Governance, risk management, and compliance (GRC) is a framework for effectively managing these three practices across a business. Having a single, unified platform to handle all of a company's risk, compliance, and security needs are becoming increasingly vital. Companies can improve the efficiency and effectiveness of their governance, risk management, and compliance processes by adopting a number of commonly used techniques and technologies. By automating GRC processes, streamlining operations, and decreasing implementation complexity, teams can benefit greatly from software and IT solutions.

In the list of the top tools, we have mentioned the Top 40 Governance Risk and Compliance (GRC) Software along with their features and pricing for you to choose from.

1. Fusion Risk Management

Fusion Risk Management is a GRC solution hosted in the cloud that was built to integrate with the Salesforce service. Users are able to get a better "customer's eye view" of the product with this helpful feature. Current risks, dependencies, and relationships among risks, business processes, and external business partners are highlighted.

Key Features:

• Dashboards, reports, issue monitoring, and extensive personalization are just a few of the features that stand out.

• Since the software doesn't require any coding knowledge to set up, it's accessible to users of all skill levels.

• If your company uses Salesforce and you're looking for a GRC solution that works seamlessly with your e-commerce and CRM software, this is the tool for you.

• Fusion may not be worth the effort for businesses that already use alternative CRM software because of its complex adoption process and limited functionality.

Cost:

You can contact the sales team for the quote.

2. IBM OpenPages

IBM's GRC product, OpenPages, was developed with the Watson artificial intelligence engine integrated into its core. Companies like Nationwide and GM use it for their GRC processes. It's a great option for firms of any size who are looking to embrace both ML and GRC software at the same time.

Key Features:

• Financial control, IT governance, and regulatory initiative management are only a few of the core functionalities supported by this program.

• Internal GRC-related audits are also supported by the included tools.

• It is built-in AI integration.

Cost:

You can contact the sales team for the quote.

3. Compliance Foresight

Compliance Foresight is a Governance, Risk & Compliance (GRC) solution that includes vulnerability and risk management. This GRC framework is flexible and extensible, making it ideal for cutting-edge businesses. Organizations can get their cyber security programs off the ground quickly and easily with the help of pre-built modules and predefined compliances.

Key Features:

• This comprehensive suite allows businesses to easily and effectively manage their compliance needs as they grow.

• You'll see a return on investment quickly and it takes very little skills to utilise.

• The solution, which is based on AI and business logics, facilitates the management of cyber security requirements for businesses.

• Asset-based and process-based risk management are both possible for an organisation, as are the management of audits, third parties, security incidents, vulnerability management solutions, web application security, and risk.

Cost:

You can contact the sales team for the quote.

4. Optial SmartStart

When it comes to GRC, Optial SmartStart is your go-to cloud-based service. It caters to organizations of varying sizes in the banking, insurance, manufacturing, and retail sectors, among others. There are also import/export capabilities, permission settings, analytical reports, and a log of all user actions within the software.

Key Features:

• Compliance management, auditing, incident management, and risk assessment and management are only a few of the main characteristics.

• Optimal SmartStart is a centralised platform for managing EHS, audit, and GRC processes.

• Regulatory standards such as ISO, OSHA, RIDDOR, and COSHH are supported by the tool.

• It allows businesses to remain in compliance with them. In business settings, it facilitates incident tracking and root-cause analysis.

Cost:

You can contact the sales team for the quote.

5. ControlMap

ControlMap is a governance, risk, and compliance (GRC) management system that helps businesses streamline auditing, risk management, policy monitoring, and other GRC-related processes. Staff employees may keep track of policy papers in one place and easily monitor updates, new versions, and approvals.

Key Features:

• Members of your team can use ControlMap to conduct risk assessments and create reports to better understand potential dangers and exploitable weaknesses.

• The evidence management module allows workers to generate fresh evidence, designate owners, and plan out data collection activities.

• Furthermore, administrators can map risks and rules according to business needs, and set industry-specific controls.

Cost:

You can contact the sales team for the quote.

