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.

1. Compliance Scorecard – Governance as a Service

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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, from policy drafting to implementation and end-user adoption.

Key Highlights

Streamlines policy drafting, implementation, and adoption
Consolidates compliance activities in a single platform
Ensures policies are properly Aligned, Authorized, Adopted, and Assessed
Designed specifically for MSPs and their clients

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2. Verity

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Verity stands out as a comprehensive compliance management tool trusted by the Government of Canada. It provides a centralized platform for managing controls, risk assessments, and policies with features like Plan of Action for risk mitigation tasks and a robust Risk Registry for tracking and assessing risks.

Key Highlights

Centralized platform for controls, assessments, and policies
Detailed Plan of Action for risk mitigation
Comprehensive Risk Registry and Catalog
Role-based access control with multifactor authentication

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3. FutureFeed

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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 is designed specifically for service provider professionals.

Key Highlights

Focused on NIST 800-171 and CMMC compliance
Step-by-step compliance process guidance
Designed for RPOs and C3PAOs service providers
Delivers efficiency at scale for compliance management

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4. Drata

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Drata is a powerhouse in security and compliance automation, offering continuous monitoring and streamlined workflows for audit-readiness. It features automated evidence collection and control testing across 20+ compliance frameworks, with integration capabilities for over 180 cloud services and tools for centralized evidence gathering.

Key Highlights

Automated evidence collection across 20+ frameworks
Integrates with 180+ cloud services and tools
Pre-mapped controls validated by auditors
Real-time compliance posture monitoring

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5. SAP GRC

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SAP GRC offers a comprehensive suite of solutions for managing enterprise risk, compliance, and cybersecurity. It provides integrated, automated, and embedded GRC capabilities with continuous monitoring of risks, identities, cyberthreats, and compliance. The suite includes predictive analytics and real-time visibility for informed decision-making.

Key Highlights

Integrated enterprise risk management and process control
Continuous monitoring of risks and compliance
Fraud detection and international trade compliance
Seamless integration with SAP ecosystem

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6. ServiceNow Governance Risk and Compliance (GRC)

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ServiceNow GRC provides an integrated approach to building operational resilience and mitigating risks across an enterprise. It offers a suite of products covering Integrated Risk Management, Business Continuity Management, Privacy Management, and Third-party Risk Management, all built on a single data model to eliminate information silos.

Key Highlights

Single data model for integrated risk view
AI-powered actionable insights
No-code workflow automation
Seamless integration with ServiceNow platform

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When selecting a GRC solution, consider your organization's specific regulatory requirements, industry standards, and growth trajectory. The most effective implementation starts with clear objectives and a phased approach, focusing on highest-risk areas first before expanding across the organization.

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. As regulations continue to evolve and cybersecurity threats grow more sophisticated, investing in a comprehensive GRC solution becomes not just a compliance necessity but a strategic business advantage.