With so many different GRC tools available, figuring out which is right for you is tough. You know you want to help your organization manage overall governance, risk management strategies, and compliance with laws and regulations but you need a tool you can trust. I've got you! In this post I'll help make your choice easy, sharing my personal experiences using dozens of different GRC tools in a variety of companies, with my picks of the best GRC tools.
What are GRC tools?
GRC tools are software solutions that assist organizations in managing governance, risk management, and compliance. They integrate these three key areas to ensure that a company operates ethically, manages its risks effectively, and complies with all relevant laws and regulations. These tools come equipped with features for risk assessment, compliance tracking, audit management, and policy dissemination.
GRC software provides a clear view of an organization's risk landscape and compliance status, helping to prevent legal issues and financial losses. By streamlining GRC processes, these tools save time and resources, ensuring that a company’s activities align with its strategic goals and regulatory requirements. This leads to better overall efficiency and cost savings.
Alyne is a Software as a Service (SaaS) product that's designed to help businesses manage their Governance, Risk, and Compliance (GRC) processes. It's a tool that provides a comprehensive solution for risk assessment, policy management, and regulatory compliance.
The platform stands out for its user-friendly interface and robust functionality. Plus, it's not just for the big guys. Whether you're a small business or a large enterprise, Alyne can be tailored to suit your specific needs.
Alyne also includes the Risk Catalogue feature. It's a library of more than 800 risks that you can use to assess your own business. The Risk Detection feature is also helpful. It uses algorithms to identify potential risks. And let's not forget the Policy Binders. They help you manage all your policies in one place, which can save you time.
Alyne's integrations include key enterprise platforms such as SAP, Salesforce, and Oracle, ensuring that data flows are coherent and uninterrupted.
Pricing is available upon request.
Hyperproof is a cloud-based software that helps organizations manage their risk and compliance programs, track and mitigate risks, and monitor compliance across various standards and regulations.
I chose Hyperproof as one of the best governance, risk, and compliance software because of its user-friendly interface, flexible risk assessment framework, and advanced reporting capabilities. It allows you to streamline and automate my risk management processes and easily track compliance with various regulations. Plus, you can access a growing library of quickstart templates that cover SOC 2, ISO 27001, NIST 800-53, NIST CSF, NIST Privacy, PCI, SOX, and others.
Hyperproof offers a range of features that make it stand out from other GRC tools in the market. For example, its risk management functionality allows you to assess and prioritize risks, create and track risk mitigation plans, and monitor risk tolerance levels. The platform's audit management features make it easy to conduct and manage audits, automate workflows, track findings, and generate audit reports. I also appreciate its customizable dashboards and reporting features, which enable you to easily visualize and analyze compliance data and make informed decisions.
Integrations include Slack, Zoom, Microsoft Teams, Jira Software, Asana, AWS, Azure, GitHub, OneDrive, Dropbox, Drive, Google Drive, and other options. You can also sign up with Zapier (may require a separate paid plan) to create your own custom, no-code integrations with other tools not yet available natively with Hyperproof. Or sign up to be a Hyperproof developer to leverage their API and integrate that way.
Hyperproof offers pricing and a free demo upon request.
StandardFusion is an end-to-end GRC platform built to deliver the visibility, centralization, and collaboration that organizations need to mitigate information security risk and enable information security teams to drive revenue growth.
The platform is made up of six core solutions (Compliance, Risk, Audit, Vendor, Policy, and Incident), each built to be highly configurable with centralized data so that users can get visibility across all their compliance programs at any stage, and at any moment, produce an evidencable report to satisfy audits and stakeholders.
The old stigma of Risk, Compliance, and Information Security teams hindering growth, slowing productivity, impeding creativity, and generally getting in the way of everyone doing their job is gone. StandardFusion is empowering Information Security teams more than ever to grow revenue, speed up productivity, and gain new business.
The tool has a simplistic and powerful interface. Navigating within the software is straightforward and you can get anywhere you need in just a few clicks. Even users with limited knowledge of the software will catch on quickly with its intuitive layout. They also offer in-depth product training sessions and user guides. Technical support, in-person training, and dedicated success managers are all accessible as well.
StandardFusion’s modules allow users to efficiently manage their risks and compliance programs in a single location. You can assess and track the impact and likelihood of individual risks, mitigating actions, and summarize their outcomes using the report generator.
The software functions using a single set of common controls where users can create, manage, and monitor their controls and security programs to ensure compliance across multiple frameworks. With versatile auditing capabilities, you can perform both internal audits and track external audits to monitor compliance.
The software is framework agnostic and can manage compliance to multiple frameworks, including: ISO27001, SOC2, PCI DSS, NIST, FedRAMP, HIPAA and CCPA. StandardFusion has multiple existing integrations including: Jira, Confluence, Slack, OpenID, DUO, and Google Authenticator. We also have the option for single sign-on, integrations with UCF, and access to our API.
A final standout aspect of this tool is the transparent pricing structure, which can be tough to find in an enterprise-grade tool. Pricing terms are laid out upfront with no surprises. All plans grant users access to the full functionality of the platform, with additional included features and integrations as the plans scale.