6. Parapet

Parapet is a cloud-based solution that provides a centralised hub for the management of enterprise-wide governance, risks, compliance, audit, health, and safety. This platform is useful for spotting, documenting, and keeping tabs on potential threats. In addition, it provides a GRC solution that can be used to manage risks across all of a company's applications with only one centralised dashboard.

Key Features:

• Risk management tools, a risk/asset registry, an in-built library, and monitoring tools are just some of the features.

• The mobile app that comes with Parapet makes it possible to use the platform from anywhere.

• It gives you an enterprise-wide perspective on risk and compliance from a single point of control.

• Users may coordinate on projects and exchange files safely thanks to the app's built-in messaging and collaboration feature.

Cost:

No term costs $5, One year costs $1

7. Corporater

Through digitally modelling the customer's business management system, the Corporater Business Management Platform can serve as a unified hub for the oversight, control, and assurance of the company's performance, risk, and compliance.With Corporater, businesses can reduce silos and deliver business outcomes as a linked organisation by connecting their strategic, tactical, and operational tiers of operation. More intelligent judgments, higher productivity, and better optimization of operations are just some of the long-term competitive benefits that may be locked in by running as a connected enterprise.

Key Features:

• Corporater enables horizontal and vertical information flow.

• It allows businesses to better align business goals with risk and compliance policies and transition away from antiquated traditional internal reporting.

• Corporations can now operate as a connected company with the help of Corporater, which allows them to view the big picture by collecting data from all departments

• It helps businesses gain insights from the data, and disseminating those insights to the appropriate people at the appropriate time.

Cost:

You can contact the sales team for the quote.

8. Rencore Governance

Rencore provides assistance in automating Microsoft 365 Governance for businesses of all sizes and in all industries around the world. Dashboards, automated report generation, data insights, actionable plans, and automation are just some of the ways in which Rencore Governance receives an inventory of Microsoft cloud services and makes the data visualised therein easily consumable.

Key Features:

• Rencore Governance will guard sensitive information, offer first-rate assistance to clients

• It facilitates easy data gathering and analysis.

• When it comes to managing Microsoft 365, Microsoft Teams, SharePoint, Azure, and Power Platform, Rencore Governance gives you the greatest amount of leeway possible.

• You can keep an eye on user behaviour to pick up on governance deviations and automate their correction.

Cost:

You can contact the sales team for the quote.

9. Accountable

Accountable is a cloud-based solution for healthcare organisations of any size to manage their compliance and risk. The suite's features aid customers in managing HIPAA compliance, policies and procedures, HIPAA training, risk assessment, and business associate agreements. In addition, the product grants access to a privacy officer, who feeds information and reports to the compliance management team.

Key Features:

• HIPAA training is available on Accountable in the form of interactive videos and quizzes.

• Accountable supplies its customers with enumerated lists of HIPAA-related policies and processes.

• Accountable provides customers with risk-assessment instruments that aid in maintaining compliance with PHI regulations.

Cost:

You can contact the sales team for the quote.

10. ServiceNow GRC

ServiceNow provides a GRC tool with robust capabilities for automating governance, risk, and compliance. The service is hosted in the cloud and designed to supply a centralised data environment with simple access methods.

Key Features:

• With the software's built-in reporting and analytics tools, businesses can easily monitor and analyse GRC-related indicators that are specific to their own operations.

• Organizations may improve data analysis and GRC efficiency

• Allow real-time monitoring, predictive intelligence, and automation tools.

Cost:

You can contact the sales team for the quote.

11. LogicManager

The purpose of LogicManager, a cloud-based GRC solution, is to help businesses collect, organise, and analyse data that is important to their risk management operations. The application aids enterprises in developing a standardised framework for risk management, standardising reporting, and capitalising on real-time data to better spot and counteract security threats.

Key Features:

• Users will have access to a dedicated corporate consultant who will assist them after adoption, answering any questions they may have and showing them how to utilise the software to create a GRC programme.

• If you use their risk management platform and consultative services, you will be better equipped to plan ahead

• You can protect your brand's image, and boost your company's bottom line through steadfast governance.

