsRisk Insights: Use the customizable dashboard to run reports when specific risk tolerance thresholds are reached. Drill deeper into risk reports to generate contextual data. 
  • Compliance Management: Ensure the organization complies with state and federal regulations like ISO 27001, GDPR, HIPAA, SOX, COBIT, COSO and more. Follow up on validation reports and configure custom compliance ratings. Issue automated alerts for changes in compliance posture. 
    • Insights: Run regular compliance audits and report results to all stakeholders. Create tasks to follow up on corrective activities. 
    • Integration: Connect frameworks, controls and regulations to risk ratings for contextual awareness of compliance obligations. 
  • Internal Controls: Create internal controls for operational, financial and IT assets. Automatically calculate control test scores and communicate results via notifications. 
  • Business Continuity: Gauge the impact of disruptions on business processes. Prepare, test and execute continuity plans for all organizational operations, departments, locations and more. 
  • Internal Audit: Standardize internal audits with custom templates. Follow up on active audits, work papers, findings and recommendations. Integrate audits with risks, regulations and controls and automate report generation. 
  • Dashboards and Reporting: Choose from a variety of widgets and reporting templates. Categorize risks by location, framework or business unit and implement role-based dashboard access permissions. 
LogicGate
LogicGate
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Why We Picked LogicGate

LogicGate's Risk Cloud platform has attracted attention for its ability to streamline risk management processes. Users frequently highlight its user-friendly interface and intuitive design, making it accessible even for individuals without extensive risk management experience. The platform's flexibility allows it to adapt to various risk types, including operational, financial, and compliance risks, making it a versatile solution for diverse organizations. Additionally, LogicGate's automation capabilities, such as automated risk assessments and control evidence collection, save time and effort for risk management teams.

While LogicGate receives praise for its strengths, some users note areas for improvement. Some users mention that the platform's reporting features could be more robust, offering greater customization and data visualization options. Additionally, while LogicGate integrates with various third-party tools, expanding its integration ecosystem could further enhance its value proposition. Despite these considerations, LogicGate remains a strong contender in the risk management software market.

LogicGate distinguishes itself through its no-code approach, empowering users to build custom workflows and applications without requiring coding expertise. This feature democratizes risk management, enabling broader participation from various departments within an organization. Furthermore, LogicGate's graph database technology facilitates the identification of complex relationships between risks and controls, providing a holistic view of an organization's risk landscape. This comprehensive approach aids in informed decision-making and proactive risk mitigation.

LogicGate is well-suited for organizations seeking a user-friendly and comprehensive risk management solution. Its adaptability to different risk types and its automation capabilities make it valuable for businesses of all sizes. Organizations with limited IT resources or those looking to empower non-technical users in risk management processes will particularly benefit from LogicGate's no-code platform. However, organizations requiring highly customized reporting or extensive integrations with niche tools may need to consider additional solutions or customizations to fully meet their needs.

Pros & Cons

  • No-Code Platform: Users appreciate the platform's user-friendly, no-code approach, which allows those without coding experience to easily build and customize workflows, forms, and reports. This empowers business users to take ownership of risk management processes without relying on IT support.
  • Flexibility and Customization: LogicGate's flexibility allows users to tailor the platform to their specific needs. Users can create custom objects, fields, and relationships to model their unique risk and compliance requirements. This adaptability ensures the platform can evolve alongside changing business needs.
  • Integrations: LogicGate offers integrations with various third-party applications, such as GRC platforms, single sign-on providers, and data visualization tools. These integrations enable users to connect LogicGate with their existing technology stack, streamlining data flow and enhancing overall efficiency.
  • Scalability: The platform is designed to scale with organizations as they grow. Whether managing a small team or a large enterprise, LogicGate can accommodate increasing data volumes and user numbers without compromising performance.
  • Steep Learning Curve: The platform's interface can be challenging for new users due to its complexity and lack of intuitive design, leading to a longer onboarding process and potential frustration.
  • Customization Limitations: LogicGate may not offer the level of customization required by some organizations with unique risk management workflows or reporting needs, potentially hindering their ability to tailor the platform to their specific requirements.
  • Reporting Challenges: Generating reports can be cumbersome, and the available reporting features may not provide the flexibility and depth of analysis needed for comprehensive risk assessments and decision-making.

