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Governance, Risk and Compliance (GRC) Software

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Governance, Risk and Compliance (GRC) Software

Explore best Governance, Risk and Compliance (GRC) Software for your business.

GRC Software:

GRC Software, also known as Governance, Risk Management and Compliance software, is a software that is used to streamline the processes of assessing risks and help conforming regulations and establishing enterprise policies.
A set of tools designed to enforce, monitor, and regulate security compliance for everyday business processes like user provisioning, role management, emergency access management, and periodic risk assessment is known as GRC software. The GRC software helps you to manage the risks, compliance, audit, health and safety of your enterprise in one place thereby reducing costs and increasing opportunities for business improvement. You will be able to develop a culture that is risk aware and can be prepared for the worst case scenarios. It also also helps the organization adopt technologies that improve decision making and performance.

Features and Benefits of GRC Software:

The GRC Software has several features that can benefit the user in many ways to grow their business. Some of these include:

  • A platform can be provided to perform automated, paperless vendor assessments using pre-built or custom standards or checklists.
  • Attention can be focused on risky vendors and data breaches can be minimized.
  • Time can be saved and security can be improved with secure, paperless system.
  • The software can be used for third party risk management, vendor risk management, performing assessments and more.
  • GRC software can be integrated with how customers run their business through measuring, managing, and driving performance.
  • Routine audit and compliance processes can be streamlined by using GRC software. It also help reducing the risk of fraud or malicious activity in Enterprise Resource Planning (ERP) system.
  • User privileges and access can be monitored.
  • It alert the organization when a user tries to access or performs an action that may violate compliance requirements or indicate fraud.
  • Audit logs and compile reports can be maintained to facilitate auditing, risk analysis, and other GRC processes.
  • It can be ensured by the compliance team that documented policies and procedures are followed in an organization as the software serve as a repository for controls.
  • Policies and practices can be established to minimize compliance risk and then enforcement of these policies can be ensured by following through in the IT department and related teams.
  • It can be make sure that the company does not run afoul of any laws, including SEC rules, OSHA and environmental regulations by the Board of Directors.
  • Business processes like ordering new stock, paying vendors and counting inventory can be performed by stakeholders.
  • The GRC software can be used as a reference by the compliance team to demonstrate how the company is following documented policies and procedures.
  • The proposed security compliance can be smoothly enforced among multiple OSs and endpoints.
  • Standardized security compliance benchmark templates can be provided that helps you set your policies as per industry standards.
  • The non-compliant endpoints can be easily detected through continuous monitoring.
  • You can get complete freedom to create and enforce your policies keeping security standards in mind.
  • Compliance can be regulated on remote devices.
  • The time requirements of GRC tasks can be drastically reduced, and continuous visibility and deep insight into organizational vulnerabilities can be provided.

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