Learn more about GRC implementation and decide which is the best kind of GRC software for your business.
Published 6 Oct 2022
Governance, Risk, and Compliance (GRC) software aim to help with managing a company’s leadership practices, risk management plans, and compliance with laws and regulations. A GRC software can also help in creating new policies for companies and organizations as needed, as well as analyzing existing ones to identify points for improvement.
iAuditor is a mobile-first leadership management, risk assessment, communication, and compliance software all in one platform. Use this GRC software to proactively improve your organization’s systems by creating and using checklists to track every aspect of your GRC implementation.
With iAuditor’s smart checklists, you can track company-wide incidents and measure or determine risks across the board. Create response sets for specific questions based on your needs and prompt deeper analyses for them with logic fields. After, you can store your checklists in the cloud and turn them into templates for easier use.
You can also download premade GRC management templates from the Public Library and edit them as you see fit. Alternatively, you can convert existing GRC checklists in Word, PDF, PowerPoint, or Excel you may have with iAuditor’s template converter and save it in the cloud for iAuditor use.
As you store all your checklists and reports in the cloud, you can align with your team members at any time and anywhere. Disseminate your checklists and reports with your team by customizing access controls to share data specifically with your team members or people outside your organization, ensuring the confidentiality of your data.
Best For: All industries and companies of different sizes
Pricing: Free for teams with ten members or less. Paid plans for larger groups or organizations start at $19 a month with a free 30-day trial.
Work on your business processing and GRC with ProcessGene. Manage and centralize your business processes and ensure business continuity by improving and analyzing your company policies, managing risks, and noting compliance in one GRC software. Use ProcessGene’s Multi-Org technology to use frameworks that encourage teams to think globally with a global baseline working with local variants.
Best For: Multi-subsidiary organizations
Pricing: Free trial for 30 days. Plans start at $30 per month per feature.
VComply is a unified GRC software with a focus on compliance. Institutions such as banks, government offices, nonprofits, and schools use VComply to digitize and improve their compliance documents, spreadsheets, and audits as a basis to improve compliance and monitor policy implementation. This GRC software can also be used to manage and change existing policies.
Best For: Large-scale essential establishments
Pricing: Starts at $1,199 per month.
For focusing on the risk aspect of GRC, consider using Resolver. This GRC software puts risk management at the forefront of its operations and, upon receiving data from its users, calculates their risks and their related business impact through its Risk Intelligence feature.
Best For: Managing risks with automation and Artificial Intelligence (AI)
Pricing: Dependent on the organization’s needs.
IBM Open Pages with Watson is a GRC software that uses AI to identify, manage, monitor, and report issues on risks, compliance, and governance. Automate your GRC processes easily and, with IBM’s other products, you can manage your whole enterprise from one device without the need for paper and while targeting specific business needs. You can also manage your data and privacy from this software as part of your audit and risk management.
Best For: Enterprises
Pricing: Dependent on the organization’s needs.
View your data at a glance with Fusion Risk Management. This GRC software organizes your data on your GRC-related policies and tasks into one place, then creates visual reports on them for easier understanding.
Best For: Visualizing data
EdApp by SafetyCulture is a mobile-first learning management system that can also be used as GRC software. Use EdApp to orient people in your team or organization on your GRC policies with existing courses, or create your own to suit your needs.
Best For: Learning more about GRC and GRC-related tasks
Pricing: Free plan available with limitations. Paid plans start at $1.95 per user per month.
Having GRC software is slowly becoming a need because of the benefits it brings. Most notably, a GRC software program is used to create, manage, and implement different policies and to ensure compliance with them. While this task can be done manually, having it digitized saves on paper, time, and money.
Using a GRC software platform also helps with managing, mitigating, and avoiding risks. With data in the cloud and summarized for you already, it becomes easier to understand and make decisions. This then increases the speed and accuracy of data analysis, ensuring more time goes to risk management and assessment.
Here is a comparison table to help you decide what can be the best GRC software for your needs:
iAuditor by SafetyCulture
All industries and companies of different sizes
Yes, for teams with ten members or less
Starts at $19 a month with a free 30-day trial
Yes, for 30 days
Starts at $30 per month per feature
Large-scale essential establishments
Starts at $1,199 per month
Managing risks with automation and AI
Dependent on the organization’s needs
IBM OpenPages with Watson
Fusion Risk Management
EdApp by SafetyCulture
Learning more about GRC and GRC-related tasks
Yes, but with limitations
Starts at $1.95 per user per month
Roselin Manawis is a content writer and researcher for SafetyCulture. She has experience in news writing and content marketing across different fields of discipline. Her background in Communication Arts enables her to leverage multimedia and improve the quality of her work. She also contributed as a research assistant for an international study and as a co-author for two books in 2020. With her informative articles, she aims to ignite digital transformation in workplaces around the world.
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