What are Governance, Risk and Compliance (GRC) Platforms?
GRC platforms help businesses mitigate financial, legal, strategic, and operational risks by defining, implementing, and monitoring organization-wide risk management strategies. Also known as Enterprise Risk Management (ERM) software, these tools organize and evaluate risk information, track incidents, and provide capabilities for measuring risk factors and ensuring compliance with policies and regulations.
Core Capabilities of GRC Platforms
To qualify for inclusion in the category, a product must:
Catalog, assess, and mitigate business-specific risks such as financial or health and safety
Provide tools to communicate risks to employees, customers, vendors, and suppliers
Create, maintain, and implement corporate policies and rules for internal and external use
Maintain an up-to-date repository of laws, regulations, and industry standards
Help users plan, implement, and track the performance of audit programs and tasks
Ensure business continuity management through incident management and risk mitigation
Deliver training and learning for compliance purposes, including certifications
Perform third-party, vendor, and supplier risk assessments and due diligence
Support multiple risk management methodologies, such as quantitative and qualitative
Gather and analyze environmental, social, and governance (ESG) data from various sources
How GRC Platforms Differ from Other Tools
ERM software should not be confused with cybersecurity tools, which focus narrowly on digital security and privacy risks. It also differs from security compliance tools—such as those in the
Security Compliance category—which help organizations document adherence to security frameworks and pass audits. GRC platforms often integrate with environmental, quality, and safety management solutions and align governance, risk, and compliance functions to provide broader organizational insights.
Insights from G2 Reviews on GRC Platforms
According to G2 review data, users highlight the value of centralized risk tracking, strong audit and compliance workflows, and the ability to communicate risk across business units. Reviewers also note that integrated GRC capabilities help maintain organizational integrity and prevent costly operational or legal incidents.
