When people think of GRC they immediately picture a huge technology implementation that costs millions of dollars. The reality of GRC is very different from what people perceive it to be. GRC isn’t a type of software suite, it is a new way of managing governance, risk, and compliance in a synchronized manner. While there are many GRC solutions that need major implementations and cost millions, there are also a lot of small GRC tools which can be used quickly and without any major expenses.
Instead of working with GRC vendors that only focus on selling large-scale solutions the best place to look for useful GRC tools is vendors of modular GRC systems. Modular systems are those which allow you to pick which parts of the solution you need instead of forcing you to acquire the whole suite at once. This will allow you to pick only the GRC tools which you need right now. Another advantage of modular systems is that they can be expanded in the future. So if you end up needing more GRC tools you can simply integrate them with the existing tools in your organization.
The simplest GRC software applications like document management systems are a great place to begin with GRC. Document management systems allow businesses to safely store, create, edit, and share important documents. It is a great way to ensure that all the important and confidential documents within the organization are properly managed. These systems also track all changes that are made which allows for easy auditing of any problem that occurs in the documents.
GRC may seem like an intimidating trend but it is simply the new best practice for businesses. There is no need to dive into a full GRC implementation right at the beginning. The smart way is to start with a few tools and see what works for your organization and what doesn’t.
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