Key Features

  • Enterprise Risk Management: Continuously monitor critical processes for any sign of vulnerability. Perform customizable calculations to predict the potential impact of a disaster. 
    • Workstreams: Set up automation-driven workflows for document collections, notifications, deadline-triggered requests and transparent tracking. 
    • Assessments: Stakeholders can assess the risk register across multiple business domains. Use assessment data to prepare effective mitigation strategies. 
    • Questionnaires: Prepare dynamic questionnaires to process data from interview and survey inputs. 
    • Risk Alignment: Convert assessment data into task items with deadlines and notifications and assign them to individual risk owners. Track the status of ongoing remediation activities and send alerts to related stakeholders. 
    • Visual Data: Run custom analytics and reporting for a real-time heat map of critical risks across the program. 
  • COSO Framework: Integrate the Committee of Sponsoring Organizations (COSO) framework guidance on risk strategy and performance. Automatically calculate risk scores and perform risk assessments based on enterprise and operational risks, impact, likelihood, and vulnerability rubrics. 
    • Centralized Tracking: Eliminate information silos and track logged risks and remediation measures from a centrally accessible location. Run built-in reports with complete transparency. 
    • Analytics: Study the relationship between the organization’s operational and functional level goals and available risk scores. Notify risk owners of pending tasks and deadlines. 
  • Issues Management: Prioritize issue mitigation based on automatically calculated issue urgency scores and track progress with built-in reporting and dashboard. Send in-app and email notifications to keep risk owners informed. 
    • GRC Initiatives: Track and manage issues, remediation strategies and risk ownership via one central location. 
    • Visibility: Get granular details on logged issues and mitigation responses with out-of-the-box reporting and status reports. 
  • Regulations: Leverage a regulatory inventory index to define regulatory categories. Run compliance assessments to identify potential non-compliance risks and sanctions. Create plans to incorporate regulatory changes and assign task ownership to relevant personnel. 
    • Tracking: Use the corrective action plan (CAP) module to solve existing issues, track previous violations and minimize negative publicity. 
    • Regulation Partnership: Partner with Ascent to track compliance using AI. Get access to over 125 regulators, gain insights from new markets, products, industries and regions, and identify coverage gaps. Available regulators include SEC, FDIC, OCC, FINRA, CFTC, FinCEN and more. 
    • Obligations: Use AI to identify important obligations. Automatically update regulators and get granular data on all obligations, including laws and standards. 
  • IT Security: Protect IT assets and infosec risk processes with effective controls in compliance with industry standards. 
    • ISO 27005: Track risks in the framework with content designed for ISO/IEC 27005:2018(E)’s information security risk management process. Identify, assess and mitigate risks and record all vulnerabilities in a secure database. Calculate risk scores of assets with NIST 800-206 guidance following ISO 27005 recommendations. 
    • Real-Time Protection:  Continuously update residual risk reports, assessments and controls testing activities. Assign risk tolerance thresholds and automatically administer mitigation measures on crossing over. Eliminate ineffective controls and processes. 
    • Evaluation: Evaluate critical procedures for vulnerabilities. Use a flexible data model to record elements and identify threat actors and events. Follow up on evaluations with reports and remediation plans. 
    • Controls Register: Prepare a custom risk assessment methodology with personalized controls and rules. Apply appropriate control frameworks, including ISO 27002, NIST 800-53 and NIST CSF. 
    • Vulnerability Management: Prioritize mitigation of vulnerabilities with the most impact on critical business processes. Keep a record of essential assets, assessments, vulnerabilities and treatments with built-in workflows. Run reports to map the company’s vulnerability status and import records from Risk Cloud Tenable.io integration, third-party integrations or CSV files. 
  • Third-Party Risk Management: Access templates and applications to manage relationships from the same portal. 
    • ISO 27001: Map relationships with third-party vendors with pre-built questionnaires aligned with Annex A information security requirements framework. Record proprietary data, financial information, intellectual property and employee details according to ISO/IEC 2700 family of standards. 
    • SIG Lite: Optimize vendor relationships with a questionnaire created by Risk Cloud’s third-party risk management SIG Lite app. Quickly verify all incoming vendor information, automate daily tasks and collect vendor responses for maximum visibility. Get significant insights into third-party relationships with 329 questions covering 18 domains. 
    • Procurement and Contract Management: Monitor service level agreements (SLAs) and vendor contracts and schedule due diligence on all associations. Send automated notifications for key events and maintain a central database of vendor data, including billing information, contract details, SLAs and payment terms. 
    • Compromise Assessment: Measure the impact of third-party vulnerabilities to manage risks. Use automated workflows and templates to initiate impact assessments, link vulnerabilities and register information for complete visibility into vendor relationships. 
  • Audit Controls Management: Use comprehensive reports and automated workflows to track audits and control processes. Assess internal controls and policies against AICPA’s five Trust Services Criteria and obtain SOC 2 compliance. The platform is HITRUST approved and includes SOX compliant financial reports. Run CMMC compliant self-assessments. Audit management frameworks include PCI DSS, FedRAMP, HIPAA, FFIEC CAT, NIST 800-171 and more. 
    • Controls Management: Set up automated control assessments at custom intervals. Run real-time auto-generated reports and link controls to the Risk Cloud Controls repository. 
    • Audit Management: Regulate the internal audit process with audit-control testing, reporting and due date reminders. Create and execute a centralized Audit Universe and plan for the entire company. Maintain a central evidence database and prepare in advance for external audits. 
  • Compliance: Provides clearly defined regulatory categories and an inventory index. Automatically assign ownership, stay up-to-date on laws and perform risk assessments to identify potential non-compliance penalties. Implement and collaborate on corrective action plans. 
    • Employee Compliance: Maintain a centralized inventory of employee information and policy acknowledgments. Schedule automated reminders and due date alerts for policies. Automatically assign policy acknowledgments and certification requests and get status updates. Create customized workflows to keep up with training requirements and policy attestations. 
  • Policy Management: Leverage process automation to request, write, approve and update policies, eliminate duplicate policies, and set up reminders. Centralize the policy administration system to directly link policies and procedures and eliminate information silos. Create hierarchical maps connecting risks, regulations and business units. 
  • Incident Management: Build a single incident repository to respond faster and standardize the incident playbook. Automate processes with conditional workflow logic and custom rules handling, alerts and activity routing. Identify vulnerabilities, bottlenecks and compliance failures by auditing incident management procedures. 
  • Privacy: Stay compliant with consumer privacy laws, including GDPR and CCPA. 
  • Business Continuity: Carefully document and execute crisis response tasks in the event of a major crisis or disaster. Set up workflows to identify and safeguard crucial processes and physical, intellectual and financial assets. 
    • Disaster Response Resource Repository: Create a standardized repository of instructions and procedures for reference in an emergency. Store important company information such as asset locations, processes, passwords and business functions in a centrally accessible database. 
  • Security: Encrypt all end-user data both during transit and at rest using best-practice services. Provides fine-grained access controls and Single Sign-On (SSO) delivered via SAML 2.0. Protect the entire infrastructure with firewalls. 
  • Integration: Integrate with third-party apps via a secure RESTful API. Application Programming Interface requires OAUTH 2.0 authentication. 

