Looking to find the best GRC software for your business? We’re here to help.
With so many different options out there, and with so many different features, deciding which GRC software to go with can feel like a daunting task.
In this handy guide, we outline everything you need to know about GRC software and tips for finding the best solution for your organisational needs.
To get started, you can simply use our free comparison tool that will guide you through the very best solutions based on your answers. Within a few minutes, you can navigate through the complex web of GRC and get set-up with the most suitable solution for your needs. Our team can also arrange software demos and implementation so you get the most out of any software you choose.
Compare GRC software now.
What is GRC Software?
GRC software stands for “governance, risk and compliance” and relates to the IT systems used to meet regulatory standards. This helps ensure organisational processes operate to a high standard and limit the risk of danger to people or planet.
Governance, risk and compliance can be a complicated task, especially for large organisations that span across multiple territories. Software helps to streamline the management and provide transparency in whether or not specific metrics are being met.
This means conducting internal audits becomes much easier if organisations need to review an incident or if they want to review their overall success against internal benchmarks.
Comparing GRC Software
Choosing the right GRC software is an important business decision. Changing solutions can be a timely and costly process, and something all leadership teams would want to avoid.
The right GRC product can instantly help improve compliance, streamline processes and provide a wealth of invaluable data that can be integral to future business decisions and roadmaps.
Below are some tips for finding the best GRC solutions for your specific requirements.
Price will undoubtedly be a factor. GRC solutions range in price quite significantly, largely depending on what features and systems you require.
Some software may have set tiered pricing (e.g. based on usage), whilst other solutions may opt for custom pricing based on a specific customer’s needs. It’s always worth having a budget in mind to help start your search, as this can quickly exclude certain products.
GRC features will vary from product to product. The scale and complexities of your organisation will likely define what features you need. You may want to think about features that you not only need today, but ones that you may require further down the road. Having software that can scale with your business needs is invaluable in terms of saving time and money in the long run.
Common features include the ability to manage uploaded content, user information, analytics, auditing tools, compliance management and exportable reports.
Support will vary from one product to another. Some software will use live chats to answer questions, whilst others may offer a dedicated account manager. Depending on how comfortable you feel with the software may dictate if you want to opt for a solution that offers more support.
Security needs to be a priority for any GRC solution. Even cheaper products need to demonstrate they take security seriously. GRC systems will be handling organisational data, some of which may be very sensitive, so ensuring this is safe is paramount.
Products should be able to explain how they keep data safe to help you feel confident in their security.
Ease of Use
It’s also important to think about who is using the software within your organisation. If you require employees to use it on a frequent basis, the user experience may influence which is the easiest to implement within the business.
Some software can be really useful but requires technical knowledge and skill, which employees in the organisation may not have. This could lead to errors and mistakes in data input.
This also relates to the importance of onboarding and ensuring employees understand how to use GRC software within the business.
A demo or free trial can be really effective at understanding which software naturally feels like the best fit. Demos can be useful as it usually involves someone guiding you through the product, providing opportunities to ask questions and get a solid understanding of how everything works.
Similarly, free trials are better for anyone who just wants to explore the product on their own and get a feel for how everything works.
Some products may come with a mobile app. This type of feature may be particularly attractive if you require staff to log results out of the office. It may not be feasible to input raw data on a computer in certain settings, so mobile apps could help improve the overall usability for you and your staff.
Learn More with GoMarketWise
Here at SustainIt, our tool GoMarketWise helps businesses find the best EHS, sustainability and GRC software.
By asking you the right questions, the tool gets straight to the heart of your requirements, before comparing a wide range of software to present you with a scored list of solutions. By putting you, the customer, directly in the driving seat and reducing the software selection process down to a series of straightforward questions, GoMarketWise greatly reduces time spent undertaking background research and empowers you to make a more informed decision.
Once you have your results, SustainIt can work more closely with your organisation to better understand your business case and arrange product demos, before eventually coming to an informed and enlightened decision with you on software selection.
Start Your Software Selection Survey Now