6 GRC Commercial Tools for Compliance and Risk Management You Should Know About

Introduction

In today's complex regulatory landscape, organizations face increasing challenges in managing compliance, mitigating risks, and ensuring robust governance. This article explores six cutting-edge commercial Governance, Risk, and Compliance (GRC) tools that are revolutionizing how businesses approach these critical areas. From streamlining compliance processes to automating risk assessments, these tools offer comprehensive solutions for organizations of all sizes.

Compliance Scorecard is a game-changer for Managed Service Providers (MSPs) looking to integrate compliance seamlessly into their daily operations. This Governance as a Service (GaaS) platform offers:

• Tailored insights and solutions for simplifying the entire compliance process
• Streamlined policy drafting, implementation, and end-user adoption
• Consolidated compliance-related activities in a single platform
• Assurance that policies are properly Aligned, Authorized, Adopted, and Assessed

By focusing on making compliance an integral part of operations rather than a reactive measure, Compliance Scorecard enables MSPs to stay ahead of evolving standards and maintain a robust compliance framework effortlessly.

Verity stands out as a comprehensive compliance management tool trusted by the Government of Canada. Its key features include:

• Centralized platform for managing controls, risk assessments, and policies
• Plan of Action for defining risk mitigation tasks and tracking resource allocation
• Risk Registry and Catalog for identifying, tracking, and assessing risks
• Robust access control with role-based permissions and multifactor authentication
• Customizable frameworks and multilingual support

Verity's holistic approach to GRC makes it an excellent choice for organizations seeking to streamline their compliance and risk management processes while maintaining a high level of security and control.

FutureFeed is tailored for organizations aiming to achieve and demonstrate compliance with NIST 800-171 and CMMC cybersecurity requirements. This tool offers:

• Step-by-step guidance through the compliance process
• Efficient capture and reuse of compliance-related ideas and advice
• Designed specifically for service provider professionals, including RPOs and C3PAOs
• Built to deliver efficiency at scale for compliance management

FutureFeed's focused approach on NIST and CMMC compliance makes it an invaluable asset for organizations in sectors where these standards are crucial, streamlining the often complex process of achieving and maintaining compliance.

Drata is a powerhouse in security and compliance automation, offering continuous monitoring and streamlined workflows for audit-readiness. Key features include:

• Automated evidence collection and control testing across 20+ compliance frameworks
• Integration with 180+ cloud services and tools for centralized evidence gathering
• Pre-mapped controls and requirements validated by auditors
• Customizable frameworks to meet unique business requirements
• Real-time compliance posture visibility and continuous monitoring

Drata's comprehensive approach to compliance automation makes it an excellent choice for organizations looking to maintain continuous compliance across multiple frameworks while reducing the manual workload associated with audits and evidence collection.

SAP GRC offers a comprehensive suite of solutions for managing enterprise risk, compliance, and cybersecurity. Its key capabilities include:

• Integrated, automated, and embedded GRC capabilities
• Continuous monitoring of risks, identities, cyberthreats, and compliance
• Predictive analytics and real-time visibility for informed decision-making
• Enterprise risk management and process control
• Fraud detection and international trade compliance
• Cyberthreat monitoring and data protection

SAP GRC's holistic approach to governance, risk, and compliance, coupled with its robust cybersecurity features, makes it an ideal solution for large enterprises seeking a comprehensive GRC platform that integrates seamlessly with their existing SAP ecosystem.

ServiceNow GRC provides an integrated approach to building operational resilience and mitigating risks across an enterprise. Its standout features include:

• Suite of products covering Integrated Risk Management, Business Continuity Management, Privacy Management, and Third-party Risk Management
• Single data model to eliminate information silos and provide an integrated view of risk and compliance
• AI-powered actionable insights for smarter decision-making
• No-code workflow automation to speed up cross-functional response to risks and compliance violations
• Integration with the broader ServiceNow platform for seamless workflow management

ServiceNow GRC's integration capabilities and focus on automation make it an excellent choice for organizations looking to unify their GRC efforts across different functional groups and leverage AI for more effective risk management and compliance.

Conclusion

These six GRC commercial tools represent the cutting edge in compliance and risk management solutions. From Compliance Scorecard's focus on MSPs to ServiceNow's integrated platform approach, each tool offers unique strengths to address the complex challenges of modern governance, risk, and compliance management. By leveraging these advanced tools, organizations can streamline their GRC processes, enhance their cybersecurity posture, and stay ahead of evolving regulatory requirements. Whether you're a small business looking to establish a robust compliance framework or a large enterprise seeking to unify and automate your GRC efforts, these tools provide powerful solutions to meet your specific needs and drive operational excellence in an increasingly complex regulatory landscape.