COMPARE THE BEST GRC Software

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SelectHub’s Analyst Rating is based on data from our 400+ point analysis of GRC Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
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Vanta
$10,000
Annually
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Vanta
Qualys
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Qualys
Workiva
Undisclosed
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Workiva
Resolver
$10,000
Annually
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Resolver
Building Engines
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Building Engines
MasterControl
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
MasterControl
Secureframe
$2,000
Annually
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Secureframe
NAVEX Global
$2,600
Monthly
No
Small Medium Large
Cloud On-Premise
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NAVEX Global
Origami Risk
Undisclosed
No
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Cloud On-Premise
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Origami Risk
LogicGate
Undisclosed
No
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LogicGate

All GRC Software (36 found)

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Vanta

by Vanta
Vanta
Vanta offers a sophisticated software solution designed to streamline Trust Management and related tasks. It is particularly well-suited for industries that prioritize security and compliance, such as technology, finance, and healthcare. The platform's unique benefits include its ability to automate compliance processes, thereby reducing manual effort and minimizing human error. Users appreciate its powerful features, such as real-time monitoring and comprehensive reporting capabilities, which enhance transparency and accountability. Compared to similar products, Vanta is often praised for its user-friendly interface and robust support system, making it a preferred choice for businesses seeking efficient compliance management. While specific pricing details are not readily available, it is advisable for potential users to contact SelectHub for a tailored pricing quote that aligns with their specific requirements. Vanta stands out for its ability to adapt to various organizational needs, offering a reliable and effective solution for managing trust and compliance.
Cost Breakdown
$1,000 or more
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Qualys

by Qualys, Inc.
Qualys
The Qualys Cloud Platform integrates IT, security and compliance into one vulnerability management solution. It provides organizations with global continuous, end-to-end threat detection in real time. A constant, system-wide analysis of every connected device’s security and compliance status allows it to prevent, detect, and immediately respond to threats whenever required. Comes with advanced security data indexing that allows for almost instantaneous finding and quarantining of compromised data. Provides users with a customizable and dynamic dashboard that can monitor the IT, security and compliance conditions of the entire environment in one workspace. Having all-in-one infrastructure security, web app security, cloud security and endpoint security allow organizations to synchronize all teams. The built-in threat prioritization and automated response modules for all categorized system assets provide comprehensive security.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$500 - $1,000
Company Size
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Workiva

by Workiva
Workiva
Workiva is a cloud-based reporting platform that globally connects an organization’s workforce with its data sets and data sources. It combines all user data under a single digital roof to remove any errors and ensure complete transparency. Provides automatic and secure scheduling of repetitive tasks and recycles redundant data and reports into functional assets. It allows users to visualize data relating to ERP, consolidation, compliance, security, budgeting and more by connecting everything under one secure reporting module. A live-updating dashboard with a code-free interface allows for easy analysis and data reporting. It auto-updates linked cross-organizational data for a seamless reporting experience.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
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Resolver

by Resolver Inc.
Resolver
Resolver provides organizations with a single enterprise solution to manage corporate security, system governance, information security, governance, risk and compliance. Its dynamic approach to individual user requirements makes data transformation and sharing more accessible and efficient. Allows users to access all the data securely within a single interface for better reporting and analytics. Features automated system-wide investigation, response and reports on vulnerabilities and data breaches to provide complete security.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
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Building Engines

by Building Engines
Building Engines
Building Engines is a platform to manage commercial real estate (CRE) building operations. It connects all CRE tech stack elements under a single, open, user-friendly interface. Provides modules to manage building communications, work orders, preventive maintenance, space allocation, insurance, HVAC status, inspection, and more to help real estate managers maximize revenue and profitability while maintaining tenant satisfaction. Provides real-time analysis and reporting of security and compliance through every point of building operations. Organizations can use it to automate day-to-day operations and pinpoint critical improvement areas. Tenants can access it to utilize tenant services like broadcast messaging and vendor contact information.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 or less
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MasterControl

by MasterControl
MasterControl
MasterControl is a cloud-based platform that supervises an organization’s security, compliance and quality standards. It brings all clinical data under one roof to comprehensively analyze and correct data breaches, consumer complaints, production deficits and quality deviations. Provides automated and user-friendly methods to manage different phases throughout the product development life cycle. Users can access the complete set of integrated modules to manage documentation, application, audits and suppliers. Automated training modules educate new users while the Corrective and Protective Actions (CAPA) module handles threat response protocols.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
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Secureframe

by Secureframe
Secureframe
Secureframe offers a comprehensive software solution designed to streamline Governance, Risk, and Compliance (GRC) management. It is particularly well-suited for businesses in industries such as technology, finance, and healthcare, where regulatory compliance is critical. The platform automates compliance workflows, reducing the time and effort required to achieve and maintain certifications like SOC 2, ISO 27001, and HIPAA. Users benefit from its intuitive interface, which simplifies complex compliance processes and provides real-time insights into risk management. Secureframe's standout features include continuous monitoring, automated evidence collection, and seamless integration with existing tools, enhancing operational efficiency. Compared to similar products, users often praise its user-friendly design and robust support. Pricing details are not publicly disclosed, so potential customers are encouraged to contact SelectHub for a personalized quote. Secureframe's unique ability to adapt to various compliance frameworks makes it a valuable asset for organizations aiming to fortify their security posture.
Cost Breakdown
$1,000 or more
Company Size
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Deployment
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NAVEX Global