Cost:

You can contact the sales team for the quote.

12. Onspring

Onspring is a cloud-based, no-code software option that involves reporting, analysis, process management, and collaboration. Their integrated GRC, ITSM, and business operations solutions streamline processes and make essential KPIs accessible anywhere, at any time.

Key Features:

• Tracking project status, documentation, milestones, ownership, and more are all made possible

• It is a centralised site where teams may work together on internal projects, client deliverables, and business objectives.

• You can create graphic approval and rejection channels for non-linear processes, and diagram complete processes in stages.

• You can schedule automatic reports to be sent to selected stakeholders, executive teams, and boards of directors.

Cost:

You can contact the sales team for the quote.

13. AuditBoard

When it comes to improving audit, risk, and compliance management, AuditBoard is at the forefront of cloud-based platforms. With its assistance, your company will be better able to adapt to new circumstances and meet modern needs. This software is a tailored solution to the problems currently facing practitioners, allowing them to automate tasks and enhance their efficiency.

Key Features:

• With AuditBoard, you can remain ahead of the ever-changing modern environment

• Thanks to the platform's integrated risk management tools, it gives you instantaneous insight into emerging concerns, risk trends, and critical performance indicators.

• The software is designed to help you keep ahead of the ever-changing risks of the modern world by increasing your productivity, connectivity, and visibility.

Cost:

You can contact the sales team for the quote.

14. LogicGate

LogicGate is a software as a service (SaaS) platform hosted in the cloud that aids businesses in automating their risk and compliance initiatives. The most important risk and compliance operations may now be handled in a centralised and streamlined no-code environment thanks to LogicGate's elimination of spreadsheets and email.

Key Features:

• The graph database foundation of the LogicGate agile platform allows it to be more adaptable to the changing needs of your software.

• Enterprise Risk Management, Compliance Management, IT Risk Management, Third-Party Risk Management, Policy Management, and Audit & Controls Management are just some of the GRC problems that the highly adaptable platform may be quickly implemented to address.

Cost:

You can contact the sales team for the quote.

15. Sofvie

Sofvie is a web-based collaborative intelligence platform that helps you improve workplace communication and risk management. Sofvie also provides a mobile app for data collection on the go, whether in the office, the field, or elsewhere. The software functions without an active internet connection, but it automatically updates itself whenever one is available.

Key Features:

• Data collecting, record keeping, danger monitoring, individualised report generation, form submission, document inspection, and other related tasks can all be accomplished on the platform.

• Sofvie's decision record allows users to look back on their past judgments and figure out how to avoid similar situations.

• Actions that need to be resolved in the workplace or out in the field can be made by users and assigned to others.

• It involves optimised dashboards, field insights, form data management, and more.

• Sofive may be integrated with external systems to streamline data transfer and reduce the need for changes to preexisting processes.

Cost:

You can contact the sales team for the quote.

16. OnBoard

You can simplify your leaders' access to up-to-date, accurate information across all devices, and speed up meeting preparation with OnBoard. You can confidently rule from anywhere, thanks to the integration of Zoom, and your ability to work remotely.

Key Features:

• Simplifying board meeting administration, improving access to information in real time across all devices, and enhancing the safety of remote meetings are just some of the benefits of OnBoard.

• Users may quickly sync content across all their devices, including desktops, laptops, tablets (including Android, iPad, Kindle Fire, and Windows Surface), and cellphones.

• This allows users to assemble and co-author books and other materials (Android and iPhone).

• You can add searchable notes to the board documents right in the document itself.

• OnBoard's features include remote data swiping, surveys and quizzes, support for many boards and organisations, and a private messaging system for one-on-one or small-group communication.

Cost:

You can contact the sales team for the quote.

17. iGrafx

When it comes to BPM, iGrafx is the way to go. Business process models and notation diagrams can be made quickly and easily with the help of process automation solutions. Procedures, regulations, and information flows can all be customized by the users.

Key Features:

• Cloud and on-premise deployment options are available, and some of the main features.

• It includes process automation, performance management, risk and compliance tools, and SAP optimization.