StandardFusion pricing starts at $1500 for 3 users/month.
Corporater’s Business Management Platform built for integrated performance and GRC (GPRC) will enable your organization to move away from a compliance-driven only focus to a more risk-driven approach.
This is meant to align with your business performance and strategy execution. With a unified GRC platform, you can eliminate silos and get compliance-, performance-, and operations-centric outcomes.
The software provides individual and executive dashboard views, allowing for complete visibility into productivity and progress for all stakeholders. This can help improve decision-making, company culture and accountability, as well as ensure sustainability and maximize performance.
For compliance managers, Corporater’s integrated GRC platform provides a variety of features that are designed to facilitate company goals and activities, including automated policy development and management, control rationalization, compliance risk assessment, investigative case management, regulatory change management, as well as assessment and attestation.
With governance, performance management, risk management, and compliance management solutions, you can effectively create an integrated, automated, and mature GRC program for your company, one that is aligned with your strategic objectives. The key advantage here is that all Corporater solutions can be easily integrated, which means you can begin in one area—for example risk management, policy management or information security management —and then slowly add more solutions as your requirements evolve.
Corporater’s GRC platform helps ensure better corporate governance with a robust risk management framework, allowing for more powerful monitoring and automation capabilities. The platform also allows you to take a more proactive approach to risk management with risk identification, analysis, and monitoring support.
Pricing for Corporater is available upon request, and a free personalized demo is available.
Fusion Risk Management is a cloud-based, operational resilience software that functions on top of the Salesforce platform. The Fusion Framework helps organizations accelerate digital transformation of their governance, risk, and compliance programs by integrating data, systems, people, processes, services, and more under one platform.
The tool allows users to visualize their business, products, and services from a customer perspective, creating a map of day-to-day functions within your business. Through dependency visualization, organizations can recognize impacts and view relationships based on risks, processes, applications, and third-parties. Fusion also includes features for incident management and risk assessment.
The Fusion Framework adapts to changing priorities and methodologies used for any GRC program. Organizations can use Fusion's software for compliance management, as well as aligning to industry standards and regulations, improving visibility through predictive analytics, and increasing company engagement through automation.
The software is configurable through clicks, not code, and the guided workflow functionality makes it simple for any end-user to use the system.
Fusion Framework System’s integrations include Everbridge’s emergency notification system and risk intelligence platform, Send Word Now, Onsolve, and ServiceNow.
Pricing for Fusion Risk Management is available upon request.
ServiceNow was named a Leader in the 2019 Magic Quadrant for Integrated Risk Management. This GRC tool helps to drive a culture of risk management with a unified data environment by giving the front line easy access to insights and tasks via chat, mobile apps, and portals.
The Reporting and Analytics features for ServiceNow are thorough and intuitive to use, offering great flexibility for whatever metrics you need to track. Thus, they scored well in this section of the Features & Functions evaluation criteria.
A con to note is that the ServiceNow Governance Risk and Compliance software could use some sprucing up when it comes to their reporting tools, which lack advanced filters and would do well to broaden its available data visualization schemes. But as you can see from the above screenshot, it does have some very easy-to-read graphics to help you visualize basic data.
ServiceNow Governance Risk and Compliance offers custom pricing upon request and has a free demo.
MetricStream GRC streamlines compliance processes with standardized workflows and support for self-assessments, surveys, and issue remediation; it provides real-time insights into compliance processes through intuitive dashboards and charts, enabling decision-making.
A highlight of this software is its internal audit management facilities, which allow users to easily and intuitively streamline and automate the internal audit lifecycle. Additionally, the program has means to eliminate any duplications of work and information, saving users time.
MetricStream GRC lost a few points in the Value for Cost evaluation, as the license fee is quite a hefty price point. In addition to the one-time licensing fee there are also set-up fees and ongoing support fees that come into the mix, making the cost jump further.
Anyone worried about the deployment of a new GRC solution will revel in MetricStream’s uber-easy implementation and top tier customer support.
MetricStream GRC starts at $100,000 as a one-time license fee and has a free demo.
SAP GRC lets users integrate GRC processes on a common technology platform. Features include risk strategy and planning; a unified repository for process control information; audit planning, management, and performance; and exception detection and compliance checks.
SAP offers myriad first-party products and services available to integrate with their core GRC system. Users can customize the package they want and only pay for what they need. Thus, they scored well in the Integration segment of the evaluation.
A downside of the software is that it takes a while for implementation and training, leaving users to cope with a steep learning curve and minimal assistance-giving resources.
Users will enjoy the solution’s sophisticated way of producing a global repository, which is crucial for smooth GRC processes.
SAP GRC costs from $500-15,000 per license and has a free demo.
This integrated suite of compliance solutions—powered by BWise technology—is designed to optimize your regulatory compliance program. Collect, access, transfer, or share data assets and safeguard data privacy and data protection with the BWise GDPR Compliance Solution.
Nasdaq BWise does a lot of things well but there are a few standout features I want to note here, like its friendly customizability options that allow users to navigate different, unique compliance initiatives across the organization. Additionally, the integration with TeamMate is helpful for testing purposes.