by NAVEX Global
NAVEX Global
Navex Global provides integrated security and compliance management solutions that handle a full range of risk assessments and response protocols. Its reporting and analysis modules track people risk, regulatory risk, business risk and environment, social and governance (ESG) risk. Feedback-driven reporting increases the visibility of opportunities and achievements. Automatically secures users against data breaches, workplace hazards, vendor compliance failures, production disruptions, regulation compliance failures and more with its highly configurable interface. It compares resource, third-party, performance and corporate data to generate sustainability reports. Provides legally vetted compliance, cybersecurity and ethical training for employees.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$1,000 or more
Company Size
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Deployment
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Platform
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Origami Risk

by Origami Risk LLC
Origami Risk
Origami Risk provides organizations with highly configurable security, insurance, risk and compliance solutions under a single, cloud-based interface. It helps users manage Environment Health and Safety (EHS), P C Claims Administration, Governance, Risk and Compliance (GRC), Healthcare Risk Safety and more. Its reporting and analytics modules secure all data under one roof to optimize workflows and make data visualization simpler. It operates within Amazon Web Services and places all users on the same code to ensure scalability, reliability, system integrity and flexibility. Provides real-time data security through transit and at rest. Its cloud-based storage facility securely backs up data in a controlled environment.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$500 - $1,000
Company Size
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Deployment
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LogicGate

by LogicGate
LogicGate
LogicGate provides scalable GRC solutions and automates daily surveillance activities, verifications and test processes for an airtight risk posture. The Risk Cloud module puts together an end-to-end package of enterprise, IT and third-party risk, incident management, audit and controls, governance, compliance, and regulation management portals.It provides complete visibility over the entire process, from risk identification to mitigation. Create, test and assign controls to common issues and run automated audits. Stay compliant with state standards and data privacy regulations. The policy management offering simplifies understanding and adoption of company policies. Prepare contingency plans for potential disasters and be prepared for any crisis.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
Company Size
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Deployment
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Reval

by ION Group
Reval
Reval provides cloud treasury and risk management (TRM) solutions to help organizations manage cash and liquidity, hedge accounting and compliance, financial risk and bank connectivity. Its flexible dashboard and reporting and analytics modules allow users to share and visualize data across multiple banks, countries and currencies. Automated real-time data collection and analysis increases visibility and risk detection. It provides automated centralization of all financial data to recommend unique TRM configurations for individual users. Its hedge accounting module helps organizations keep up with local and global compliance, including ASC 815, ASC 820, ASC 820-10, IAS 39, IFRS 9, IFRS 7, IFRS 13 and more.
Cost Breakdown
$100 - $500
Company Size
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RSA Archer

by EMC (RSA Aveksa)
RSA Archer
RSA Archer provides enterprise solutions to manage governance, policies, deficiencies, risk and compliance. Its interface allows even entry-level users to integrate external technologies , explore a broad range of functions, automate business processes, streamline critical workflows and configure the interface for better data visualization, reporting and analytics. Organizations can automate task ownerships, escalate essential issues and control user access at various escalating levels. Supports on-premise deployment or a SaaS model with localized multilingual support for global use. It provides seamless data integration for collaboration across different teams and environments.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
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SmartLinx

by SmartLinx Solutions
SmartLinx
With a range of HR products, SmartLinx provides users with capabilities that can either function individually or integrate to work together as a full suite. By focusing on people management, it helps users to optimize workflows and boost workplace productivity and efficiency. Some of its capabilities include time and attendance, payroll and scheduling. It also offers reporting and analytics, giving users insight into their workforce’s productivity and performance.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 or less
Company Size
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Onspring

by Onspring Technologies
Onspring
Onspring is an end-to-end risk management software that integrates governance, risk and compliance, IT service management, business operations, and regulations and framework. It provides complete visibility into an organization’s risk, policies and compliance status. Built-in automation and workflows help optimize risk detection, remediation and prediction procedures. It saves a lot of time and money, both in terms of company resources and potential noncompliance penalties.The IT service management module provides visibility into IT activities and mitigates costs with strategic initiatives. The third-party risk management module offers real-time coverage of the supply chain.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
Company Size
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Assetworks

by AssetWorks
Assetworks
AssetWorks helps users manage assets like vehicles, buildings, infrastructure, facilities and more. Its offerings include management of fleets and fuel, enterprise risks and assets, surplus assets and more. It streamlines processes and improves operations through better facility staffing, machinery management and workflows. It helps users handle consumables, equipment and properties efficiently and cost-effectively. Leveraging multiple modules enable companies to improve ROI, promote data transparency and reduce operating costs.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
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Deployment
Cloud On-Premise
Platform
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Diligent

by Diligent
Diligent
Diligent is a cloud-based vulnerability management platform designed to meet modern-day security demands. Integrated risk management capabilities automate the entire process – from discovery and assessment to treatment and documentation. Cover as much ground as possible with clearly delineated risk owners. The governance reviews and flags any issues within a company’s corporate record for immediate remediation.The compliance management module offers workflows to check for conflicts, fraud, bribery and regulatory noncompliance. Comes with interactive dashboards for real-time updates on current compliance status. It includes an auditing program, internal audit controls, SOX reporting, and IT and performance auditing functionalities. Connect to any data source for complete visibility into related processes.
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Riskonnect

