8 Questions to Help you Choose the Best GRC Software Solutions for your Company

Posted by Ken Reiher

Setting up a strong governance, risk, and compliance (GRC) platform is an integral part of any organization. However, choosing the right GRC software isn’t a simple venture. There are a lot of important factors when it comes to setting up a well-established platform. If you know what you’re looking for and the right questions to ask, you can find a GRC software platform that checks all your business’ boxes and creates an overall smooth integration.

ComplyAssistant answers the important questions you need to ask to help you find the GRC software platform best for your business.

Questions to Ask When Choosing the Best GRC Software

1. What value will GRC software bring on top of our company’s in-house initiatives?

  • GRC software is built to handle almost all federal, state, and local compliance regulations. 
  • A strong GRC platform provides your company with enterprise risk analysis, integrated risk management, internal audit management, and third-party risk management.

2. What features and benefits does GRC software offer?

  • Task Management- manage compliance action plans and tasks across your organization.
  • Event Management- manage incident response when a breach occurs with breach questionnaire and guidance on how to respond.
  • Audits- Perform audits in a variety of departments, including templates you can use or customize.
  • Assessments- perform internal and external risk assessments. These can include third-party vendors, medical devices, and facilities that may not be owned by your business.
  • Regulation management- manage overall compliance industry regulations.
  • Documentation- gather, organize, and store documentation that shows due diligence such as policies, procedures, and plans.
  • Contract Management- manage any contract type, including your business associate agreements in a single place.

3. Is the platform user-friendly?

  • Find a GRC software, like ComplyAssistant’s platform, that offers a built-in configurable application programming interface (API), which connects with other applications in a flash.

4. How does GRC software work in terms of scalability- being able to grow with the organization?

  • Our GRC software solutions are extremely flexible to adapt as your business changes.
  • Capabilities such as modifying or creating new workflows will allow you to automate actions or activities without coding.
  • We use an enterprise-wide approach, with an unlimited number of users, internal locations, and store an unlimited number of third-party information (demographics and contacts). 

5. Is reporting included in the plan, such as in-depth, customizable reports?

  • Yes, all your client’s reports, assessments, and tasks are included in GRC software.
  • All deliverables will be in a single location and easily distributable.

6. Do you need to upgrade your GRC software periodically?

  • While some platforms require paid upgrades, GRC software from ComplyAssistant includes current functionality and subscribed framework enhancements with your subscription fee. No constant upgrade cycle is required.

7. Are there built-in communication services such as emails to assist with mass notification requirements?

  • Yes, we consider this a critical part of GRC software. Our platform allows you to generate and distribute emails for several reasons. Our task management feature lets you manage action plans and due dates across your entire organization. 

8. Does GRC software stay up to date with changing regulations and standards?

  • Without a doubt, our GRC software solutions include regulation and standards updates (when required). This reduces overhead costs for administrators.

GRC Software Companies

ComplyAssistant’s team has extensive experience handling GRC software solutions with all-sized organizations. Contact us now to take the first steps towards easier and more effective management of your compliance program by partnering with our leading GRC software company.