10 Best GRC Tools Reviews and Ratings: Factors to choose a GRC Tool

The challenges of efficiently running a business have transformed over the years. New tools, ideas, demands, technologies, and processes are introduced every day to boost efficiency and expedite growth. These developments introduce new risks and operational challenges. The need for a tool that minimizes security risks, ensures compliance, and streamlines processes is now.

GRC tools emerged to solve this. They helped with governance, dynamic risks, and compliance challenges.

What are GRC tools?

GRC (Governance, Risk, and Compliance) tools are software solutions that help organizations manage Governance, Risk, and Compliance activities. These tools centralize policy management, risk assessment, regulatory compliance tracking, and audit reporting.

Top 10 Governance, Risk, and Compliance (GRC) Tools

Here’s an in-depth evaluation of 8 GRC (Governance, Risk, and Compliance) software solutions available in the market, focusing on their capabilities in managing policies, assessing risk, controlling user access, and facilitating compliance processes.

1. Sprinto – beyond GRC

Sprinto is a compliance automation and integrated risk management solution. Its smart platform seamlessly integrates with your cloud infrastructure to thoughtfully connect people, process, and technology to give you an enhanced GRC experience. 

Sprinto helps you add momentum to GRC operations using automation tools – so that you are doing more than just maintaining records without doing anything manually. It is designed to mold however you customize collaboration and coordination workflows. 

Top features and capabilities

Advanced compliance programs: Launch high level compliance projects that are nuanced and facilitate granular control to give you a 360 degree picture of your overall posture

More flexibility: Align your security controls to business requirements and capabilities instead of using tools designed to fit it all. The magic mapping capability automatically maps your framework’s custom check to the right control

Integrated risk management: Maps risks to the right controls to reduce risk impact, minimize residual risks, and prevent failures. Produce detailed summary of all risks against selected frameworks 

Expert guided program: Unlike traditional GRC tools that are complex to configure and customize, Sprinto offers expert guide, time bound, and structured sessions to ensure sweeping implementation

Risk depth: Get a 360° view of risks to build custom compliance journeys, implement robust risk mitigation workflows, quantify risk impact using reference platform benchmarks

Scalability: Offers a comprehensive suite of compliance tools that eliminate silos and the need to purchase additional resources. Adaptive automation capabilities help to meet changing requirements and changing compliance requirements

Continuous compliance: Build a fully connected and end to end automated compliance program that monitors controls for non compliance, identifies anomalies, triggers remediation, and collects evidence in an audit friendly way

Pricing: Talk to Sprinto’s GRC Experts Now

Industries: Serves all industries 

G2 rating: 4.8/5

2. AuditBoard 

AuditBoard is one of the best GRC Tool which is a connected platform that integrates risk management, compliance requirements, and decision-making. It collaborates with teams and stakeholders to view risks across the ecosystem, boosts performance by eliminating repeat tasks, and helps to visualize risks to enhance decision-making. It simplifies vendor management tasks like onboarding, assessing risks using questionnaires, and monitoring. 

Top features and capabilities

Compliance audits: A centralized dashboard to view key metrics, auditable entities, analyze risks, and discover gaps. Easily generate reports, assign owners for actionable, automate follow-ups, and maintain an easy to access audit trail. 

Fraud risk management: Real-time data helps assign tasks with a dynamic environment, centralizes stakeholder activities, and prioritizes for faster patch implementation.

SOX compliance: Gain a single source of truth for SOX controls or issues, reduce control testing repeat tasks, and map supporting evidence. Define control owners, customize permissions, and automate stakeholder requests. 

Pricing: Fill out a form in the Schedule a Demo page to get pricing details.

Industries: Business Services, Education, Government, Non-Profit, Energy, Materials, Finance, Healthcare, Manufacturing, Media, Real Estate, Retail, IT, and Travel. 

G2 rating: 4.7/5

3. LogicGate

LogicGate is among the top-tier GRC solutions available which offers a suite of applications with predictive technology to empower risk professionals to cater to a continuously evolving market. 

Top features and capabilities

Shorter audit cycle: Pre-built audit management allows users to identify and document audit tables and improve efficiency by connecting GRC applications. Map internal controls to audit requirements and assign owners on the go. Visualize audit status using pre-built report, auto create report, and gain centralized control of the evidence repository. 

Policy management: Automate compliance and policy acknowledgment for new employees. Automate policy creation and approval using a shared document repository. Link policies to control framework to identify gaps and revise policies. Track policies using pre-built dashboard. 

Cyber risk management: Gain deep visibility into cybersecurity risks by connecting risks, critical assets, and controls. View unit wise risks to prioritize responses and leverage insights.

Operational resilience: Use a centralized repository to track, build, test response plans to prepare and recover from disasters. Automate incident scoring and mitigation efforts to resolve incidents. The incident management application allows stakeholders to create reports using publicly available forms. 

Industries: Software, FinTech, Health, Banking, Telecom, Investment, Insurance, Oil & Gas, Alternative Energy

G2 rating: 4.6/5

4. Hyperproof 

Hyperproof is recognized as an exemplary GRC platform which is a compliance management solution that helps users to manage compliance and risks. Teams can reduce their security efforts by organizing, standardizing, and automating their tasks.

