What is a GRC Tool?

What is a GRC Tool?

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.