What is a GRC tool?

Direct Answer

A GRC tool refers to specialized software, either hosted on premises or a SaaS solution, that is specifically designed to support the needs of a Governance, Risk and Compliance (GRC) team to manage policies, standards, controls and other GRC-related matters.

GRC tools are meant to streamline existing processes, including:

Policy management;
Exception management;
Risk management (including risk assessments);
Third-party risk management (TPRM);
Compliance oversight;
Audit management; and
Incident and issue tracking.

By using a GRC tool, organizations can reduce manual effort, improve visibility into risks and compliance status, support decision-making and align cybersecurity activities with business objectives.

Keep Exploring

Relevant ComplianceForge Resources

Editable cybersecurity policies, standards & procedures templates
Policies vs Standards vs Controls vs Procedures
Cybersecurity & data privacy risk management templates

References

Authoritative Sources

NIST SP 800-161 Rev. 1 C-SCRM
CISA ICT Supply Chain Risk Management
NIST Cybersecurity Framework (CSF) 2.0
NIST SP 800-53 Rev. 5