Top features and capabilities

Streamline compliance deliverables: Leverage a library of popular compliance or upload a custom firework, meet requirements for overlapping framework requirements, and predict compliance activity workload. Use filters to gain insight into work progress, task owners, and project adjustment needs. 

Automate workflows: Assign or reassign controls, automate evidence collection processes, create custom cadence to review and notify task owners to complete control activities, and continuously monitor controls to mitigate risks. 

Evidence management: Centralize evidence collection, map it to specific controls, and share it with stakeholders.  Automate collection of backup, encryption, code change, and more settings. Label evidence by requirement to reduce legal risk. 

Continuous compliance: Identify, assess, prioritize, and document risks across functions. Customize risk scoring criteria, view risk mitigation completion level, and auto update risk health level status. 

Pricing: Offers 3 editions – professional, enterprise and business. Fill out a form in the request for a demo page to get pricing details. 

Industries: Information Technology and Services, Computer Software

G2 rating: 4.6/5

5. ZenGRC 

ZenGRC is a cloud based risk and compliance management solution that helps businesses with continuous monitoring and easily manages audits using a customizable, centralized platform. Users can manage vendor risks using questionnaires and access pre-built libraries of regulations. 

Top features and capabilities

Single source of truth: Consolidate assets, objectives, and controls to facilitate easy reporting, browsing, and navigating. Meet the requirement for multiple frameworks using a single mapped control. Customize tracking, collecting, and managing information processes for risk audits. 

Analytics: Compare peer groups based on firmographic data, framework, and IT environment. Assess adjustment requirements by comparing performance with peer groups and get alerts to view controls with most issues. 

Automation: Automate review process, notifications, approval actions, data collection for audits, and use a custom task management system to auto-assign and track progress.  

Collaboration: Easily collaborate and recognize stakeholders using the quick glance feature. Gain transparency and flexibility using cross functional workflows to manage risk and compliance actionables. Pre-built integration enables audit and compliance teams to easily complete compliance and audit tasks. 

Pricing: Fill out a form in the Get a Demo page to get pricing details.

Industries: Technology, Finance, Hospitality, Healthcare, Government, Education, Retail, Media, Insurance, Manufacturing, Oil & Gas

G2 rating: 4.4/5

6. Workiva 

Workiva is renowned as one of the finest GRC solutions which is a transparent, cloud based reporting solution for regulatory, financial, and ESG. it streamlines reporting processes, disclosure challenges, and connects teams with data to simplify complex reporting tasks. 

Top features and capabilities

SOX compliance: Automate manual evidence requests, markup attributes, and more gain insight into delays, updates, and status reports using a real-time dashboard. Link control description, narrations,and account balances to sources and errors using a single source of truth.

Management reporting: Automate process gathering for financial statements, mitigate risks by connecting data to source, and leverage connected reporting for faster returns. 

Audit management: Automate evidence gathering, engagement reporting, certification, and more. Access population sets and see exceptions, link control data to audit programs for better decision-making, and efficiently allocate resources to support audit efforts. View minor audit details and break down complicated data. 

Pricing: Fill out a form in the Get a Demo page to get pricing details.

Industries: Banking, Energy, Government, Education, Insurance, Investments.

G2 rating: 4.5/5

7. Ncontracts 

Ncontracts offers integrated risk management solutions that combine vendor, compliance, and finding management to drive efficiency and enhance decision-making. Users can build business-specific modules or create a complete risk management system. 

Top features and capabilities

Audit management: Access a pre-built library of customizable templates to generate audit objectives and checklists. Generate reports and track status from the audit app. Use the audit tracking solution to assess risk and measure compliance. 

Business continuity: Offers configurable analysis and remediation capabilities. Enables users to review recovery strategies and efforts, analyze impacts, and plan for a number of possibilities. 

Compliance management: Triggers alerts to notify regulatory updates, facilitates robust reporting, simplifies search and filtering. Assess, manage, and track risks using the compliance monitoring tool. 

Risk management: Online enterprise risk management tool enables custom risk scoring, ERM program building, analysis and reporting, KPI evaluation, process automation, and risk measurement. 

Pricing: Fill out a form in the Request a Demo page to get pricing details.

Industries: Banking, Credit Unions, Mortgage Lenders, Fintech 

G2 rating: 4.6/5

8. Diligent HighBond

Diligent HighBond enhances decision-making, strengthens governance practices, and integrates data into a single source of truth. It leverages analytics and robotic process automation to offer useful insight on risk, compliance, audit, and ESG from a centralized platform. 

Top features and capabilities

Better governance: Enables users to run remote meetings, leverage security intelligence to identify gaps, manage entities from a centralized record, and benchmark reputation against peers. 

Risk management: Use a centralized platform to identify, assess, and mitigate risks. Consolidates risk data across internal controls, compliance, and teams, and automates workflows. Provides real time reporting to provide meaningful insights. 

Audit management: Centralize, streamline, and automate audit workflows for improved efficiency. Real-time visibility across audits helps to identify, manage, and remediate issues. Connects data sources, tracks KPIs, and controls processes to eliminate strategic risks. 

