GRC Governance, Risk, and Compliance Tools
In today’s rapidly changing and highly regulated business world, governing governance, risk, and compliance (GRC) has become more complicated and crucial than ever. Whether you’re a small business or a multinational corporation, using the right GRC governance tools for risk and compliance can be the difference between success and failure in your ability to remain safe, stay compliant, and make informed business decisions.
What are these specific tools? What is their purpose? What are the best ways to choose the most appropriate one for your business?
We’ll break this down to simple, easy-to-understand language. Also included are useful links, helpful guidelines, and examples.
What Are GRC Governance, Risk, and Compliance Tools?
GRC Tools can be described as software-based platforms that allow organisations to manage their policies, assess risks, and ensure compliance with regulations and laws. Consider them your company’s digital nervous system, which coordinates security and reporting, internal audits, and policy management across different teams.
They unite three main roles:
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Governance Making sure that decisions align with the goals of the business
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The concept of Risk Management: The identification and reduction of potential threats
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Compliance: Conforming to the legal and regulatory requirements
Making use of the best GRC instrument can aid in compliance but also provides you with live insight into your processes, which improves decision-making and helps you save time.
Why Use GRC Tools? (And Why Spreadsheets Are Failing You)
Let me share with you the story of an organisation I had consulted with. They tracked rights of access, policy acceptances, and compliance audits with… Excel spreadsheets. It worked for a short time. As the company grew, they began not recognising risks, ignoring policies, and failing audits.
Do you recognise yourself?
GRC Governance and risk tools address these issues through:
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Automating workflows
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Centralizing data
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Enhancing the reporting and visibility
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Enabling proactive risk identification
Simply put: Stop responding to issues, and begin to prevent them from occurring.
The Evolution of GRC Before modern GRC systems, companies relied on manual systems or siloed on. Over time, we’ve progressed through three phases:
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Manual GRC – Paper spreadsheets and files
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Point Solutions—Individual applications for compliance or risk
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Integrated GRC Platforms: Tools like AuditBoard, Vanta, and Archer that handle all GRC functions in one place
The tools of today can be described as cloud-based, AI-powered, and adaptable, which makes them indispensable for all organisations.
Top 10 GRC Tools You Should Know About
Here’s a well-curated GRC (governance, risk, and compliance) list—the tools that professionals are talking about:
| Tool | Rating | Key Features |
|---|---|---|
| AuditBoard | 4.5/5 | Internal audit, SOX compliance, risk management |
| Vanta | 4.4/5 | SOC 2, ISO 27001 automation, real-time monitoring |
| Archer | 4.2/5 | Business continuity, enterprise risk, and audit |
| Risk Cognizance | 4.9/5 | Proactive risk management and compliance |
| Workiva | 4.8/5 | Data collaboration, financial compliance |
| LogicGate Risk Cloud | 3.9/5 | No-code automation, risky workflows |
| Corporator | 4.3/5 | Strategic aligns with GRC functions |
| DigitalXForce | 4.7/5 | ESRPM based on a mesh of cybersecurity |
| StandardFusion | 3.7/5 | Simpler GRC for SMBs |
| ServiceNow GRC | 5/5 | Cloud platform for compliance and risk that is a unifying platform |
Are you looking for more options? Check out the complete list of GRC tools.
The Role of the Governance, Risk, and Compliance Framework (PDF Guide)
A reliable GRC tool must be supported by a solid framework. You can download popular GRC frameworks in PDF, like:
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COSO
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ISO 31000
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COBIT
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NIST
These frameworks can help you ensure that you are aligning your GRC tool with industry standards and the requirements of regulatory agencies.
GRC Challenges in ERP Applications (And How to Solve Them)
ERP systems such as SAP or Oracle contain sensitive information, such as financial records and PII, P–and are often susceptible to SoD (Segregation of Duties) conflicts and over-permissioning.
The solution? Make use of a tool such as Appsian to establish an access management system that is real-time and detects violations of SOD and enforces security controls that are context-aware.
Step-by-Step Guide to Choosing the Right GRC Tool
Let’s make it easier to select:
1. Assess Your Needs
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What are your compliance requirements?
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What are the risks you’ll need to keep an eye on?
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What information and apps should be secured?
2. Define Must-Have Features
Examples include:
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Policy management
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Audit tracking
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Compliance automation
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Visualization of data
3. Explore GRC Tools Gartner Magic Quadrant
Find out how the top tools are ranked on the basis of quality of view and capability to execute.
4. Request Demos & Trials
Testing usability, customisation, and integration with other ERP systems, such as ERP or CRM.
5. Check Total Cost of Ownership
Make sure you are aware of the implementation and training, as well as continuous assistance.
Free GRC Tools for Small Teams
Not every company requires the enterprise-grade GRC suite. It is possible to use open-source GRC instruments along with open-source alternatives, for example:
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OpenGRC
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Eramba
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OSSEC (for the security of compliance)
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GRCStack
They are a great start for SMBs or nonprofits with small budgets.
Final Thoughts: Why You Should Invest in GRC (Governance, Risk, and Compliance) Tools
Selecting the appropriate GRC governance tools, risk, and compliance isn’t just about checking the boxes to be audited but rather about building confidence, transparency, and resiliency in your business.
With the regulatory landscape changing and cyber-related risks increasing, GRC tools empower you to remain alert and accountable, as well as far ahead of the technological curve.
If you’re looking to automate compliance reporting, lower access risks within ERP, or handle internal audits more effectively, the appropriate GRC tool will give you a competitive advantage. Put your money into a more intelligent future using GRC governance and risk-based compliance tools that are designed to work for you.
Frequently Asked Questions (FAQs)
Q What are the Top Ten GRC instruments?
Answer: The top 10 GRC tools are AuditBoard, Vanta, Archer, Risk Cognisance, Workiva, LogicGate, Corporater, DigitalXForce, StandardFusion, and ServiceNow GRC.
Q: Where can I download the governance framework for risk, compliance, and governance? A: You DF? You can download a framework for governance risk, the compliance frame PDF through reliable sources such as ISACA as well as NIST.
Q: What is a comprehensive collection of GRC tools? An extensive listing of GRC tools can be found on platforms like Gartner, G2, and Software Advice.
Q: What tools are considered to be the Top GRC tools of the moment?
Answer: Tools like AuditBoard, Archer, and ServiceNow GRC are frequently listed among the top GRC tools by experts in the industry.
Q: What is a GRC Framework?
A: A GRC framework is a method of organisation that assists organisations in aligning the management of risk, governance, and compliance with the business goals.
Q: Are there any Free GRC tools?
A: Yes, free GRC tools such as Eramba, OpenGRC, and OSSEC provide basic security and compliance capabilities.
Q What is the definition of GRC tools included in the Gartner Magic Quadrant?
Answer: GRC tools featured in the Gartner Magic Quadrant typically comprise the top companies in the industry, like Workiva, LogicGate, and ServiceNow GRC.