Top 8 GRC Software in 2023

GRC software automation is a great help in arranging organizational tasks such as maintaining regulatory compliance and minimizing technical and physical risks, including financial, human capital, security, and property threats.

In today's world, where everything is transforming digitally, governance, risk, and compliance tools (GRC) are rapidly garnering greater attention. The business environment is always shifting, and as a result, the issues that businesses confront in a variety of areas, including enterprise risk management, vendor management, cybersecurity, and regulatory compliance, have evolved over the course of several years.

Enterprises have to monitor every facet of their operations that could affect their capacity to comply with various local, regional, national, and international legal standards to demonstrate that they are in compliance with all of these legal requirements.

GRC software can assist organizations in preparing for the possibility of a data breach by keeping them organized and delivering a perfect strategy that details how they will address vulnerabilities and communicate with the relevant stakeholders in the event of a breach.

The GRC tools are not one-size-fits-all kinds of stuff. A wide range of products and solutions are available in the market to meet the requirements of various kinds of businesses. Because of this, choosing a perfect GRC tool can be a little difficult for you.

However, if you do proper analysis, you can find a solution that satisfies all your requirements, both now and in the future. 

Some of the features to look for in any GRC software:

1. Accessibility: Because facilitating compliance and risk assessment in the day-to-day operations of a firm is the goal of installing the GRC solution; your entire team will be using it. As a result, it ought to have a high level of usability and be simple to include in the systems you already have.

2. Security: In this day and age, protecting one's data and practicing good cybersecurity practices are absolutely necessary. Your company puts itself at risk of incurring penalties and suffers reputational damage whenever there is a loss of client data or any vulnerabilities. As a result, you should take a significant passion for the ways in which a GRC product might assist your defense against threats.

3. Customizable: The enterprise should serve as the starting point for thinking about GRC solutions and initiatives. Even similarly sized businesses operating in the same sector can have very distinct requirements for their employees and customers. As a result, the GRC solution that your firm utilizes must take into account its particular requirements. Because of this, you should only select a tool that gives you complete control over its appearance and behavior.

4. Scalability: In the course of time, the volume and complexity of the data you handle expand. This increases the risk and regulatory requirements for your company. As a result, when selecting a GRC tool, you should consider future requirements. The tool should be able to accommodate any changes according to that. 

Before discussing the GRC tools, we will briefly explain Zluri here.

Zluri is a SaaS management platform that helps you to manage your organization's SaaS applications. It also helps you to stay compliant with ISO 27001, SOC 2, GDPR, and many other standards by providing compliance-related information on applications. Zluri helps you maintain compliance and make you audit-ready.

Zluri provides the security and compliance information that includes events; data shared information, compliance, and security probes for all the SaaS applications used in your organization.

Zluri gives comprehensive and auditable logs of key activities to keep you informed. All the collected data, such as SaaS-app usage metrics, will be retained indefinitely unless requested to be removed by you.

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8 Best GRC Tools Available In The Market

1. Scrut

Scrut is an all-in-one solution for compliance issues. An automation platform that monitors and collects proof of an organization's security measures around the clock while simplifying compliance to guarantee that audits will go smoothly.

It has a centralized database that displays all the infosec compliance standards and internal SOPs. It automatically matches the data to provisions that apply across multiple standards. This saves you money and time by getting rid of redundant and repetitive tasks.

Pros

• A structured road map for any engagements that are relevant to compliance correlates to faster customer acquisition. 

• A devoted customer success team that will assist you in prioritizing and de-prioritizing items in your compliance backlog.

2. Optial SmartStart

Optial SmartStart is the industry’s preeminent provider of corporate software solutions for Governance, Risk, and Compliance. Whether you have 10 seats or over 20,000 seats, the Optial GRC solutions will be able to accommodate your organization's GRC activities thanks to its utilization of workflows and frameworks across the organization.

Pros

• Compliance tracking and management

• The planning and auditing procedures are fantastic.