The user interface is a bit gloomy and the organization of the data is quite stiff; though it does the trick, it looks neither modern nor appealing. Thus, Nasdaq BWise lost a few marks in the UX segment of the evaluation criteria.
A special shout-out goes to BWise’s seamless tracking of audit testing and results; if audits are giving you grief, this solution can help.
Nasdaq BWise offers pricing upon request and has a free demo.
This GRC tool enables a vantage point for third-party business disruptions. It also delivers enhanced UI and intuitive-to-navigate experience along with some robust risk intelligence reports.
SAI Global Compliance 360 excels in a few noteworthy features: A) the ability to execute company-wide training on current policies and procedures, and B) automating critical workflow steps for permissions, etc, in order to hold people accountable.
As far as navigation and ease of use is considered, SAI Global Compliance 360 is a bit complex and cluttered. Users may feel like they have to execute multiple clicks for tasks that should take one or two. So, they lost a few evaluation points in the Usability criteria section.
If you are looking for the perfect GRC fit, know that SAI Global Compliance 360 is a hugely flexible product; ask their support team to help customize exactly what you need.
SAI Global Compliance 360 offers custom pricing upon request and has a free demo.
Need expert help selecting the right Governance, Risk & Compliance (GRC) Software?
If you’re struggling to choose the right software, let us help you. Just share your needs in the form below and you’ll get free access to our dedicated software advisors who match and connect you with the best vendors for your needs.
Best GRC tool for overall compliance and risk management
Free demo available
|Pricing upon request||Website|
Best GRC tool for a library of quickstart templates (SOC 2, ISO 27001, PCI, SOX)
|Pricing upon request||Website|
Best GRC tool for internal audits
14-day free trial
Best for integrated performance and GRC
Free demo available
|Pricing upon request||Website|
Fusion Framework System
Best GRC tool for dependency visualization
Free demo available
|Pricing upon request||Website|
Best GRC automation tool
|Price upon request||Website|
Best GRC assessment tool
|Pricing upon request||Website|
Best GRC tool for first-party integrations
3 days free trial
Best GRC tool for visibility and oversight
|Offers pricing upon request||Website|
SAI Global Compliance 360
Best GRC tool for flexibility and customization
30 days free trial
|Offers custom pricing upon request||Website|
- IBM OpenPages
Best enterprise GRC tool
Best GRC tool for usability and user experience
- Navex RiskRate
Best GRC tool for risk management
Best GRC reporting tool
Best GRC tool for SAP customers
Best AI-powered GRC software
Set goals and share them with the team to ensure alignment
Best GRC tool for information security
Best GRC tool for cross-department collaboration
Best GRC tool for audit scheduling and management
Best for managing vendor risk
How I Picked The Best GRC Tools
I evaluated and compared the most popular GRC tools on the market, both for their reviews and user interface. Then I weighed factors that make a project management system a good option for project management, such as the ones that follow.
At a minimum, the tools on this list should have the following:
- Empower risk mitigation and protect organizations from critical threats as it relates to cyber security, IT risk, third-party risk management
- International regulatory requirements like GDPR
User Interface (UI)
Since this is a tool where you will centralize all your efforts, the interface plays a big role in easily finding information. The tools on this list have ways for you to easily navigate your way through the different views or dashboards that make good use of white space to present the information.
Is it easy to learn and master? This will impact the onboarding of new users onto the platform and make it easier for users to find information within the tool. I also look into the availability of good tech support, user support, tutorials, and training.
This criterion looks at all the ways in which the tool connects to other platforms. Therefore, I will lay out the details of pre-built integrations, third-party connectors, and custom integration options available.
In the end, we are all price sensitive to a certain degree. I will go into as many details as I can regarding the price of implementing these solutions. Additionally, I will disclose any information related to free trials or demos that you can access.
What Are The Benefits Of Using GRC Tools?
What Are The Common Features Of GRC Tools?
What are the key features in GRC software?
What is Integrated Risk Management (IRM)?
What’s The Average GRC Price?
Are There Any Open Source GRC Tools?
About Managing Risk In Information Systems
Managing risk in IT is the process by which companies navigate potential uncertainty and damages using software and tools specifically designed to help do so. IT GRC tools may help determine and mitigate risks associated with the use, ownership, operation, involvement, influence, and adoption of IT within a company and for all the users involved.
Risk governance in IT is generally considered to be one part of a larger, all-encompassing risk management strategy for the enterprise. IT risk management may involve being able to define digital assets, having the ability to apply and monitor controls over IT systems, determine risks based on business criticality or technical severity, imagine and evaluate various remediation options, and set risk thresholds for IT processes.
Information technology is constantly changing—evolving in scope, capabilities, and the laws that surround it. In that sense, compliance control is vital to ensure your processes are always up-to-date, particularly around security and privacy protocols.
Now that you've seen some of the best software, you should read about implementing compliance programs. We also have a great article that gives you twelve examples of project risk management strategies and one that gives you the steps on how to create a risk management plan.
Related tool lists:
- Project roadmap software
- Enterprise project management software platforms
- Business process management systems
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