• This system allows for centralized access and adoption across an organization, giving managers a bird's-eye view of up-to-the-minute performance metrics and dashboards.

• User-level permission management is another privacy feature available in iGrafx.

• Users can also record and evaluate data regarding the relationships between various business operations.

Cost:

You can contact the sales team for the quote.

18. Essential ERM

The Essential ERM system is an encrypted web-based Enterprise Risk Management platform. Business unit managers, executives, and board members are kept interested by the intuitive interface and cutting-edge graphic elements. Whether you're looking to kick off a brand new ERM initiative or advance an existing one to the next level of maturity more rapidly, Essential ERM will be your go-to catalyst.

Key Features:

• Risk assessments and analyses can be performed with the help of built-in risk bow-tie diagrams in Essential ERM.

• You can create a model of potential outcomes in which the causes of risk are linked to preventative and corrective measures.

• It aids in the development of strategy and the seizing of untapped possibilities by providing the means to detect, assess, and track potential threats.

Cost:

You can contact the sales team for the quote.

19. Compfie

Compfie is a cloud-based platform that can benefit small and large enterprises alike. It is designed to facilitate regulatory compliance management. The solution virtually audits all entities through a unified dashboard and identifies and mitigates non-compliance risks through automated controls. The tool decreases the time spent on audits and compliance management, all while keeping you up to date on changes in applicable laws with system-driven alerts.

Key Features:

• Reduce or eliminate the possibility of non-compliance with the use of this worldwide e-compliance platform

• It also provides the added benefit of allowing you to check in on the status of all your compliance needs whenever you choose.

• You can be 100% compliant by digitizing all your compliance paperwork and meeting all your compliance criteria in a single, straightforward format.

Cost:

You can contact the sales team for the quote.

20. ManageEngine ADAudit Plus

ManageEngine ADAudit Plus is a Windows auditing, security, and compliance solution. Whether you're working with Active Directory, Azure AD, file servers, Windows Servers, or workstations, you'll be able to take advantage of key features including faster compliance reporting, real-time risk alerting, and thorough logon auditing.

Key Features:

• Active Directory objects such as users, computers, groups, organizational units, Group Policy Objects, and more may be tracked and audited in real time using ADAudit Plus.

• A more in-depth understanding of user behavior and the ability to spot suspicious logins with UBA can be gained through auditing user login and logoff activities.

• When ADAudit Plus detects crucial changes to Active Directory's information or configurations, it immediately notifies users through SMS or email.

Cost:

You can contact the sales team for the quote.

21. Predict360

Predict360 is an AI-enhanced Risk and Compliance management platform that can foresee and prevent operational hazards and streamline compliance procedures. It is a cloud-based software that brings together risk management, key performance indicators, compliance policies and procedures, auditing, and tests and training. In order to provide predictive analytics, data insights for risk prediction, and simplified compliance, Predict360 makes use of a cloud-based, SaaS architecture and cutting-edge technologies.

Key Features:

• Predict360 streamlines processes and increases efficiency to better manage risk and compliance.

• Stakeholders are afforded a more in-depth, comprehensive perspective of risk and compliance thanks to the highly adaptable platform's ability to generate risk and regulatory links between organisational operations and give visibility into where hazards overlap.

• Predict360's streamlined design improves the effectiveness of risk and compliance departments

• It raises the level of transparency for upper management, and generates electronic audit trails simultaneously.

Cost:

You can contact the sales team for the quote.

22. Riskonnect

Riskonnect is an online governance platform with robust risk management and educational tools for its users. The tool consolidates GRC data collecting and analysis by drawing from a variety of sources and making use of robust automation features.

Key Features:

• A company's use of the platform can be aided by its ability to create audit plans and control its document archive. As a result of increased user consciousness, it seeks to foster safer workplace practices.

• Riskonnect's RMIS helps those in the field of risk management to spot dangers and implement solutions. Several mundane but time-consuming manual processes are also automated by the system.

• Professionals in the field of risk management may now conduct comprehensive internal and operational audits with the help of this solution. Managers can draught an audit strategy, compile supporting materials, and present a consolidated report.