by Riskonnect Inc.
Riskonnect
Riskonnect is a cloud-based solution to manage enterprise risk, improve efficiency and boost performance. Its reporting and analytics modules integrate insurable and non-insurable risks to correlate their associations and prevent future occurrences. Users can automate routine processes, break down information silos, drive cross-platform collaboration and coordinate risk mitigation. Provides intuitive data visualizations to propel data-driven decisions and transformation.It compiles all data securely under one roof and provides detection, analysis and response modules against third-party risk, enterprise risk and health and safety risk. Users can monitor the administration of claims, handle legal and corporate compliance, and manage audits and healthcare from one interface.
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NICE Actimize

by Nice Actimize
NICE Actimize
NICE Actimize provides organizations with a single centralized view of enterprise risk to manage fraud, money laundering and compliance deviations. Users get real-time access to fraud prevention, anti-money laundering, and trade and market surveillance to boost operational efficiency. Its reporting and analysis modules correlate and consolidate the centralized data to provide customer lifecycle management. Its artificial intelligence generates actionable insights designed to streamline critical workflows, assign tasks, ensure oversight, lower compliance expenses and update regulatory guidelines.It uses AI and biometrics to screen parties and payments for global sanctions to secure international trade. Machine learning provides predictive models for understanding and detecting customer risk.
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CENTRL

by CENTRL
CENTRL
CENTRL is a cloud-based software that allows businesses to manage risk and meet compliance needs. It helps identify potential threats, develop and implement effective risk management strategies, and monitor and report suspicious activities.It offers a wide range of features, including customizable risk assessments, incident management, compliance tracking, and policy and procedure management. Organizations can handle risk and compliance effectively, improve operational efficiency, and avoid costly incidents and penalties.
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$100 - $500
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Emailage

by Emailage
Emailage
LexisNexis Risk (formerly Emailage) provides organizations with a fraud prevention solution powered by email intelligence. Its risk detection modules perform consumer identity verifications and threat evaluations at multiple stages like account formation, account configuration and online transactions. It uses emails as a core risk identifier to evaluate metadata information like domain details, email details and other biometric data if available. Users can access the transaction history and behavioral patterns of email addresses to protect genuine customers and act against accounts with high email risk scores.It combines digital and traditional data with dynamic fraud signals and access to the vendor’s extensive network to reduce false positives and consumer risk. Provides predictive models through artificial intelligence and machine learning to prevent fraudulent online transactions and auto-approve genuine consumers. Its email risk score helps identify fraudsters while increasing top-line revenue and improving overall customer satisfaction.
User Sentiment User satisfaction level icon: excellent
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Buyer's Guide

GRC Software Is All About Prioritizing Governance, Compliance and Risk Management Practices 

By Shauvik Roy, Market Analyst at SelectHub

GRC Software BG Intro

GRC software (governance, risk and compliance) brings comprehensive risk management services to organizations that need to meet financial, legal and regulatory requirements. It leverages automation and machine learning to help you manage risk on a molecular level — this includes all types of risks like cybersecurity, financial, third-party, operational, legal and more.

With the risk landscape growing more complex, organizations need an enterprise-grade solution that can help adopt a proactive approach to risk management. GRC software streamlines risk management programs and provides advanced analytics required to stay one step ahead of any vulnerability threatening your business.

Executive Summary

  • GRC software provides integrated management solutions and helps you keep track of relevant regulations and compliance.
  • The system provides access to state-of-the-art cybersecurity measures.
  • It incorporates tried and tested risk management frameworks for maximum efficiency.
  • Risk insights and advanced analytics provide a granular understanding of risks.
What This Guide Covers:

What Is GRC Software?

GRC software unifies corporate governance, risk and regulatory compliance management processes into a single holistic platform. It provides access to integrated modules and workflows designed to assess and minimize risk exposure while allowing your organization to scale freely.

There are multiple regulatory frameworks that act as guidelines for dealing with risk and government regulations in various sectors. Faced with a continuously evolving risk landscape, GRC software, along with ERM and IRM software, have emerged as viable options. The global GRC market, evaluated at $40.84 billion in 2021, is expected to keep growing at a CAGR of 14% till 2030.

GRC Software Categories

Along with identifying and mitigating risks, GRC software prepares you to deal with different types of risk incidents. It evaluates risk information to recognize vulnerability areas and puts together corrective action plans. You get real-time visibility over risk, governance and compliance issues with dedicated data visualization, communication and analytics tools. Most GRC solutions can function with any business, irrespective of sector or size.

Deployment Methods

You can either opt for on-premise deployment or a cloud-based model. Some providers also offer a hybrid option, though it’s not very common. In this section, we’ll discuss some of the advantages and limitations of the two popular deployment strategies:

On-premise

With on-premise deployment, you are directly responsible for hosting and maintaining all the necessary hardware.

Benefits
  • Offline Connectivity: The main advantage of hosting essential hardware in your company’s basement is that you’ll never need an active internet connection to connect to servers.
  • Simplified Payments: Customers have to pay the complete upfront amount, either at the same time or as part of a payment plan.
  • Flexibility and Customizability: You get complete autonomy over what customizations to make, when to schedule updates and how to handle downtime.
  • Personalized Security: You can handle, implement and audit your own physical security measures.
Limitations
  • Difficult To Implement: This deployment takes time and resources. You must acquire and install the necessary hardware and reskill the workforce to be market-ready.
  • Compromised Scalability: Any hardware you get will be optimized to support your business at the time of acquisition. In order to scale, you’ll have to invest additional time and resources.
  • Requires In-house Staff: Complete autonomy means only you are responsible for maintenance and troubleshooting. You have to hire outside help or train your existing staff to fill the gap.
  • Expensive: On-premise deployment is more expensive all-around. You end up paying extra for a ton of things — maintenance, rent, utilities, upgrades and the list goes on.