Pricing: Fill out a form in the Request a Demo page to get pricing details.

Industries: Finance, Legal, Telecom, Energy, Government, Healthcare, Education, Investor, Manufacturing, Non-Profit, Private Equity, Real Estate, Retail, Technology, Transportation

G2 rating: 4.3/5

9. Apptega 

Apptega is a comprehensive cyber security and compliance management platform. It helps users to access, build, and report on cyber security and compliance and meet challenges related to it. 

Top features and capabilities

Assessment manager: Add, remove, or modify questions using customizable templates and quickly complete readiness assessment using the questionnaire-based assessment manager. Create evidence documents for each control, easily create PDF for status reports, and use the results to manage workflows, monitor progress and create more reports. 

Manage audits: Share relevant information with auditors using role based access, streamline auditing process with easy auditor collaboration, and maintain evidence in a single system. Visualize audit progress, manage gaps in evidence creation, and maintain deadlines using in-app assignments and notification. 

Risk manager: View all risks from a centralized dashboard, link risks to controls to understand framework level status and gaps. Customize risk reports based on stakeholder, use insights from the risk analytics dashboard to make better decisions, and drill down into details for each risk. 

Price: Fill out a form in the Get Demo page to get pricing details. 

Industries: Not mentioned 

G2 rating: 4.7/5

Also, find out how to automate GRC.

10.OneTrust GRC and Security Assurance Cloud

OneTrust GRC and Security Assurance Cloud is an integrated risk solution that consolidates third-party risk management, audit management, breach documentation, and workflow management. 

OneTrust’s cloud-based GRC tool empowers your business operations, helps you make informed decisions based on potential risks, and operationalizes governance activities. 

It helps you adhere to compliance frameworks like CCPA, GDPR, ISO 27701, SOC 2, PCIS DDS, and more.

Top features and capabilities

Privacy management: Helps users adhere to regulatory compliance with real-time regulatory intelligence, automate manual processes related to privacy management, and adequately prepare for incidents

Internal audit management: Streamline compliance issues, automate certification life cycle management, measure risks, and centrally manage incidents 

Data security: Ensure data governance using a centralized tool that consolidates privacy, security, and data integrity while providing deep visibility to help you reduce data risks

 Price: Fill out a form in the Get Demo page to get pricing details. 

Industries: Not mentioned 

G2 rating: 4.5/5

How to Choose an GRC software

In order to qualify as a governance risk and compliance software, it must have the following capabilities:

• Analyze, categorize, and mitigate risks: Manage operational risks and compliance risks across the ecosystem from a unified platform. Provide tools to analyze, detect, mitigate, and document risks
• Collaboration: Enable employees, auditors, and stakeholders to share information and communicate policies and business goals
• Real-time alerts: Apart from real-time monitoring, real-time alerting capabilities are a crucial feature that helps security teams proactively manage non compliance issue
• Incident response system: The GRC management software should offer disaster and business continuity management capabilities
• Train employees: Set up workshops or awareness programs to make employees aware of business processes related to security and governance.

Recommended: Detailed guide to GRC compliance process

Sprinto: Beyond GRC

While GRC solutions offer automation in governance implementation and customization, the efficiency of those automation engines are always questionable. Is there a better way to approach this? Yes. The Sprinto way.

Sprinto is a compliance automation platform that helps organizations automate every repeatable task in the compliance process across multiple frameworks. In comparison, GRC tools take between 6-9 months to implement compliance processes while Sprinto achieved it in 14 business days.

While we are confident in our automation, we still recommend our clients to periodically check the compliance score with the centralized dashboard to ensure that compliance goals are met consistently. This leaves no scope for error. Sprinto scores your risks based on the level of severity, provides a single dashboard that collaborates everything into a single view, continuously checks for non-compliance to alert relevant users, and trains your employees. Talk to our experts to know how we can help you.

FAQs

What is the best GRC software?

The best GRC software is the one that offers functionalities specific to your business challenges. Some tools trusted by users are Sprinto, AuditBoard, and LogicGate. 

What is a GRC solution?

A GRC solution is a tool that helps organizations align IT activities to business goals, manage risk effectively, and stay in compliance with government and industry regulations. It works by eliminating the silos associated with managing data or process governance, regulatory compliance, and operational or security risks, into a single consolidated system. It helps users utilize information on data assets, business infrastructure, mobile applications, virtual systems, and cloud applications.

What are the components of GRC?

GRC has three main components – Governance (management strategy to control the organization), Risk (processes to identify and mitigate risks), and Compliance (following regulatory requirements).

How do GRC tools work?

GRC tools offer a centralized platform that helps businesses oversee compliance programs, track audit progress, streamline workflows, conduct risk assessments, and manage security risks. 

How do you implement a GRC tool?

You can implement GRC tools by following these steps: 

1. Define scope and objectives
2. Conduct risk assessments
3. Define roles and responsibilities
4. Conduct training programs
5. Migrate data from existing systems
6. Configure and customize
7. Document implementation process and corrective actions
8. Ensure continuous improvement