Cost:

You can contact the sales team for the quote.

23. SAI360

The SAI360 platform is a cloud-based risk and compliance management system that can identify, prevent, and respond to risks in real-time. You can establish contingency plans and automate all risk-related processes with customizable workflows. It allows for the unification of previously disparate data sets and provides full transparency into the company's risk profile.

Key Features:

• Keep detailed records of your corrective actions and keep track of all your procedures in one safe location.

• Built-in reports make it easy for organizations to monitor the progress of regulatory frameworks and control systems over time.

• Reduce red tape in handling workplace accidents and make sure your vendors are reliable.

• You can protect your business from every angle by keeping an eye on both internal and external threats.

Cost:

You can contact the sales team for the quote.

24. Galvanize

Galvanize will assist with strategic risk management, compliance demonstration, and visibility, assurance, and confidence for executive management. Using a centralized system can cut down on the time and resources needed to manage your GRC programs and help you avoid making any mistakes.

Key Features:

• An advanced and cohesive GRC program allows for prompt risk detection, mitigation, and compliance monitoring.

• Enhance teamwork by streamlining and automating crucial procedures, and provide real-time insights to facilitate low-effort, data-driven decision-making.

• Integrate your core resources into a single environment to streamline and expand your operations.

• Makes it easy to implement a smart GRC strategy with our guidance.

Cost:

You can contact the sales team for the quote.

25. Drata

Drata is the leading security and compliance automation platform because it automates the monitoring and collection of evidence of a firm's security measures. It streamlines compliance workflows from beginning to end, making the company audit-ready at all times. In order to save time and effort, Drata automates control monitoring and evidence collection for its customers.

Key Features:

• Alerts, evidence gathering, and monitoring can all be set to run automatically

• Helpis you maintain security and compliance.

• Automated asset tracking and improved processes will allow you to scale swiftly and safely.

• Drata's automation engine makes it easier than ever to achieve compliance.

Cost:

You can contact the sales team for the quote.

26. Okta

Okta Identity Suite is a comprehensive identity management solution for organizations in many different sectors, including but not limited to information technology (IT), consumer services, energy and utilities, telecommunications, and more.

Key Features:

• Access requests, accounts, compliance, provisioning, users, and multi-factor authentication are just a few of the key features.

• With Okta's lifecycle management features, businesses can streamline their processes for both internal and external customers.

• The Okta Identity Suite also includes a number of tools for managing mobile devices and securing networks.

• It's also compatible with a wide range of third-party software, including Salesforce, Splunk, Office 365, Slack, and more.

Cost:

You can contact the sales team for the quote.

27. iAuditor

The iAuditor app from SafetyCulture is an inspection checklist tool that lets users create checklists, submit reports, and carry out audits all from the convenience of a tablet or smartphone. Safety audits and inspections are a common enough occurrence across many different businesses that a solution was developed to accommodate them all.

Key Features:

• With iAuditor, customers are able to digitally record and save audit history, allowing them to build and monitor trends over time.

• Using this tool, you may make digital safety audit forms and make templates for interactive checklists.

• iAuditor allows users to recreate paper forms in digital format.

• It is an inspection and problem-tracking tool that encourages users to fix issues as they are discovered.

Cost:

Free, Premium costs $16, and for Enterprise you can contact the sales team.

28. Netwrix Auditor

A security solution, Netwrix Auditor assists businesses in meeting regulatory and operational requirements. By providing you with actionable intelligence about changes, access, and configurations, Netwrix solutions provide you with complete command of your hybrid IT infrastructure.

Key Features:

• You can prevent data breaches by minimizing risk and detecting threats quickly with the help of Netwrix products.

• The software is available for on-premise or cloud deployment.

• You can contact the support team via phone, email, or the customer portal. Netwrix is licensed on a subscription basis.

• The vast majority of software requires individual user licenses.

Cost:

You can contact the sales team for the quote.

