GRC Tool

Why do you need a GRC tool?

A GRC tool provides the means for identifying and addressing risks to help you achieve your business objectives.

Enterprise Risk Management Dashboard
Manage risk and opportunity.

Riskonnect’s GRC software brings together all risk data into one place that’s easily accessible to all stakeholders.

Collaborate easily.

Riskonnect’s GRC solution streamlines processes and seamlessly shares data to improve communication across risk, compliance, and audit professionals.

Achieve business goals.

Riskonnect’s GRC management software continuously monitors risk and compliance management activity to keep your business strategy on track.

How does a GRC tool work?

Build customized risk registers.

A GRC tool helps you create risk registers that use best-practice frameworks and templates to document threats in key areas like operational risk, cyber risk, strategic risk, project risk, and compliance risk. Within each risk register, you can categorize risks by type and severity, establish risk owners, and track approvals and escalations. You can also incorporate key risk indicators in the analysis.

Learn more about GRC risk management tools.

Apply risk appetite and risk tolerance levels.

A GRC tool allows you to incorporate your established risk appetite and risk tolerance levels into the way risk is managed on a daily basis. Alerts can be set to automatically send notifications if levels are in danger of being exceeded.

Learn more about GRC dashboard tools.

Establish robust controls.

A GRC tool maps controls to risks, aligning practices with the requirements of COSO, ISO 31000, SOX, and other regulations. It simplifies control management by leveraging a single control across multiple risks and offers insight into potential risk exposure.

Learn more about GRC tools.

Create risk treatment plans.

A GRC tool provides a framework for automating workflows to assess, manage, and mitigate risks. Alerts can automatically be sent to risk owners and other stakeholders to keep everyone up to date and working together.

Learn more about GRC tools.

Understand your risk status.

A GRC tool provides a comprehensive view of risks across your enterprise. It offers easily customizable charts and graphs to help stakeholders instantly visualize complex data in a way most meaningful to each.

Learn more about GRC analytics tools.

Maintain compliance.

A GRC tool helps you manage regulatory issues to reduce risk. It brings corporate and legal policies, procedures, and requirements together into one place to make sure nothing important is missed. It also helps you stay abreast of changing regulations and what you need to do to comply.

Learn more about GRC compliance tools.

Manage third-party suppliers.

A GRC tool helps you keep track of your suppliers, understand their risks, and monitor compliance with your requirements. It automates vendor risk assessments to save time and improve reliability, while quickly onboarding new vendors. It also provides audit-ready documentation of your third parties.

Learn more about GRC third-party tools.

Track and analyze incidents.

A GRC tool helps you track and manage incidents with easy-to-use forms and automated workflows that track the incident through resolution. Critical details – including documents and images – can be attached directly in the file. And automatic alerts can notify the right stakeholders when an incident has occurred.

Learn more about GRC analytics tools.

Audit effectiveness.

A GRC tool helps you systematically evaluate the effectiveness of your governance practices. It tracks every step of the audit process in one place, so you can quickly identify and address any gaps in controls. It also adds efficiency and consistency by automating workflows, standardizing assessments, and seamlessly integrating data from multiple sources.

Learn more about GRC audit tools.

Link risk management with business strategy.

A GRC tool helps you develop, manage, and execute your strategy, measure ongoing performance, and communicate the status with the C-suite and board. It helps you visualize your end-to-end strategic plan and break down complex actions into smaller tasks with clear accountability. It empowers you to take calculated risks when it makes sense in terms of your broader goals.

Learn more about GRC tools for risk management.

How can Riskonnect help?

Riskonnect is a highly configurable platform that can be tailored to your needs with:

Easy configurability

Riskonnect’s GRC tool is easily modifiable to suit your needs.

Intuitive interface

Riskonnect’s GRC tool features drop-down menus, conditional formatting, and mandatory fields to make it easy to navigate even for occasional users.

Mobile accessibility

Riskonnect’s GRC tool is accessible anytime from any device to complete risk-related tasks on the go.

Translation to multiple languages

Riskonnect’s GRC tool is available in numerous languages so users can view and analyze risk data in their own language.

Secure technology

Riskonnect is built on the latest technology, protected by industry-leading security.

Fast implementation

Riskonnect offers three implementation options designed to achieve your business objectives as quickly as possible.

API integrations

Riskonnect seamlessly connects risk data of all types inside and outside your organization with APIs and other out-of-the-box integrations.

Expandable platform

With Riskonnect, you can start anywhere and go everywhere. You can begin your journey with a GRC tool today and easily add and upgrade as your business grows and needs change.

More Resources Related to GRC Tools

Governance, Risk, and Compliance: The Definitive Guide

This ebook explains GRC and the value of an integrated approach for making smart, fast decisions.

GET THE EBOOK

RFP Template for GRC Software

This easily modifiable template will help you ask the right questions of vendors under consideration.

GET THE TEMPLATE

The Complete Guide to Buying Risk Management Software

This ebook demystifies the software buying process with step-by-step navigation through the entire journey to help you identify the best fit for your organization.

GET THE EBOOK

Find out more about Riskonnect’s GRC tool.
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Frequently Asked Questions | GRC Tool

A GRC tool helps organizations address uncertainty to achieve business objectives. Effective GRC tools bring all risk and compliance data into one place where it can be analyzed, shared, and acted upon. Organizations get the insight needed to understand the connections between individual risks and the visibility to see how everything comes together as a whole.

GRC stands for governance, risk, and compliance. It is a set of processes and procedures to help organizations achieve business objectives, address uncertainty, and act with integrity.

The basic purpose of GRC is to instill good business practices into everyday corporate life. While the concept has been around for decades, GRC has grown in importance as risks have become more numerous, more complex, and more damaging.

Strong technology-enabled GRC programs can be a competitive differentiator. Automation, centralized data, built-in analytics, and real-time reporting fuel better, faster decisions about risk while helping conserve GRC resources. One sign that you need a GRC tool is if your team spends a significant amount of time manually gathering, validating, and formatting data instead of analyzing what it means and applying those learnings to better protect the organization. Another sign is if leaders are regularly asking for reports and insights that are difficult or impossible to produce.

Look for a GRC tool that is flexible, scalable, and integrated. You should be able to easily make changes and updates – like adding fields, customizing page layouts, and modifying the configuration to accommodate changing regulations, new requirements, or evolving priorities – without the help of IT or your software vendor.

With today’s GRC tools, you can:

  • Get more done with automated tasks, workflows, and follow-up.
  • Deal with endless change, particularly with regulatory updates and new laws.
  • See who did what when since everything is in one place with a clear audit trail documenting every modification.
  • Collaborate seamlessly across the organization.
  • See the big picture by connecting initiatives and data to show how each part impacts the whole.
  • Answer tough questions with streamlined processes, real-time data, and built-in analytics.

Your GRC tool should be:

  • Easy to use for the highest engagement
  • Accessible from any device
  • Protected with end-to-end security that has been independently verified
  • A cloud-based solution that is automatically updated
  • Reliable with minimal wait time
  • Configurable without involving IT or vendor service hours
  • Automated for workflows, assessments, attestations, alerts, and action plans
  • Seamlessly integrated with internal and external data
  • Customizable for meaningful reports and dashboards
Find out how Riskonnect can transform the way you view risk.
Start partnering with Riskonnect today.