Cloud-based

Cloud-based deployment revolves around the SaaS model, where you pay subscription charges for a specific number of devices. The vendor stores data on centrally accessible cloud servers.

Benefits
  • Simple Implementation: Without the need to acquire and install additional hardware, cloud-based implementation is fast and hassle-free. It typically shouldn’t take longer than a few days at most.
  • Easy Scalability: It’s easier to scale up or down to meet your growing demands when there’s no change or reconfiguration of hardware involved.
  • Accessibility: You can access the platform anywhere and from any authorized device as long as you have an internet connection.
  • Comparatively Cheaper: It removes a lot of overhead otherwise associated with on-premise installation, resulting in lower costs.
Limitations
  • No Offline Access: Internet access is a fundamental requirement without which your organization will come to a screeching halt. Also, be prepared for occasional lag and connectivity issues.
  • Lacks Configurability: You’ll have to contact the vendor for every customization or add-on you need. What you gain in accessibility, you lose in autonomy and configurability.
  • Additional Costs: While cloud-based deployment is cheap in principle, there are other costs you can incur along the way, and they tend to add up. Adding or removing modules, getting additional services and scaling the software up can end up costing you a lot of money.

Hybrid

A hybrid deployment model tries to bring together the best parts of on-premise and cloud-based strategies. It’s a combination of flexibility and autonomy of on-premise deployment and accessibility and scalability of the cloud-based model.

Primary Benefits

GRC software offers a range of benefits and quality of life improvements that stretch far beyond risk management and governance. Here are some of these benefits:

Primary Benefits of GRC Software

Track Regulatory Changes in Real Time

With GRC software, you get automated updates and notifications about any regulatory changes or compliance issues related to your area of practice. Otherwise, you would have to spend your time and resources on regularly tracking and understanding regulatory news related to your industry. Through timely updates, you’ll never have to worry about paying fines because of accidental noncompliance.

Improve Efficiency With Automation

You can automate multiple risk management, compliance and governance tasks. Incident preparation modules can handle risk incidents efficiently and with minimum human involvement. Similarly, you can create automated workflows for internal audits, task assignments, reporting and other related activities.

Increase Visibility Into Risk Programs

Get real-time visibility into your risk management and compliance-driven programs with dashboards, direct notifications and alerts. You can use the dashboard’s tracking capabilities to check on who’s responsible for what tasks and what processes are pending. Having all the data in one place reduces the odds of mistakes because of additional oversight.

Understand the Context Behind the Risk

It’s not enough to just manage risk; you should be able to see the big picture to understand your organization’s vulnerabilities. GRC software uses advanced analytics to provide the insights necessary to understand the context behind risk incidents. It can help you predict risk behavior, anticipate trends and diagnose key areas of vulnerability within your infrastructure.

Unify Risk Management Processes

The best part about using a single enterprise-grade GRC software for all your risk, governance and compliance needs is that it encourages collaboration across all business units.

A centralized data repository removes data silos, and you get a single source of truth for all risk processes. This makes it easier for you to present data to stakeholders and upper management — you’ll have access to all the data you need, thoroughly audited and without errors.

Implementation Goals

Goal 1

Standardize Risk Management Processes

GRC software establishes a common risk vocabulary across all business domains, enabling easy collaboration and communication.

Standardized risk management practices and programs ensure there will be minimum disruptions despite employee turnover.

Goal 2

Maintain a Competitive Edge

You can benchmark your risk mitigation standards against industry peers, compare KPIs and collaborate on risk databases.

Knowing is half the battle, and it’s good business sense to be aware of what your competition is doing so you’re not left playing catch up.

Goal 3

Mitigate Risk

An obvious implementation goal is to mitigate risk with the least disruption to critical business processes. The most crucial objective is to preemptively identify and deal with risk, governance and compliance-related issues.

Goal 4

Make Better Decisions

Advanced analytics and reporting capabilities provide granular insights into your organization’s relationship with risk. Add data visualization into the mix, and you have the tools you need to develop a contextual understanding of risk.

You can use visualizations and heat maps to translate risk data into a familiar language for both upper management and stakeholders, leading to greater engagement and risk-aware decision-making.

Goal 5

Protect Brand Image

When it comes to governance, risk and compliance, bad optics are bad for the business. You don’t want to hit the news as the company that failed to comply with regulations designed to protect the environment or guarantee the safety of workers.

GRC software automatically tracks and notifies you about any regulatory changes relevant to your business.

Basic Features & Functionality

Risk Management

When it comes to identifying, analyzing and mitigating risk incidents, this is your go-to module. You can create automated workflows to set up response protocols for different types of risk incidents.

The platform can identify and classify risks and notify relevant risk managers accordingly.
Policy Management

It’s important to communicate and share all internal policies effectively and in a manner that the employees can understand. This module can help you define, review and approve company policies.
Audit Management

Schedule, document and carry out internal audits with a clear and transparent audit trail.

You can even compare your audit reports with industry peers to identify potential areas for improvement.
Change Management

Continuously keeping up with regulatory changes can be a chore. This feature automates the entire process and provides real-time updates to relevant teams, so your organization never falls foul of regulations.
Compliance Management

You can track existing regulatory requirements and maintain compliance. The system automatically notifies your team of any expiring licenses and agreements before it is too late.
Incident Management

This module deals with workplace incidents as swiftly as possible and with the least disruption. It includes preset workflows to deal with multiple types of incidents and speed up response rates.