29. Nintex

When it comes to workflow management, Nintex is the way to go for a wide range of sectors, including energy, health, life sciences, finance, and government. Services like customer support, HR, and IT can all benefit from using this (IT). The software is cloud- and on-premises-ready.

Key Features:

• Nintex allows users to automate and streamline processes while also benefiting from document generation, mapping, a mobile app builder, and the creation of custom forms.

• Connectors for application programming interfaces facilitate sharing of information with other programs for commercial purposes.

• In addition to providing tools for predictive analytics and content management, Nintex also lets users access and evaluate information hidden in unstructured data.

Cost:

Pro costs $25,000 USD /year, Premium costs $50,000 USD /year.

30. Cority

For multinational manufacturers of all sizes, Cority has developed a cloud-based enterprise quality management and compliance software solution. Manufacturers in the automobile, aerospace and defense, oil and gas, medical device product, and other discrete industries can benefit from this.

Key Features:

• Cority is a centralised data repository that provides real-time production updates in addition to analysis of indicators linked to performance and risk.

• Cority's extensive SaaS platform facilitates the safe management of EHS data across offices, regions, and countries.

• Cority is trusted by over 1,300 corporate organisations in 77 countries to maintain worldwide compliance

• It reduces risk, standardise processes, propels operational excellence, and protects the health, safety, and productivity of its workforce.

Cost:

You can contact the sales team for the quote.

31. HSI Donesafe

Donesafe is a cloud-based, all-inclusive GRC management software system that links employees in a company. Donesafe works with businesses of all sizes and in a wide variety of fields. Their web-based system is compatible with any modern web browser, and it can even be used in offline mode with iOS and Android apps. Compliance, health, safety, environmental, and other features like supplier and visitor management are all taken care of by the Donesafe EHS Management package.

Key Features:

• It is possible to use "out-of-the-box" or pre-configured templates or to create one's own templates that are tailored to the needs of a particular business.

• Donesafe facilitates real-time EHS data entry, retrieval, and reporting for businesses. Risks can be evaluated and controlled, hazards and accidents reported, contractors managed, training scheduled, programs audited, and much more.

• Donesafe has translated user interfaces for 15 languages so far, and that number is expected to expand.

Cost:

You can contact the sales team for the quote.

32. QT9 qms

Quality Management Systems (QMS) like QT9 Quality Management Software are widely used by businesses to ensure they meet regulatory requirements like ISO and FDA. Both local installation and cloud hosting are options for this tool. The device allows users to switch from manual record-keeping to automated computerised processes. The software is useful for both service and manufacturing businesses since it facilitates daily operations and promotes complete transparency.

Key Features:

• Email notifications can be set up in QT9 Quality Management Software to ensure that team members stay on track to complete assigned tasks in a timely manner.

• As an added bonus, the QMS allows users to keep digital tabs on nonconforming items, employee remedial actions, document control, training, and other quality modules.

• Quality managers have access to a module approval mechanism within the programme to validate or reject employee project work.

• In order to expedite the approval process, quality assurance managers might use electronic signatures to send their teams final approvals on projects.

Cost:

You can contact the sales team for the quote.

33. Qualio

Qualio is a quality management system hosted in the cloud for businesses in the biological sciences. Faster product launches, increased income, and less risk are just some of the benefits that Qualio provides to the medical device, pharmaceutical, biotech, and contract industries.

Key Features:

• Qualio is used by over 500 firms in 80 countries to integrate and automate GxP, FDA, and ISO compliance.

• Using Qualio, you can consolidate your teams, processes, and data into a unified hub that fosters a quality-focused culture and improves your company's health, vitality, and competitiveness.

• With Qualio, you can include risk management into every step of the product development process.

Cost:

You can contact the sales team for the quote.

34. Resolver

The Governance Risk and Compliance software offered by Resolver assists GRC teams in transforming data into meaningful insight that can be used to mitigate risk and boost ROI. To create a more effective, efficient, and agile GRC tool, their software combines risk management, compliance and ethics, internal audit, issues and complaints management, and internal controls over financial reporting. You can select the risk intelligence platform relied on by GRC groups at over a thousand of the world's most successful businesses.

