Examine the best GRC platforms to ensure maximum security and compliance while minimizing business risks. Governance, risk, and compliance comprise GRC. Organizations must implement this strategy to comply with government and industry regulations while managing risks. GRC is a collection of practices and processes that allows you to structurally align IT with business objectives. With its assistance, organizations can manage prospective IT and security risks economically. This policy enhances organizational performance and decision-making by ensuring compliance with regulatory requirements. With the proper GRC platform, you can achieve the best results with the least manual labor, despite the complexity of these tasks.
What’s GRC Platform & How Does It Work?
GRC platforms are solutions or app frameworks that can implement and manage an enterprise’s GRC program. Using these tools, companies can map, distribute, and create their governance policies. Additionally, the solutions enable you to manage compliance and regulatory requirements. Typically, GRC software apps are SaaS products with intricate installation procedures. For that, organizations must engage in vendor negotiations. There is also data coordination between multiple vendors and the organization, such as the technical, security, compliance, IT, and business teams. Training is provided to all GRC users for optimal usability and maximum benefit. Occasionally, the work culture must be altered to accommodate the collaborative character of GRC apps. Additionally, the platform is tested regularly to ensure that it functions correctly. In addition to being included in the catastrophe recovery plans for continued use during disruptive events, the platforms are also included.
Use A GRC Platform Reasons
- Monitor assets and establish framework standards.
- Make fast, data-driven decisions.
- Streamline operations based on work ethics and culture.
- Encourage moral decision-making.
- Create a wholesome environment.
- Enhanced security through comprehensive data security procedures.
- Protect the data and privacy of customers.
- Comply with industry and data privacy regulations.
How To Pick The Best GRC Platform?
Depending on your organizational needs, you must locate a GRC platform that meets the following criteria.
- The evaluation of vendors is a crucial phase in this process. Regarding their requirements, all stakeholders should be on the same page.
- Ensure that the app is user-friendly and has no severe learning curve. In addition, it should have a user interface that facilitates efficient use by every team member.
- Given that security is a top priority for GRC, the platform you choose must not pose any internal or external security risks.
- If your GRC solution is scalable, business expansion won’t be a problem.
- Customizability is another essential factor to consider when selecting a GRC platform so that it can be tailored to your requirements.
- To be prepared for inclement weather, it is also essential to consider vendor support.
- Choose a cost-effective solution for your business to realize a return on investment without compromising security.
- Choose a reputable platform because security and compliance issues are involved.
Now we will examine the best GRC platforms from which to choose.
Best GRC Platform Options
As we curated, the best GRC Platform options are listed below.
1. ZenGRC
ZenGRC is a management platform for compliance and risk for all organizations. It provides a comprehensive view of control environments so that critical tasks can be addressed. Companies can provide their security and compliance teams across the business with a unified experience by implementing ZenGRC.
2. Diligent
Through increased transparency and data integration, Diligent, a flexible GRC platform, helps you make a greater impact on your decision-making. This digital solution transforms how companies collect, analyze, and use data. Additionally, Diligent provides the necessary support to organizations to improve their performance for their stakeholders, employees, shareholders, and the greater community.
3. Predict360
Predict360 is an integrated GRC platform for risk management and compliance. It employs AI to automate processes and optimize workflows. This app enables businesses to maximize profitability, productivity, and innovation through risk prediction. Additionally, you can recognize, quantify, and mitigate risks. Regardless of the scale of your company, you can use this intuitive and automated software to its fullest extent.
4. OneTrust
The OneTrust risk management platform helps you confidently confront all challenges and uncertainties. This should be your go-to option for government policy, security assurance, IT risk management, and audit management. This platform also makes your organization and supply chain resistant to cyberattacks and global security threats. With this platform, businesses can reduce risks associated with the third-party lifecycle and take complete control of issue management.
5. SAI360
Are you searching for software to prevent disruptions via precise surveillance and management? With its variety of integrations, SAI360 helps you construct a resilient organization. This platform offers a unified perspective of enterprise risk management. Consequently, you can rapidly implement the GRC program using pre-configured modules. In addition, SAI360 facilitates the global operationalization of GRC with pre-mapped standards and controls.
6. CyberStrong
Using apps such as CyberStrong, organizations can easily IT risk and integrate cybersecurity and compliance functions in a single location. This comprehensive platform combines technology, process, and data to automate, streamline, and integrate strategic and operational processes. CyberStrong also eliminates manual labor and gives cyber risk teams and executives real-time insights.
7. LogicGate
If your organization desires to identify risks at the earliest possible stage and convert them into opportunities, LogicGate is the optimal solution. This platform enables the creation of no-code procedures to aid in risk-related decision-making. In addition, LogicGate allows you to set up, manage, and improve your GRC program, regardless of your level of experience in the field.
8. MetricStream
When monitoring and coordinating multiple GRC activities, robust platforms such as MetricStream are required. This exhaustive solution is appropriate for global businesses and their ecosystems. In addition, MetricStream provides a comprehensive view of Third-Party risks and business performance to provide valuable intelligence.
9. LogicManager
Are you seeking a GRC solution to improve organizational performance and increase team productivity? LogicManager is an adaptable and user-friendly risk management software. With more than 50 third-party apps, LogicManager also supports no-code integration.
Consider The Following:
The Bottom Line:
GRC is of the uttermost importance in the business world, given the current state of cybersecurity and data compliance. A robust GRC platform will allow you to automate and manage all associated processes. All of the solutions mentioned above are robust and feature-rich. However, you may need to test these separately to determine the best fit for your organization.