It maintains documentation detailing the specifics of risk incidents, prescribed responses and consequences for future reference.

Advanced Features & Functionality

Third-party Risk Management

While this feature is not very common, it’s crucial for organizations dealing with multiple third-party vendors or suppliers. It’s responsible for detecting and mitigating any third-party risk you may face because of expiring licenses, unregulated sourcing and noncompliance on behalf of your suppliers.

Sometimes, you can prepare questionnaires for third-party vendors to assess the initial risk associated with each of them. Depending on your risk assessments and tolerance, you can prepare response plans in advance.
Dashboard

The dashboard provides real-time visibility into all active tasks, risk remediation programs, controls and more. It’s basically where you go whenever you need to know what’s going on.

Among other things, you can configure the dashboard to provide updates on KPIs, KRIs, engagement levels and your company’s financial health periodically.
Reporting and Analytics

You can run reports to test your team’s efficiency, risk tolerance, business health, controls and more. It’s crucial to identify and address areas of vulnerability all across your infrastructure.
Document Management

A robust documentation module is essential to any organization dealing with risk and governance issues daily. It creates, reviews and updates documentation regarding workflows, controls, continuity plans, risk scoring standards and more, for existing and future employees.

You can define specific roles and create custom risk management frameworks, all stored in a centrally accessible secure repository.

Current Trends

With the risk landscape changing continuously, it’s only natural that GRC software has to improvise, adapt and overcome these new challenges. This section will discuss the scope and application of current and upcoming trends in GRC software.

GRC Software Trends

Rise of Integrated Solutions

More and more companies are embracing the advantages of deploying a single enterprise-grade risk management solution instead of using traditional standalone modules to deal with governance, risk and compliance issues. Take a look at the steady growth of the global IRM (integrated risk management) industry, and you’ll know what this means — it has been growing at a CAGR of 15.19%.

The rising popularity of integrated solutions is a consequence of companies increasingly adopting a proactive approach to risk management — it’s the simplest way to standardize risk management programs, incorporate multiple regulatory frameworks and cut costs without compromising on functionality.

Use of AI-driven Bots

The rise of AI-driven chatbots and natural language processing (NLP) has revolutionized the way we approach troubleshooting. While we primarily used them for customer support, their use case has expanded significantly since their introduction.

In the GRC software industry, you can use AI-driven bots with NLP to check compliance, answer technical queries, locate specific documentation, run reports, schedule reminders and more.

Call For Specialized Regulatory Services

The last few years have been tumultuous, irrespective of which sector you work in. The pandemic has resulted in even stricter regulations to ensure transparency and safety across different business units. This has created a demand for GRC software specially equipped to deal with changes in regulatory content in certain industries rather than a general GRC solution that can be moderately effective across all industries.

Software Comparison Strategy

Choosing the right GRC software may seem like a mammoth task at times. The ideal way to go about it is to prepare a requirements list, complete with everything you need from the platform. This section will talk about some crucial points of comparison to help you select an ideal platform.

Mode of Deployment

The mode of deployment will play an essential role in how you interact with the GRC software. An on-premise deployment strategy is flexible and customizable but more expensive in the long run.

If you go for the SaaS model, you’ll get remote access, and it’ll be less expensive. Implementation and maintenance are also significantly easier to pull off.

Mobile Application

For organizations with a large part of their workforce working from home, the lack of remote and mobile access can be a dealbreaker. A dedicated mobile app with access to critical functionalities can ensure you quickly respond to governance, compliance and risk issues.

Security

Depending on the nature of your business, there might be specific risk management frameworks you must follow. The GRC software should be compatible with relevant frameworks and provide security on par with regulatory requirements. Otherwise, risk incidents might compromise confidential information, severely hurting both your business and your clients.

Automation

TWhile enough has been said about the benefits of automation in risk management programs, it's still up to you to decide whether you want it or not.

For a small business, automated services may result in additional costs without exceptional benefits to show for it. The benefits of automation are more pronounced in mid to large-sized enterprises that deal with a large number of tasks and activities on a daily basis.

Projected Time to Market

The faster your employees become familiar with the new platform, the easier it will be for you to return to business as usual. Implementing an integrated GRC software is an enormous change that can take a significant amount of time to learn and use, regardless of the mode of delivery.

If the software is easy to use and the UI and UX are user-friendly, it will shave off a huge chunk of your projected time to market. If you are short on time, this might be something you want to consider.

Cost & Pricing Considerations

There are only a few factors that influence GRC software cost and pricing in general. However, keep in mind that there might be several other factors based on specific vendor policies.

Your preferred deployment mode will set the tone for how much the acquisition costs, both initially and in the long run. For on-premise deployment, initial costs can run high because of hardware installation and implementation services. You might even have to acquire additional space and equipment to host the required hardware.

On top of that, add the cost of any in-house experts and technical personnel you hire and rent and utility payments for the duration of your use — no points for guessing which option is cheaper.

Cloud-based deployment delivers the platform as a SaaS product, and you’ll have to pay subscription fees depending on the total number of users. While you save a lot of money on installation and maintenance, you might end up paying for additional services and modules; if you’re not careful, the costs can add up. However, there’s no doubt that a cloud-based deployment model is a cheaper solution.