Key Features:

• It's a one-stop shop for handling risk avoidance and mitigation strategies, financial planning, and projections.

• Risks can be linked to actual events, allowing for more accurate estimates of potential outcomes. With this tool, you may put a number on the results of your risk-reduction efforts, see where your risk register is lacking, and learn where your risk assessments may have been too optimistic.

• Users have complete transparency into their operations, enabling them to make data-driven decisions based on the analysis of granular data.

• The desktop, tablet, and mobile versions of Resolver are all compatible with the cloud-based software.

• Features like as real-time continuous risk assessments, drag-and-drop dashboard customization, and automated risk workflows are essential.

Cost:

You can contact the sales team for the quote.

35. Metacompliance

You may automate your policy management life cycle using Metacompliance software, which also delivers the "evidential weight" necessary to safeguard businesses against risks to their brand equity and public standing.

Key Features:

• Their cloud-based policy management platform helps businesses track and show how their awareness is growing

• It identifies problem areas before they become a threat to security and compliance.

• Simple anti-phishing software that raises awareness among workers is a powerful weapon against phishing and ransomware.

• Prove to auditors and authorities that you are following the rules by keeping track of changes and conducting regular risk assessments.

Cost:

You can contact the sales team for the quote.

36. GRC Toolbox

For managing governance, risk, and compliance, you can use GRC Toolbox. It consolidates separate tools that handle different aspects of GRC administration into one system. The strategy and implementation of GRC are better managed and more beneficial to the clientele as a whole.

Key Features:

• Risk management, ICS, compliance management, ISMS, information security, data protection, audit management, contract management, and business continuity planning are all features of the GRC Toolbox (BCM).

• The GRC Toolbox is a collection of resources that aids groups in doing tasks such as monitoring controls, managing policies and contracts, and proving they are in accordance with applicable laws, regulations, and security standards.

• Insurance firms, banks and other financial service providers, government agencies, the automotive sector, the energy sector, healthcare providers, manufacturers, and traders can all benefit from the GRC Toolbox.

Cost:

You can contact the sales team for the quote.

37. ViClarity

In addition to its prominent position in the financial services and healthcare sectors, ViClarity's clientele includes organizations from the manufacturing, retail, educational, nonprofit, and other sectors. Easy to use and implement, the ViClarity platform allows you to digitally replicate your existing manual processes, allowing for streamlined audit, risk, and compliance monitoring and management.

Key Features:

• In addition to assisting with risk and compliance issues, the automation and reporting features of ViClarity's audit and compliance software make it much simpler to keep an eye on your compliance initiative.

• Automation in the areas of governance, risk, and compliance guarantees that businesses in a wide variety of sectors adhere to accepted procedures.

Cost:

You can contact the sales team for the quote.

38. ZenGRC

ZenGRC is a governance, risk, and compliance (GRC) management solution that can be used both in the cloud and on-premise. Companies of various sizes in the technology, retail, consumer products, healthcare, and financial sectors are among those it supports. Main functions include auditing, compliance, contract, and policy administration, risk analysis, and reporting.

Key Features:

• Users on information security, compliance, and internal auditing teams all benefit from ZenGRC.

• It gives these groups the tools they need to control and implement audit and compliance procedures.

• It streamlines the process of collecting evidence for an audit, facilitating regular compliance, and facilitating the development of brand new compliance initiatives.

• Teamwork, role-based access, project management, file import/export, and dashboards are a few of the additional capabilities.

Cost:

You can contact the sales team for the quote.

39. Aptien

Aptien is an online service for overseeing things like office supplies and personnel. The software provides a central hub for managing a wide range of business concerns, including supplies, contracts, assets, and the like. Employee data, departmental engagement, and onboarding may all be managed centrally. In addition, teams can use it to keep track of meeting minutes, contracts, tasks, and projects.

Key Features:

• You have complete command over the whole risk management process, from spotting threats to deciding how to deal with them.

• Maintains the Risk Register and Risk Matrix for the client.

• Much like LEGO, Aptien can be bent and shaped to fit your specific risk management requirements.