• Dashboards simplify the product’s experience.

• Easy to use.

Cons

• The majority of the software cannot be accessed on mobile devices.

3. ZenGRC

ZenGRC is an effective cloud-based tool for governance, risk, and appliance. It assists the organization in improving management compliance audits, organizational risks, and third-party risks. In addition to automating and simplifying compliance and risk management, ZenGRC tackles essential challenges at scale and may be tailored to meet the specific requirements of your company.

Pros

• ZenGRC streamlines the process of performing internal audits.

• Auditors can easily give feedback, ask questions, and submit evidence for review. ZenGRC's workflows are both very easy to use and very powerful.

• It reduces manual request tracking in excel. The audit report matrix helps management track active audits.

Cons

• The product requires creative thinking and workarounds.

• In order to be more helpful to users and provide value to clients, the tool requires various improvements as well as problem fixes.

4. Archer

Archer is a platform for integrated risk management that provides organizations with the ability to monitor performance as well as detect and evaluate operational hazards.

Pros

• It relieves worry because the assets are protected to the highest degree.

• For security assessments, results management, and overall governance, RSA Archer is an excellent choice. It personalizes enterprise discovery in the dashboard and reports.

• An assessment module and actions like mailing and alerting can be easily added to the software.

Cons

• The menus and field labels are terrible, and in many instances, they do not make sense.

• It is important to keep in mind that you will need to create additional documentation in order to make this tool accessible to end users.

• Reporting modules can be difficult to use. 

5. Hyperproof

Hyperproof, cloud-based GRC software is specifically designed to handle large-scale compliance processes. It streamlines the overall compliance process by providing pre-built frameworks and templates for quick set-up.

 It provides you with some specific features, such as automated evidence collecting and testing, task management to improve team cooperation, and audit readiness to ensure you're always ready for your auditor. With the help of Hyperproof, firms can increase their compliance efforts in order to better serve their consumers and support the company's overall objectives.

Pros

• It’s very easy to link controls to multiple frameworks in Hyperproof, and it works very well with integrations.

• Instead of relying on spreadsheets or static documents, a full program can be executed and modified in just a few minutes.

• It provides continuous oversight for the maintenance of regulatory compliance.

Cons

• No control remediation monitoring at now

6. Tugboat

Tugboat Logic helps streamline and automate the management of information security for businesses of all sizes.

It helps organizations in developing and implementing comprehensive security programs for their organizations, as well as preparing them for relevant industry certifications (SOC2, ISO 27001, GDPR, PCI DSS, and more).

Pros

• The system's usability and intelligence are big pluses. Integrations reduce manual work.

• Tugboat's audit modules save time and money over building custom processes.

• Policies, controls, procedures, and evidence are all linked together and arranged to make them easy to browse.

Cons

• It is not possible to submit a PDF or generate one using this system.

• The structure of the test is not very appealing.

7. ShieldRisk

ShieldRisk is a GRC automation platform that allows for the rapid and accurate assessment of the risk posed by third-party vendors. The platform is a single and unified platform that carries out audits of vendors on global security and regulatory framework.

Pros

• ShieldRisk AI analyses audits and advisory functions, saving time, accelerating data processing, and improving accuracy and vendor security insight.

• User-friendly interface and intuitive design of the functions.

8. Secureframe

Streamlining SOC 2 and ISO 27001 compliance is one of the ways that Secureframe helps hundreds of businesses better manage their governance, risk, and compliance. 

Secureframe monitors more than forty different services, including AWS, GCP, and Azure, and enables businesses to become compliant in a matter of weeks rather than months.

Pros

• Secureframe automatically collects audit data, provides security training, controls vendors, and monitors infrastructure.

• Easy-to-use platform for non-compliance/security experts.

• The software made it easier to collect evidence, manage vendors, make policies, and even train people about security.

Cons

• Setting everything up takes a significant amount of time from the team.

• The team is working hard to automate more of the operations, but there are still those that require manual efforts.