The Most Popular GRC Software

The sheer size and scope of GRC software inherently make it impossible to determine any one platform as the best solution out there. Ultimately, it’ll come down to your particular needs and the software’s ability to meet those demands. To help you get started, here are some popular solutions to consider:

RSA Archer

RSA Archer is an enterprise-grade GRC software that provides access to a full range of risk management capabilities, including automation, reporting and analytics, risk and compliance management, and data visualization. You can build your application or integrate third-party applications with ease.

While it has not been designed specifically for use in any particular industry, RSA Archer can deal with governance, risk and compliance issues in any sector.

RSA Archer

Use the dashboard to get an overview of risk incidents.

MetricStream

MetricStream is a GRC software that unifies risk management, governance and compliance processes into one solution. It surveils your company infrastructure in real time to detect any sign of risk. You can run reports, track compliance, follow regulatory changes and define controls to deal with possible incidents.

Combined with AI and machine learning, you can not only detect and repair areas of vulnerability but also predict risk incidents. Hierarchical mapping and business continuity planning ensure your company can continue to operate even in the case of a natural disaster.

You can either create new apps, configure new APIs or integrate with external apps as necessary.

MetricStream

Prioritize which entities to audit based on the severity of the risk.

LogicManager

LogicManager can fit into any organization’s framework because of how versatile it is as GRC software. It combines risk management, governance and compliance functionalities into a single suite.

You get access to round-the-clock risk assessments, automation, reporting and one-click compliance. Additionally, the platform provides a centrally accessible risk database that acts as a repository for all your remediation standards and controls.

The platform covers multiple regulations, making it suitable for a wide audience. Data visualization makes it easier to explain risk to your stakeholders, and AI improves the overall efficiency of your processes.

LogicManager

Get a granular breakdown of risk incidents.

Diligent

Diligent is a cloud-based GRC software specializing in risk and vulnerability management. It integrates compliance and governance management capabilities to meet urban GRC requirements.

With real-time surveillance and dashboards, you can get maximum visibility into risk-related processes. Use automation and AI to speed up your risk response rates and run reports to get the most out of your risk data.

Diligent

Monitor ESG obligations in real time.

ServiceNow GRC

ServiceNow GRC combines risk management, compliance and governance procedures to minimize your organization’s risk exposure. You can assign risk scores, create and review policies, and set up custom workplaces and smart remediation plans. It complies with multiple risk management frameworks to provide real-time risk assessments and incident preparation protocols.

In addition, it has a powerful third-party risk management module that can be beneficial for businesses dealing with multiple external suppliers.

ServiceNow GRC

Get a complete rundown of all existing issues.

 

 

Questions To Ask Yourself

Questions are the simplest way of organizing your requirements. There are multiple GRC software vendors available, and you must understand what your business needs before jumping into the mix.

GRC Software Key Questions To Ask

Use these questions as a starting point for internal conversations:

  • What are our immediate needs from the GRC software?
  • What size and scope of software would be in sync with our company’s objectives?
  • How much are we willing to spend to acquire new software?
  • Do we require integration support for any particular applications?
  • What kind of risks do we need to prioritize?

Questions To Ask Vendors

Use these questions to communicate your requirements to vendors:

About the Software

  • Is the software easy to use?
  • What kind of security does the system provide?
  • Does the software support automation?
  • How comprehensive and detailed are the reporting and analytics tools?
  • Does the platform provide a centralized data repository?

About the Vendor

  • Does the vendor charge extra for implementation and installation?
  • What kind of customer support does the vendor provide?
  • Does the vendor offer any additional services like data residency and migration?
  • Are there any live or on-demand product training services?
  • What is the vendor’s average response time for reported issues?

In Conclusion

Choosing GRC software can be an overwhelming task because it will govern almost every single aspect of your daily experience from the moment of its inception. It’s important not to rush and take it one step at a time. If you have stuck it out with us until the end, you already know everything you need. Create your requirements list and follow through till you find that ideal software.

We hope this guide will adequately help you on your software selection journey.

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Shauvik
By Shauvik Roy
Technical Content Writer
Shauvik Roy is a Market Analyst at Selecthub. He writes content for the insurance, risk management and legal domains. Hailing from the city of Kolkata, he has a Master's Degree in English from the University of Hyderabad. When he's not busy pitting one software against another, you will find him playing video games, reading sci-fi books or tinkering with his PC.
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Rohit Dutta
Technical Research By Rohit Dutta Mazumder
Senior Analyst
Hailing from the serene landscapes of Assam, India, Rohit is a seasoned professional with diverse expertise in several software categories. Armed with a Bachelor of Technology in Mechanical Engineering and an MBA in Operations Management, he brings a unique blend of technical acumen and strategic thinking to the table. His proficiency extends across dynamic fields such as Product Lifecycle Management, Hotel Management, Ecommerce, Accounting and Finance.
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Shashank
Technical Review By Shashank K K
Principal Analyst
After graduating with a Masters in Finance from Trinity College Dublin, K K Shashank's research and detail-oriented skills led them to SelectHub. He has diverse knowledge across various software categories like Accounting, Financial Planning and Analysis, Ecommerce, Risk Management, PLM, Insurance and more since 2020.
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Pooja
Edited By Pooja Verma
Content Editor
Pooja Verma is a Content Editor and Senior Market Analyst at SelectHub, who writes and edits content for endpoint security, legal, CRM, fundraising software, eCommerce, and mental health software. She earned a literature degree from Miranda House, DU and also holds Master’s in Journalism from Symbiosis Institute of Media and Communication in India. In her free time, you can spot her reading a book or binge-watching the latest web series and movies.
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