• Get rid of your disorganised spreadsheets and papers.

• Allows teams to work together on mitigating threats, organising activities, taking minutes, etc.

Cost:

You can contact the sales team for the quote.

40. NAVEX

With NAVEX Global, firms can centralize their entire GRC programme on one scalable cloud-based platform, all while meeting regulatory requirements. Compliance with international regulations, ease of access to information, effective communication, and adaptability to change are all aspects that may be addressed with the help of the GRC software and training resources.

Key Features:

• PolicyTech is a policy management solution that provides centralised automation for tracking compliance and gauging employee knowledge in regards to company policies, including their accessibility, version control, and delivery.

• Reports, issues, and questions pertaining to ethics and compliance may be collected from all throughout your organisation and sent to a central database where they can be investigated and eventually resolved using EthicsPoint.

Cost:

You can contact the sales team for the quote.

Things to keep in mind while choosing Governance Risk and Compliance (GRC) Software

Set goals and evaluate requirements

Each relevant internal stakeholder should have a voice in determining your GRC requirements. Have each group take a look at their immediate and long-term requirements separately. From there, you can have the chiefs of different departments meet to discuss the organization as a whole and what it needs.

Assess Vendors And GRC Tools

You can begin your search for GRC tool providers once you have a firm grasp of your needs. Complete a thorough online search and vendor screening before initiating contact. You can learn more about the specific fields or types of problems that their program solves by exploring their website.

Scalability

The volume and complexity of your data will rise as time goes on and your business expands. Your company will be exposed to new dangers and must meet new regulations as a result.

That's why it's important to think about the long-term while selecting a GRC platform. You should be able to modify your approach with the help of the tool in order to meet any unforeseen challenges.

Conclusion

In this article, we discussed the different Governance Risk and Compliance (GRC) Software. Hope this has given you a clear idea and how you can choose your desired Governance Risk and Compliance (GRC) Software.

FAQs

What is Governance Risk and Compliance (GRC) Software?

GRC refers to an organization’s overall strategy and approach to governance, risk management, and regulatory compliance. In other words, GRC is the integrated set of skills that enable an organization to reliably achieve objectives, address uncertainty, and act with integrity, as described by the Open Compliance and Ethics Group (OCEG), the group responsible for coining the term.

Which are the challenges associated with GRC?

While GRC has many advantages, it also has certain drawbacks. Some of the more common ones are listed below.

• Data barriers can be made worse by the absence of a thorough GRC architecture.

• Without a company-wide structure in place, individual units may pursue their own agendas without taking the bigger picture into account.

• There is more possibility for error and more time is lost when tasks are handled manually.

• To enhance governance, lessen risks, and guarantee compliance, a firm transformation is sometimes necessary, even when a GRC framework is in place.

What are the three components of GRC?

The three components of GRC are:

• Governance is the process through which a company's top executives run operations in an honest and transparent manner in compliance with legally binding and widely accepted policies and procedures.

• Risk management is commonly used to describe the steps an organisation takes to recognize, classify, evaluate, and implement strategies to deal with potential threats to its operations as well as opportunities to improve those operations.

• Compliance is used to describe how well a company follows the rules and regulations set forth by both the company itself and any applicable government agencies or legislation.

Why is GRC required in the present day?

The complexity of modern enterprises necessitates a system that helps leaders pinpoint and oversee what matters most. Increasing the efficiency of people, processes, technologies, and infrastructures is essential to every successful firm, and this requires the capacity to integrate traditionally separate management functions into a unified discipline. To do this, GRC eliminates barriers within the organization and makes teamwork toward the company's strategic goals obligatory for all departments.

How to use GRC?

Negotiating with the vendor and coordinating data between the vendor's technical team and different departments, such as business, IT, security, compliance, and auditing, are common parts of a GRC software installation's typical complexity. The collaborative nature of the new GRC system may need some changes to the company's culture. To ensure its proper use by internal departments, GRC software must be tested on a regular basis. GRC software, like other key systems, should be included in DR plans for the technology to ensure it continues to function in the face of disruption.