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What is a GRC Tool?

GRC stands for governance, risk management, and compliance. GRC solutions and tools are designed to enable security leaders to achieve critical objectives to protect their organizations and manage risk.

GRC Acronym Stands For Definition
GRC Governance Refers to an organization’s written policies and procedures and how employees communicate and adopt them. 
GRC Risk Management A method of evaluating, assessing, and focusing on potential risks to an organization. Effective risk management requires coordinated and fiscally responsible decisions to employ resources that reduce risks and repercussions.
GRC Compliance It is part of an organization’s responsibility to abide by governmental rules and industry standards regarding business practices. For example, cybersecurity compliance requirements are created to assure consumers that their personal information is protected.

 

A GRC tool is an application used as part of an overall strategy to monitor and manage risks, compliance issues, and standards. An effective GRC strategy provides several benefits, including better decision-making, more optimal IT investments, a reduction of silos, and the lessening of fragmentation between departments and divisions.

See Also:

  1. GRC Automation
  2. GRC Governance, Risk and Compliance
  3. GRC IT Tools
  4. GRC Risk Management

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